EX-12.2 6 eke12-2_2007.htm ENERGY EAST COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES AND PREFERRED STOCK DIVIDENDS Energy East Exhibit 12-2 2007 10-K

Exhibit 12-2

ENERGY EAST CORPORATION AND SUBSIDIARIES

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
AND PREFERRED STOCK DIVIDENDS

 

Calendar Year

(Thousands)

2007

2006

2005

2004

2003


Income From Continuing
  Operations



$251,298 



$259,832



$256,833



$237,621



$208,490

Add:

         

  Income tax

114,058 

155,255

169,997

251,445

128,663

Pretax Income from
  Continuing Operations


365,356 


415,087


426,830


489,066


337,153

Fixed Charges

284,736 

315,594

297,734

289,846

312,473

Earnings, as defined

$650,092 

$730,681

$724,564

$778,912

$649,626


Fixed Charges:

         

  Interest charges, net(1)

$275,938 

$308,824

$288,897

$276,890

$284,482

  Interest portion of
   rental charges


7,204 


5,026


6,607


5,880


6,409

  Earnings required to
   cover preferred stock
   dividends of subsidiaries(2)



1,594 



1,744



2,230



7,076



21,582

Fixed Charges, as defined

$284,736 

$315,594

$297,734

$289,846

$312,473

Preferred Stock Dividends(3)

-    

-    

-    

-    

-    

Fixed Charges and
  Preferred Stock Dividends


$284,736 


$315,594


$297,734


$289,846


$312,473

Ratio of Earnings to Fixed
  Charges and Preferred
  Stock Dividends(4)



2.28 



2.32



2.43



2.69



2.08


(1)  Includes interest on long-term debt, other interest, and amortization of premium and discount on debt.
(2)  Preferred stock dividends of subsidiaries have been adjusted to a pretax basis.
(3)  We have not previously issued preferred stock and we therefore have never declared any preferred dividends.
(4)  The ratio of earnings to fixed charges is calculated by dividing earnings by fixed charges. For this purpose, earnings means income from continuing operations before income taxes and fixed charges. Fixed charges means all interest charges, the interest component of rentals, and preferred stock dividends of subsidiaries.