EX-12.3 9 a2029967zex-12_3.txt EXHIBIT 12.3 ORANGE AND ROCKLAND UTILITIES, INC. AND SUBSIDIARIES RATIO OF EARNINGS TO FIXED CHARGES Twelve Months Ended (Thousands of Dollars)
SEPTEMBER SEPTEMBER 2000 1999 ----------------- ----------------- Earnings Net Income $36,579 $20,409 Federal Income Tax 9,410 45,233 State Income Tax 2,461 2,317 ----------------- ------------------- Total Earnings Before Federal and State Income Tax 48,450 67,959 Fixed Charges* 33,475 39,015 ----------------- ------------------- Total Earnings Before Federal and State Income Tax and Fixed Charges $81,925 $106,974 ================= =================== * Fixed Charges Interest on Long-Term Debt $23,276 $25,477 Amortization of Debt Discount, Premium and Expense 1,112 1,191 Interest Component on lease Payment 5,918 5,442 Other Interest 3,169 6,905 ----------------- ------------------- Total Fixed Charges $33,475 $39,015 ================= =================== Ratio of Earnings to Fixed Charges 2.45 2.74