EX-12.1 7 spire20170930-ex121.htm EXHIBIT 12.1
Exhibit 12.1
SPIRE INC. AND SUBSIDIARIES
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

(Dollars in Millions) | Years Ended September 30,
| 2017 |  | 2016 |  | 2015 |  | 2014 |  | 2013
Earnings |  |  |  |  |  |  |  |  |
Income before income taxes | $ | 239.2 |  |  | $ | 213.7 |  |  | $ | 199.1 |  |  | $ | 116.9 |  |  | $ | 70.4 |
Add: Fixed Charges (from below) | 92.4 |  |  | 80.8 |  |  | 78.0 |  |  | 48.3 |  |  | 30.6 |
Total Earnings | $ | 331.6 |  |  | $ | 294.5 |  |  | $ | 277.1 |  |  | $ | 165.2 |  |  | $ | 101.0 |
Fixed Charges |  |  |  |  |  |  |  |  |
Interest on long-term debt | $ | 76.8 |  |  | $ | 67.6 |  |  | $ | 66.6 |  |  | $ | 39.3 |  |  | $ | 25.5 |
Other interest charges | 12.3 |  |  | 9.6 |  |  | 8.0 |  |  | 6.9 |  |  | 3.1 |
One third of applicable rentals charged to operating expense (which approximates the interest portion) | 2.5 |  |  | 3.4 |  |  | 3.4 |  |  | 2.1 |  |  | 2.0 |
Add back: Allowance for borrowed funds used during construction | 0.8 |  |  | 0.2 |  |  | — |  |  | — |  |  | — |
Total Fixed Charges | $ | 92.4 |  |  | $ | 80.8 |  |  | $ | 78.0 |  |  | $ | 48.3 |  |  | $ | 30.6 |
Ratio of Earnings to Fixed Charges | 3.59 |  |  | 3.64 |  |  | 3.55 |  |  | 3.41 |  |  | 3.30 |