THE NARRAGANSETT ELECTRIC COMPANY
Computation of Ratio of Earnings to Fixed Charges
(SEC Coverage)
(Unaudited)
Years Ended December 31,
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1993 1992 1991 1990 1989
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(In Thousands)
Net Income $14,274 $21,052 $16,820 $17,599 $10,582
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Add income taxes and fixed charges
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Current federal income taxes 2,183 4,608 1,558 7,624 4,690
Deferred federal income taxes 2,199 4,560 5,528 351 (2,509)
Investment tax credits - net (508) (507) (500) (504) (536)
Interest on long-term debt 12,715 13,290 12,581 11,016 11,016
Interest on short-term debt and other 2,074 1,277 2,500 2,968 2,117
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Net earnings available for fixed charges $32,937 $44,280 $38,487 $39,054 $25,360
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Fixed charges:
Interest on long-term debt $12,715 $13,290 $12,581 $11,016 $11,016
Interest on short-term debt and other 2,074 1,277 2,500 2,968 2,117
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Total fixed charges $14,789 $14,567 $15,081 $13,984 $13,133
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Ratio of earnings to fixed charges 2.23 3.04 2.55 2.79 1.93
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