QuickLinks -- Click here to rapidly navigate through this document
THE CINCINNATI GAS & ELECTRIC COMPANY
AND SUBSIDIARY COMPANIES
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES AND RATIO OF
EARNINGS TO FIXED CHARGES AND PREFERRED STOCK DIVIDENDS
(Thousands, except ratios)
| | 12 Months Ended December 31 | ||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 9 Months Ended 9/30/03 | |||||||||||||||||||
| 12/31/02 | 12/31/01 | 12/31/00 | 12/31/99 | 12/31/98 | |||||||||||||||
Earnings Available | ||||||||||||||||||||
Net Income | $ | 216,080 | $ | 263,696 | $ | 326,654 | $ | 266,820 | $ | 233,576 | $ | 215,812 | ||||||||
Plus: | ||||||||||||||||||||
Income Taxes | 125,347 | 155,341 | 186,527 | 159,398 | 143,676 | 128,322 | ||||||||||||||
Interest on Long-Term Debt | 90,453 | 96,218 | 92,533 | 95,869 | 95,611 | 101,384 | ||||||||||||||
Other Interest | 1,973 | 8,632 | 17,015 | 8,327 | 7,506 | 6,375 | ||||||||||||||
Interest Component of Rents(a) | 4,537 | 6,050 | 7,405 | 7,053 | 7,391 | 5,819 | ||||||||||||||
Total Available | $ | 438,390 | $ | 529,937 | $ | 630,134 | $ | 537,467 | $ | 487,760 | $ | 457,712 | ||||||||
Fixed Charges | ||||||||||||||||||||
Interest Charges | $ | 92,426 | $ | 104,850 | $ | 109,548 | $ | 104,196 | $ | 103,117 | $ | 107,759 | ||||||||
Interest Component of Rents(a) | 4,537 | 6,050 | 7,405 | 7,053 | 7,391 | 5,819 | ||||||||||||||
Total Fixed Charges | $ | 96,963 | $ | 110,900 | $ | 116,953 | $ | 111,249 | $ | 110,508 | $ | 113,578 | ||||||||
Ratio of Earning to Fixed Charges | 4.52 | 4.78 | 5.39 | 4.83 | 4.41 | 4.03 | ||||||||||||||
Fixed Charges and Preferred Stock Dividends | ||||||||||||||||||||
Interest Charges | $ | 92,426 | $ | 104,850 | $ | 109,548 | $ | 104,196 | $ | 103,117 | $ | 107,759 | ||||||||
Interest Component of Rents(a) | 4,537 | 6,050 | 7,405 | 7,053 | 7,391 | 5,819 | ||||||||||||||
Preferred dividends (pre-income tax basis) | 1,002 | 1,344 | 1,329 | 1,353 | 1,382 | 1,368 | ||||||||||||||
Total Fixed Charges and Preferred Stock Dividends | $ | 97,965 | $ | 112,244 | $ | 118,282 | $ | 112,602 | $ | 111,890 | $ | 114,946 | ||||||||
Ratio of Earnings to Fixed Charges and Preferred Dividends | 4.47 | 4.72 | 5.33 | 4.77 | 4.36 | 3.98 | ||||||||||||||
- (a)
- Estimated interest component of rentals (3/4 of rentals was used where no readily defined interest element could be determined.)