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Previous: WASHINGTON GAS LIGHT CO, 10-Q, EX-99.0, 2000-08-11 |
Next: WASHINGTON REAL ESTATE INVESTMENT TRUST, 10-Q, 2000-08-11 |
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<CAPTION>
EXHIBIT 99.1
WASHINGTON GAS LIGHT COMPANY AND SUBSIDIARIES
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES AND
PREFERRED STOCK DIVIDENDS
Twelve Months Ended June 30, 2000
(Unaudited)
(Dollars in Thousands)
<S> <C>
PRE-TAX PREFERRED STOCK DIVIDENDS
Preferred Dividends $ 1,326
Effective Income Tax Rate 0.3701
Complement of Effective Income Tax Rate (1 - Tax Rate) 0.6299
Pre-Tax Preferred Dividends $ 2,105
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FIXED CHARGES
Interest Expense $ 41,347
Amortization of Debt Premium, Discount and Expense 456
Interest Component of Rentals 12
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Total Fixed Charges 41,815
Pre-tax Preferred Dividends 2,105
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Total $ 43,920
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EARNINGS
Net Income $ 85,500
Add:
Income Taxes Applicable to Utility Operating Income 46,904
Income Taxes Applicable to Non-Utility Operating Income 4,204
Income Taxes Applicable to Other Income (Expenses)--Net (883)
Total Fixed Charges 41,815
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Total Earnings $ 177,540
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Ratio of Earnings to Fixed Charges and Preferred Stock Dividends 4.0
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