EXHIBIT NO. 12
NUI CORPORATION AND SUBSIDIARIES
CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES
(Dollars in thousands)
Year Ended September 30,
2000 1999 1998 1997 1996
Income from continuing
operations before
income taxes $44,893 $41,718 $21,024 $30,172 $23,040
Less:
Adjustment related to
equity investments (2,187) (631) (402) (2,317) --
Add:
Interest element of
rentals charged to
income(a) 2,288 3,144 3,239 3,299 2,930
Interest expense 21,708 21,836 20,496 21,374 19,808
------- ------- ------- ------- -------
Earnings as defined $66,702 $66,067 $44,357 $52,528 $45,782
======= ======= ======= ======= =======
Interest expense $21,708 $21,836 $20,496 $21,374 $19,808
Capitalized interest 754 83 272 186 150
Interest element of
rentals charged to
income (a) 2,288 3,144 3,239 3,299 2,930
------- ------- ------- ------- -------
Fixed charges as
defined $24,750 $25,063 $24,007 $24,859 $22,888
======= ======= ======= ======= =======
Consolidated ratio of
earnings to fixed
charges 2.70 2.64 1.85 2.11 2.00
---- ---- ---- ---- ----
(a) Includes the interest element of rentals where determinable plus
1/3 of rental expense where no readily defined interest element can be
determined.
