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Orange and Rockland Utilities, Inc. and Subsidiaries
RATIO OF EARNINGS TO FIXED CHARGES
(THOUSANDS OF DOLLARS)
| | | For the Twelve Months Ended December 31, | ||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| For the Six Months Ended June 30, 2003 | For the Twelve Months Ended June 30, 2003 | |||||||||||||||||||
| 2002 | 2001 | 2000 | 1999 | 1998 | ||||||||||||||||
Earnings | |||||||||||||||||||||
Net Income | $ | 19,423 | $ | 44,799 | $ | 44,896 | $ | 40,182 | $ | 39,069 | $ | 14,726 | $ | 44,968 | |||||||
Federal Income & State Tax | 14,667 | 26,343 | 24,574 | 25,937 | 24,654 | 40,101 | 24,877 | ||||||||||||||
Total Earnings Before Federal and State Income Tax | 34,090 | 71,142 | 69,470 | 66,119 | 63,723 | 54,827 | 69,845 | ||||||||||||||
Fixed Charges* | 11,731 | 29,175 | 30,118 | 26,373 | 27,141 | 35,454 | 36,973 | ||||||||||||||
Total Earnings Before Federal and State Income Tax and Fixed Charges | $ | 45,821 | $ | 100,317 | $ | 99,588 | $ | 92,492 | $ | 90,864 | $ | 90,281 | $ | 106,818 | |||||||
*Fixed Charges | |||||||||||||||||||||
Interest on Long-Term Debt | 9,342 | 19,517 | 20,257 | 20,861 | 21,873 | 26,326 | 23,867 | ||||||||||||||
Amortization of Debt Discount, Premium and Expense | 442 | 922 | 961 | 994 | 1,060 | 1,208 | 1,138 | ||||||||||||||
Interest Component on Lease Payment | 1,058 | 1,760 | 1,598 | 1,305 | 1,257 | 2,583 | 2,505 | ||||||||||||||
Other Interest | 889 | 6,976 | 7,302 | 3,213 | 2,951 | 5,337 | 9,463 | ||||||||||||||
Total Fixed Charges | $ | 11,731 | $ | 29,175 | $ | 30,118 | $ | 26,373 | $ | 27,141 | $ | 35,454 | $ | 36,973 | |||||||
Ratio of Earnings to Fixed Charges | 3.9 | 3.4 | 3.3 | 3.5 | 3.4 | 2.5 | 2.9 | ||||||||||||||
Orange and Rockland Utilities, Inc. and Subsidiaries RATIO OF EARNINGS TO FIXED CHARGES (THOUSANDS OF DOLLARS)