EXHIBIT 12
ROCHESTER GAS AND ELECTRIC CORPORATION
COMPUTATION OF SEC RATIO OF EARNINGS TO FIXED CHARGES
(Thousand of Dollars)
Twelve Months
Ended
March 31, Year Ended December 31,
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2002 2001 2000 1999 1998 1997
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EARNINGS
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Net Income - Continuing Operations $82,336 $107,551 $95,529 $94,488 $94,138 $95,360
Add:
Income Taxes (net),
Continuing Operations 40,034 53,623 59,672 63,309 61,901 61,575
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Pretax Income 122,370 161,174 155,201 157,797 156,039 156,935
Fixed Charges 69,004 70,170 69,453 63,321 52,474 56,903
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Earnings (as defined) $191,374 $231,344 $224,654 $221,118 $208,513 $213,838
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FIXED CHARGES
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Interest Charges on Long Term Debt $59,179 $58,953 $56,673 $53,067 $43,306 $44,615
DOE Liability * 2,927 3,978 5,548 4,177 4,305 4,204
Amortization of Debt Premium,
Discount and Expense 2,211 2,132 1,647 1,723 1,536 1,772
Other Interest 2,567 2,847 3,921 2,824 1,852 4,904
Rentals ** 2,120 2,260 1,664 1,530 1,475 1,408
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Total Fixed Charges $69,004 $70,170 $69,453 $63,321 $52,474 $56,903
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RATIO OF EARNINGS TO FIXED
CHARGES (TIMES) *** 2.77 3.30 3.23 3.49 3.97 3.76
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* Long term liability to Federal Department of Energy for nuclear waste disposal.
** Rentals deemed representative of the interest factor included in rent expense.
*** Including the effect of merger costs and accelerated amortization of the Nine Mile Two plant charged
to current period earnings, the ratio of earnings to fixed charges for the twelve months
ended March 31, 2002 would be 1.98x and for 2001 would be 2.46x.