Exhibit 12-2
ENERGY EAST CORPORATION AND SUBSIDIARIES
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
AND PREFERRED STOCK DIVIDENDS
Calendar Year | |||||
(Thousands) | 2006 | 2005 | 2004 | 2003 | 2002 |
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Add: | |||||
Income tax | 155,255 | 169,997 | 251,445 | 128,663 | 100,277 |
Pretax Income from |
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Fixed Charges | 315,594 | 297,734 | 289,846 | 312,473 | 297,284 |
Earnings, as defined | $730,681 | $724,564 | $778,912 | $649,626 | $587,490 |
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Interest charges, net(1) | $308,824 | $288,897 | $276,890 | $284,482 | $256,161 |
Interest portion of |
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Earnings required to |
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Fixed Charges, as defined | $315,594 | $297,734 | $289,846 | $312,473 | $297,284 |
Preferred Stock Dividends(3) | - | - | - | - | - |
Fixed Charges and |
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Ratio of Earnings to Fixed |
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(1) Includes interest on long-term debt, other interest, and amortization of premium and discount on debt.
(2) Preferred stock dividends of subsidiaries have been adjusted to a pretax basis.
(3) We have not previously issued preferred stock and we therefore have never declared any preferred dividends.
(4) The ratio of earnings to fixed charges is calculated by dividing earnings by fixed charges. For this purpose, earnings means income from continuing operations before income taxes and fixed charges. Fixed charges means all interest charges, the interest component of rentals, and preferred stock dividends of subsidiaries.