EX-12.1 4 dex121.htm STATEMENT REGARDING THE COMPUTATION OF RATIOS STATEMENT REGARDING THE COMPUTATION OF RATIOS

Exhibit 12.1

 

Statement regarding the computation of ratios

 

Boston Edison

Computation of Earnings to Fixed Charges

(Dollars in Thousands)

 

Fixed Charge Ratio Components

   

12 Months

Ended

September 30,

2003

    For the Year Ended December 31,
      2002
    2001
    2000
    1999
    1998

Pre-Tax Income from Continuing Operations:

                              

Net Income

    127,091    134,103    150,353    146,028    160,314    157,337

Tax Expense

    88,188    92,282    97,574    100,898    68,564    82,639
    
  
  
  
  
  

Pre-tax Income from Continuing Operations:

    215,279    226,385    247,927    246,926    228,878    239,976
    
  
  
  
  
  

Fixed Charges:

                              

Interest Expense

    99,709    95,771    98,936    114,211    97,757    91,114

Rentals*

    19,289    19,378    19,033    15,100    13,400    9,784
    
  
  
  
  
  

Total Fixed Charges:

    118,998    115,149    117,969    129,311    111,157    100,898
    
  
  
  
  
  

Pre-tax Income from Continuing Operations, plus Fixed Charges

    334,277    341,534    365,896    376,237    340,035    340,874
    
  
  
  
  
  

Ratio of Earnings to Fixed Charges

    2.81    2.97    3.10    2.91    3.06    3.38
    
  
  
  
  
  
* Represents a reasonable approximation of the interest factor included in rental expense.