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FORM 10-Q/A
AMENDMENT NO. 1
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
_________________________
(Mark One)
[X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES AND EXCHANGE ACT OF 1934
For the quarterly period
ended.............................................March 31, 1998
OR
[ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
For the transition period from.............to....................
Commission file number.....................................1-3268
CENTRAL HUDSON GAS & ELECTRIC CORPORATION
(Exact name of registrant as specified in its charter)
NEW YORK 14-0555980
(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification No.)
284 SOUTH AVENUE, POUGHKEEPSIE, NEW YORK 12601-4879
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including
area code (914) 452-2000
Indicate by check mark whether the Registrant (1) has
filed all reports required to be filed by Section 13 or 15(d) of
the Securities Exchange Act of 1934 during the preceding 12
months (or for such shorter period that the Registrant was
required to file such reports), and (2) has been subject to such
filing requirements for the past 90 days. Yes X No
Indicate the number of shares outstanding of each of
the issuer's classes of common stock as of the latest practicable
date. Common stock, par value $5.00 per share; 16,911,387 shares
outstanding as of September 30, 1998.
Registrant, in response to the Commission's letter of
comments, dated November 23, 1998, hereby amends Exhibit 12 to
correct certain minor errors. Amended Exhibit 12 is attached
hereto.
SIGNATURES
Pursuant to the requirements of the Securities Exchange
Act of 1934, the Company has duly caused this report to be signed
on its behalf by the undersigned hereunder duly authorized.
CENTRAL HUDSON GAS & ELECTRIC CORPORATION
(Registrant)
By: (SGD.) DONNA S.DOYLE
Donna S. Doyle
Controller Authorized Officer and
Chief Accounting Officer
Dated: December 8, 1998
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INDEX TO EXHIBITS
Exhibit Number
(Registration S-K
Item 601
Designation) Exhibit
(12) Statement Showing Computation of the
Ratio of Earnings to Fixed Charges and
the Ratio of Earnings to Combined fixed
Charges and Preferred Stock Dividends
(27) Financial Data Schedule, pursuant to
Item 601(c) of Regulation S-K.
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THIS EXHIBIT 12 OF THE 10-Q IS BEING SUBMITTED DUE TO A TYPOGRAPHICAL ERROR THAT OCCURRED IN THE ORIGINAL 10-Q
ELECTRONIC FILING OF 5/6/98
EXHIBIT 12
CENTRAL HUDSON GAS & ELECTRIC CORPORATION
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES AND RATIO OF EARNINGS TO FIXED CHARGES
AND PREFERRED DIVIDENDS
<CAPTION> 1998 Year Ended December 31,
3 Months 12 Months 1997(1) 1996(1) 1995 1994
Ended Ended
<S> March 31 March 31
Earnings: <C> <C> <C> <C> <C> <C>
A. Net Income $ 19,167 $ 52,768 $ 55,086 $ 56,082 $ 52,722 $ 50,929
B. Federal Income Tax 10,559 24,822 26,237 31,068 28,687 26,806
C. Earnings before Income Taxes $ 29,726 $ 77,590 $ 81,323 $ 87,150 $ 81,409 $ 77,735
D. Fixed Charges
Interest on Mortgage Bonds 3,559 14,237 14,237 15,112 16,862 19,624
Interest on Other Long-Term Debt 2,082 8,859 8,860 8,505 9,063 7,917
Other Interest 889 2,868 2,647 2,626 1,917 1,784
Interest Portion of Rents 251 1,006 1,020 1,094 1,522 1,561
Amortization of Premium & Expense
on Debt 226 906 906 940 1,069 1,793
7,007 27,876 27,670 28,277 30,433 32,679
E. Total Earnings $ 36,733 $105,466 $108,993 $115,427 $111,842 $110,414
Preferred Dividend Requirements:
F. Allowance for Preferred Stock
Dividends Under IRC Sec 247 $ 807 $ 3,230 $ 3,230 $ 3,230 $ 4,903 $ 5,127
G. Less Allowable Dividend Deduction 32 127 127 127 528 528
H. Net Subject to Gross-up 775 3,103 3,103 3,103 4,375 4,599
I. Ratio of Earnings before Income
Taxes to Net Income (C/A) 1.551 1.470 1.476 1.554 1.544 1.526
J. Pref. Dividend (Pre-tax) (HxI) 1,202 4,561 4,580 4,822 6,755 7,018
K. Plus Allowable Dividend Deduction 32 127 127 127 528 528
L. Preferred Dividend Factor 1,234 4,688 4,707 4,949 7,283 7,546
M. Fixed Charges (D) 7,007 27,876 27,670 28,277 30,433 32,679
N. Total Fixed Charges
and Preferred Dividends $ 8,241 $ 32,564 $ 32,377 $ 33,226 $ 37,716 $ 40,225
O. Ratio of Earnings to Fixed
Charges (E/D) 5.24 3.78 3.94 4.08 3.68 3.38
P. Ratio of Earnings to Fixed Charges
and Preferred Dividends (E/N) 4.46 3.24 3.37 3.47 2.97 2.74
(1)Restated to properly reflect the exclusion of AFUDC from fixed charges.
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