THE NARRAGANSETT ELECTRIC COMPANY
Computation of Ratio of Earnings to Fixed Charges
(SEC Coverage)
(Unaudited)
Years Ended December 31,
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1998 1997 1996 1995 1994
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(In Thousands)
Net Income $32,253 $27,932 $22,954 $23,910 $14,589
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Add income taxes and fixed charges
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Current federal income taxes 19,312 14,185 6,918 7,212 1,020
Deferred federal income taxes (2,212) 79 4,675 3,512 3,930
Investment tax credits - net (489) (495) (498) (503) (508)
Interest on long-term debt 14,925 16,179 17,205 16,627 14,334
Interest on short-term debt and other 3,615 2,475 2,883 3,663 2,897
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Net earnings available for fixed charges $67,404 $60,355 $54,137 $54,421 $36,262
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Fixed charges:
Interest on long-term debt $14,925 $16,179 $17,205 $16,627 $14,334
Interest on short-term debt and other 3,615 2,475 2,883 3,663 2,897
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Total fixed charges $18,540 $18,654 $20,088 $20,290 $17,231
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Ratio of earnings to fixed charges 3.64 3.24 2.69 2.68 2.10
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