EXHIBIT 12.2
Boston Edison Company
Consolidated Ratios of Earnings to Fixed Charges
(Dollars in Thousands)
12 Months Ended June 30, | For the Year Ended December 31, | |||||||||||||||||||||||
Fixed Charge Ratio Components | 2002 | 2001 | 2000 | 1999 | 1998 | 1997 | ||||||||||||||||||
Pre-Tax Income from Continuing Operations: | ||||||||||||||||||||||||
Net Income | $ | 131,064 | $ | 150,353 | $ | 146,028 | $ | 160,314 | $ | 157,337 | $ | 144,642 | ||||||||||||
Tax Expense | 85,017 | 97,574 | 100,898 | 68,564 | 82,639 | 82,455 | ||||||||||||||||||
Pre-Tax Income from Continuing Operations: | 216,081 | 247,927 | 246,926 | 228,878 | 239,976 | 227,097 | ||||||||||||||||||
Fixed Charges: | ||||||||||||||||||||||||
Interest Expense | 94,160 | 98,936 | 114,211 | 97,757 | 91,114 | 106,899 | ||||||||||||||||||
Rentals | 19,033 | 19,033 | 15,100 | 13,400 | 9,784 | 9,359 | ||||||||||||||||||
Total Fixed Charges: | 113,193 | 117,969 | 129,311 | 111,157 | 100,898 | 116,258 | ||||||||||||||||||
Pre-Tax Income from Continuing Operations, plus Fixed Charges | $ | 329,274 | $ | 365,896 | $ | 376,237 | $ | 340,035 | $ | 340,874 | $ | 343,355 | ||||||||||||
Ratio of Earnings to Fixed Charges | 2.91 | x | 3.10 | x | 2.91 | x | 3.06 | x | 3.38 | x | 2.95 | x | ||||||||||||
Securitization Interest | 39,377 | 41,475 | 45,505 | 20,408 | — | — | ||||||||||||||||||
Ratio of Earnings to Fixed Charges Excluding Securitization Interest | 3.93 | x | 4.24 | x | 3.95 | x | 3.52 | x | 3.38 | x | 2.95 | x | ||||||||||||