| Exhibit 12 |
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| The Peoples Gas Light and Coke Company and Subsidiary Companies |
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| Statement Re: Computation of Ratio of Earnings to Fixed Charges |
| (Dollars in Thousands) |
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Fiscal years ended September 30, |
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2000 |
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1999 |
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1998 |
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1997 |
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1996 |
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| Net Income Before Preferred |
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| Stock Dividends |
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$ 73,576 |
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$ 78,217 |
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$ 68,378 |
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$ 85,098 |
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$ 88,752 |
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| Add - Income Taxes |
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41,954 |
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44,115 |
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38,188 |
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48,269 |
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53,533 |
| Fixed Charges (see below) |
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34,462 |
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34,040 |
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33,786 |
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33,289 |
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37,052 |
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| Earnings |
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$ 149,992 |
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$ 156,372 |
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$ 140,352 |
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$ 166,656 |
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$ 179,337 |
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| Fixed Charges: |
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| Interest on Long-Term Debt |
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$ 28,471 |
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$ 30,532 |
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$ 31,132 |
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$ 31,094 |
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$ 32,889 |
| Other Interest |
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5,991 |
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3,508 |
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2,654 |
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2,195 |
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4,163 |
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| Total Fixed Charges |
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$ 34,462 |
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$ 34,040 |
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$ 33,786 |
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$ 33,289 |
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$ 37,052 |
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| Ratio of Earnings to Fixed Charges |
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4.35 |
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4.59 |
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4.15 |
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5.01 |
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4.84 |
