Pepco | ||||||
Three Months Ended | For the Year Ended December 31, | |||||
March 31, 2003 | 2002 | 2001 | 2000 | 1999 | 1998 | |
(Dollar Amounts in Millions) | ||||||
Net Income | $20.0 | $141.2 | $192.3 | $369.1 | $256.7 | $234.8 |
Taxes based on income | 12.6 | 79.9 | 83.5 | 341.2 | 114.5 | 122.3 |
Income before taxes | 32.6 | 221.1 | 275.8 | 710.3 | 371.2 | 357.1 |
Fixed Charges: | ||||||
Interest charges | 21.7 | 118.7 | 166.4 | 230.7 | 209.7 | 215.2 |
Interest factor in rentals | 3.4 | 9.3 | 23.8 | 23.6 | 23.8 | 24.0 |
Total Fixed Charges | 25.1 | 128.0 | 190.2 | 254.3 | 233.5 | 239.2 |
Competitive subsidiary capitalized interest | - | (0.2) | (2.7) | (3.9) | (1.8) | (0.6) |
Income before income taxes and fixed charges | $57.7 | $348.9 | $463.3 | $960.7 | $602.9 | $595.7 |
Coverage of fixed charges | 2.30 | 2.73 | 2.44 | 3.78 | 2.58 | 2.49 |
Preferred dividend requirements | $1.2 | $5.0 | $5.0 | $5.5 | $7.9 | $11.4 |
Ratio of pre-tax income to net income | 1.6 | 1.57 | 1.43 | 1.92 | 1.45 | 1.52 |
Preferred dividend factor | $2.0 | $7.8 | $7.2 | $10.6 | $11.4 | $17.3 |
Total fixed charges and preferred dividends | $27.1 | $135.8 | $197.4 | $264.9 | $244.9 | $256.5 |
Coverage of combined fixed charges and | 2.13 | 2.57 | 2.35 | 3.63 | 2.46 | 2.32 |
Note: Year Ended December 31, 2002 amounts include the results of Pepco for the entire year and its former subsidiaries, |