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Exhibit 12
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Statements of Ratio of Earnings to Fixed Charges
($ in millions)
Twelve Months Twelve Months
Ended September 30, Ended December 31,
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2000 1999 1999 1998 1997 1996 1995
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<S> <C> <C> <C> <C> <C> <C> <C>
Consolidated Income (Loss)
from Continuing Operations
before Income Taxes 636.7 490.5 565.9 461.1 397.0 325.8 (650.5)
Adjustments:
Interest during construction (2.0) (3.0) (2.8) (2.1) (3.0) (1.1) (20.2)
Distributed (Undistributed)
equity income (7.1) (3.0) (5.8) (0.4) 3.6 1.5 (7.9)
Fixed charges* 206.8 164.3 183.8 163.3 180.5 183.7 1,061.3
------- ------- ------- ------- ------- ------- -------
Earnings Available 834.4 648.8 741.1 621.9 578.1 509.9 382.7
------- ------- ------- ------- ------- ------- -------
Fixed Charges:
Interest on long-term and
short-term debt 158.9 146.3 152.9 145.4 145.6 150.8 987.2
Other interest 31.7 1.9 14.9 1.4 15.2 13.5 53.6
Portion of rentals
representing interest 16.2 16.1 16.0 16.5 19.7 19.4 20.5
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Total Fixed Charges 206.8 164.3 183.8 163.3 180.5 183.7 1,061.3**
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Ratio of Earnings to Fixed Charges 4.03 3.95 4.03 3.81 3.20 2.78 N/A (a)
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Prior periods have been restated to reflect discontinued operations.
(a) To achieve a one-to-one coverage, the Corporation would need an
additional $678.6 million of earnings for the twelve months ended
December 31, 1995.
* Amounts for the twelve months ended December 31, 1995 through December
31, 1999 have been restated to conform to 2000 presentation.
** This amount includes interest expense of $982.9 million including the
write-off of unamortized discounts on debentures recorded in 1995.
