EX-12.3 5 0005.txt EXHIBIT 12.3 TO FORM 10-Q ORANGE AND ROCKLAND UTILITIES, INC. AND SUBSIDIARIES RATIO OF EARNINGS TO FIXED CHARGES Twelve Months Ended (Thousands of Dollars)
JUNE JUNE 2000 1999 -------------- ------------- Earnings Net Income $38,279 $18,577 Federal Income Tax 45,008 15,142 State Income Tax 1,599 2,112 ---------- ---------- Total Earnings Before Federal and State Income Tax 84,886 35,831 Fixed Charges* 30,001 37,305 ---------- ---------- Total Earnings Before Federal and State Income Tax and Fixed Charges $114,887 $73,136 ========== ========== * Fixed Charges Interest on Long-Term Debt $24,637 $24,709 Amortization of Debt Discount, Premium and Expense 1,166 1,170 Interest Component on lease Payment 1,595 2,517 Other Interest 2,603 8,909 ---------- ---------- Total Fixed Charges $30,001 $37,305 ========== ========== Ratio of Earnings to Fixed Charges 3.83 1.96