RATIO OF EARNINGS TO FIXED CHARGES
12 Months Ended Dec. 31, 1999
(In thousands)
| Earnings | |
| Income before interest expense | 35,785 |
| Add: | |
| Income tax items | 12,268 |
| Income tax on other income | 1,175 |
| Amortization of debt discount, premium expense | 317 |
| Allowance for funds used during construction - borrowed funds | 155 |
| Interest on rentals | 918 |
| Total earnings before interest and taxes | 50,618 |
| Fixed Charges | |
| Interest on long-term debt | 11,500 |
| Other interest | 694 |
| Amortization of debt discount, premium expense | 317 |
| Interest on rentals | 918 |
| Total fixed charges | 13,429 |
| Ratio of Earnings to Fixed Charges | 3.77 |