EXHIBIT 12.1
CONSOLIDATED HYDRO, INC.
STATEMENT REGARDING COMPUTATIONS OF DEFICIENCY
OF EARNINGS TO FIXED CHARGES AND
OF DEFICIENCY OF EARNINGS TO FIXED CHARGES AND PREFERRED STOCK DIVIDENDS
(IN THOUSANDS)
1997 1996 1995 1994 1993
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Loss before provision for income taxes, extraordinary item
and cumulative effect of accounting changes $ (11,161) $ (95,712) $ (15,899) $ (14,126) $ (8,190)
Add: Interest expense 29,591 26,876 21,778 18,980 13,868
Amortization of debt 448 448 448 451 237
Imputed interest - operating lease (a) 1,436 1,533 1,621 1,705 1,785
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Total earnings/(loss) $ 20,314 $ (66,855) $ 7,948 $ 7,010 $ 7,700
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Fixed charges:
Interest expense $ 29,591 $ 26,876 $ 21,778 $ 18,980 $ 13,868
Capitalized interest 189 1,705 2,951 2,303 553
Amortization of debt 448 448 448 451 237
Imputed interest - operating lease (a) 1,436 1,533 1,621 1,705 1,785
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$ 31,664 $ 30,562 $ 26,798 $ 23,439 $ 16,443
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Deficiency of earnings to fixed charges $ 11,350 $ 97,417 $ 18,850 $ 16,429 $ 8,743
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Preferred dividend requirement $ 25,891 $ 23,732 $ 22,108 $ 20,688 $ 18,229
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Deficiency of earnings to fixed charges and preferred
stock dividends $ 37,241 $ 121,149 $ 40,958 $ 37,117 $ 26,972
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(a) The percent of rent included above represents a reasonable approximation
of the interest factor.