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| Exhibit 12 | ||||||||||||||||
| The Peoples Gas Light and Coke Company and Subsidiary Companies | ||||||||||||||||
| Statement Re: Computation of Ratio of Earnings to Fixed Charges | ||||||||||||||||
| (Dollars in Thousands) | ||||||||||||||||
| Fiscal years ended September 30, | ||||||||||||||||
| 1999 | 1998 | 1997 | 1996 | 1995 | ||||||||||||
| Net Income Before Preferred | ||||||||||||||||
| Stock Dividends | $ | 78217 | $ | 68,378 | $ | 85,098 | $ | 88,752 | $ | 53,666 | ||||||
| Add - Income Taxes | 44115 | 38,188 | 48,269 | 53,533 | 28,164 | |||||||||||
| Fixed Charges (see below) | 34040 | 33,786 | 33,289 | 37,052 | 46,586 | |||||||||||
| Earnings | $ | 156,372 | $ | 140,352 | $ | 166,656 | $ | 179,337 | $ | 128,416 | ||||||
| Fixed Charges: | ||||||||||||||||
| Interest on Long-Term Debt | $ | 30532 | $ | 31,132 | $ | 31,094 | $ | 32,889 | $ | 40,507 | ||||||
| Other Interest | 3508 | 2,654 | 2,195 | 4,163 | 6,079 | |||||||||||
| Total Fixed Charges | $ | 34,040 | $ | 33,786 | $ | 33,289 | $ | 37,052 | $ | 46,586 | ||||||
| Ratio of Earnings to Fixed Charges | 4.59 | 4.15 | 5.01 | 4.84 | 2.76 | |||||||||||
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