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Exhibit 12.1
Columbia Pipeline Group, Inc.
Ratio of Earnings to Fixed Charges
 
December 31, 2016
December 31, 2015
December 31, 2014
December 31, 2013
December 31, 2012
Earnings as defined in item 503(d) of Regulation S-K:
 
 
 
 
 
Add:
 
 
 
 
 
Pretax income from continuing operations(1)(2)
$
167,282,766

$
400,022,618

$
391,832,675

$
382,318,903

$
333,308,059

Fixed Charges
126,300,714

106,114,018

65,365,429

44,984,288

32,043,502

Amortization of capitalized interest(3)





Distributed income of equity investees
61,503,827

57,243,010

37,800,000

32,125,000

34,850,000

Share of pre-tax losses of equity investees for which charges arising guarantees are included in fixed charges





Deduct:
 
 
 
 
 
Interest capitalized(3)





Preference security dividend requirements of consolidated subsidiaries(4)





Noncontrolling interest in pre-tax income of subsidiaries that have not incurred fixed charges





 
$
355,087,307

$
563,379,646

$
494,998,104

$
459,428,191

$
400,201,561

 
 
 
 
 
 
Fixed charges as defined in item 503(d) of Regulation S-K:
 
 
 
 
 
Interest on long-term debt
$
113,092,137

$
98,527,286

$
61,560,284

$
40,611,359

$
26,060,109

Other interest
2,980,553

4,467,154

3,805,145

4,372,929

5,983,393

Capitalized interest during period(3)



 

Amortization of premium, reacquisition premium, discount and expense on debt, net
10,228,024

3,119,578




Interest portion of rent expense





Non-controlling interest





 
$
126,300,714

$
106,114,018

$
65,365,429

$
44,984,288

$
32,043,502

 
 
 
 
 
 
Plus preferred stock dividends:
 
 
 
 
 
Preferred dividend requirements of subsidiary





Preferred dividend requirements factor
0.66

0.67

0.61

0.65

0.62

Preference security dividend requirements of consolidated subsidiaries(4)





  Fixed charges
126,300,714

106,114,018

65,365,429

44,984,288

32,043,502

 
$
126,300,714

$
106,114,018

$
65,365,429

$
44,984,288

$
32,043,502

 
 
 
 
 
 
Ratio of earnings to fixed charges
2.81

5.31

7.57

10.21

12.49

(1)Income Statement amounts have been adjusted for discontinued operations.
(2)Excludes income or loss from equity investees.
(3)CPG follows FASB ASC Topic 980, Regulated Operations, and therefore does not add amortization of capitalized interest or subtract interest capitalized in determining earnings, nor reduces fixed charges for Allowance for Funds Used During Construction.
(4)Preferred dividends, as defined by SEC regulation S-K, are computed by dividing the preferred dividend requirement by one minus the effective income tax rate applicable to continuing operations.