Exhibit 12(e)
Entergy New Orleans, Inc.
Computation of Ratios of Earnings to Fixed Charges and
Ratios of Earnings to Combined Fixed Charges and Preferred Dividends
1998 1999 2000 2001 2002
Fixed charges, as defined:
Total Interest $14,792 $14,680 $15,891 $19,661 $27,950
Interest applicable to rentals 1,045 1,281 1,008 977 1,043
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Total fixed charges, as defined 15,837 15,961 16,899 20,638 28,993
Preferred dividends, as defined (a) 1,566 1,566 1,643 2,898 2,736
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Combined fixed charges and preferred dividends, as defined $17,403 $17,527 $18,542 $23,536 $31,729
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Earnings as defined:
Net Income $16,137 $18,961 $16,518 ($2,195) (230)
Add:
Provision for income taxes:
Total 10,042 13,030 11,597 (4,396) (422)
Fixed charges as above 15,837 15,961 16,899 20,638 28,993
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Total earnings, as defined $42,016 $47,952 $45,014 $14,047 $28,341
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Ratio of earnings to fixed charges, as defined 2.65 3.00 2.66 0.68 0.98
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Ratio of earnings to combined fixed charges and
preferred dividends, as defined 2.41 2.74 2.43 0.60 0.89
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(a) "Preferred dividends," as defined by SEC regulation S-K, are computed
by dividing the preferred dividend requirement by one hundred percent
(100%) minus the income tax rate.
(b) For Entergy New Orleans, earnings for the twelve months ended December 31,
2001 were not adequate to cover fixed charges and combined fixed charges
and preferred dividends by $6.6 million and $9.5 million, respectively.
(c) For Entergy New Orleans, earnings for the twelve months ended December 31,
2002 were not adequate to cover combined fixed charges and preferred
dividends by $0.7 million and $3.4 million, respectively.