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Content analysis
?Positive | ||
Negative | ||
Uncertain | ||
Constraining | ||
Legalese | ||
Litigous | ||
Readability |
8th grade Avg
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- 10-K Annual report
- 10.3 EX-10.3
- 10.1.2 EX-10.1.2
- 10.20.2 EX-10.20.2
- 10.26 EX-10.26
- 10.27.9 EX-10.27.9
- 12 EX-12
- 13 EX-13
- 13.1 EX-13.1
- 13.2 EX-13.2
- 13.3 EX-13.3
- 21 EX-21
- 23 EX-23
- 31 EX-31
- 31.1 EX-31.1
- 31 EX-31
- 31.1 EX-31.1
- 31 EX-31
- 31.1 EX-31.1
- 31 EX-31
- 31.1 EX-31.1
- 32 EX-32
- 32 EX-32
- 32 EX-32
- 32 EX-32
- CORRESP Corresp
Ratio of Earnings to Fixed Charges |
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| Exhibit 12 |
(In thousands) | ||||||||||
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| Years Ended December 31, | ||||||||
Earnings, as defined: |
| 2007 |
| 2006 |
| 2005 |
| 2004 |
| 2003 |
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Net income/(loss) from continuing operations before |
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cumulative effect of accounting change | $ | 245,896 | $ | 132,936 | $ | (256,903) | $ | 70,423 | $ | 77,105 |
Income tax expense/(benefit) |
| 109,420 |
| (76,326) |
| (184,862) |
| 22,388 |
| 19,751 |
Equity in earnings of regional nuclear |
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generating and transmission companies |
| (3,983) |
| (334) |
| (3,311) |
| (2,592) |
| (4,487) |
Dividends received from regional equity investees |
| 4,542 |
| 2,145 |
| 687 |
| 3,879 |
| 8,904 |
Fixed charges, as below |
| 264,311 |
| 258,682 |
| 260,428 |
| 236,324 |
| 228,764 |
Preferred dividend security requirements of |
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consolidated subsidiaries |
| (9,265) |
| (9,265) |
| (9,265) |
| (9,265) |
| (9,265) |
Total earnings/(loss), as defined | $ | 610,921 | $ | 307,838 | $ | (193,226) | $ | 321,157 | $ | 320,772 |
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Fixed charges, as defined: |
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Interest on long-term debt | $ | 162,841 | $ | 141,579 | $ | 131,870 | $ | 107,365 | $ | 88,700 |
Interest on rate reduction bonds |
| 61,580 |
| 74,242 |
| 87,439 |
| 98,899 |
| 108,359 |
Other interest |
| 15,824 |
| 22,375 |
| 19,276 |
| 8,586 |
| 10,254 |
Rental interest factor |
| 8,533 |
| 5,300 |
| 6,733 |
| 7,067 |
| 7,366 |
Amortized premiums, discounts and |
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capitalized expenses related to indebtedness |
| 6,268 |
| 5,921 |
| 5,845 |
| 5,142 |
| 4,820 |
Preferred dividend security requirements of |
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consolidated subsidiaries |
| 9,265 |
| 9,265 |
| 9,265 |
| 9,265 |
| 9,265 |
Total fixed charges, as defined | $ | 264,311 | $ | 258,682 | $ | 260,428 | $ | 236,324 | $ | 228,764 |
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Ratio of Earnings to Fixed Charges |
| 2.31 |
| 1.19 |
| (0.74) | (a) | 1.36 |
| 1.40 |
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(a) Earnings were inadequate to cover fixed charges by $453.7 million for the year ended December 31, 2005. |