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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-K/A
AMENDMENT NO. 1
ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934
For the fiscal year ended.................December 31, 1997
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
Securities registered pursuant to Section 12(b) of the Act:
Title of each class Name of each exchange on
which registered
Common Stock, $5.00 par value New York Stock Exchange
Securities registered pursuant to Section 12(g) of the Act:
Title of each class:
Cumulative Preferred Stock:
4 1/2% Series
4.75% Series
Indicate by check mark whether the Registrant (1) has filed
all report 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 by check mark if disclosure of delinquent files
pursuant to Item 405 of Regulation S-K is not contained herein,
and will not be contained, to the best of Registrant's knowledge,
in definitive proxy or information statements incorporated by
reference in Part III of this Form 10-K or any amendment to this
Form 10-K. [X]
The aggregate market value of the voting and non-voting
common equity held by non-affiliates of the Registrant as of
February 9, 1998 was $689,835,480 based upon the lowest price at
which Registrant's Common Stock was traded on such date, as
reported on the New York Stock Exchange listing of composite
transactions.
The number of shares outstanding of Registrant's Common
Stock, as of February 9, 1998, was 17,245,887.
DOCUMENTS INCORPORATED BY REFERENCE
Certain portions of Registrant's Annual Report to
Shareholders, for the fiscal year ended December 31, 1997, are
incorporated by reference in Parts I, II and IV of this Report.
Registrant's definitive Proxy Statement, to be dated March
2, 1998, and to be used in connection with its Annual Meeting of
Shareholders to be held on April 7, 1998, is incorporated by
reference in Part III hereof.
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 Section 13 or 15(d) of the
Securities Exchange Act of 1934, the Company has duly caused this
Report to be signed on its behalf by the undersigned, thereunto
duly authorized.
CENTRAL HUDSON GAS & ELECTRIC CORPORATION
By: (SGD.) PAUL J. GANCI
Paul J. Ganci
(President and Chief Executive 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-K/405 IS BEING SUBMITTED DUE TO A TYPOGRAPHICAL ERROR THAT OCCURRED IN
THE ORIGINAL 10-K/405 ELECTRONIC FILING OF 2/10/98
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> Year Ended December 31,
<S> 1997(1) 1996(1) 1995 1994 1993
Earnings: <C> <C> <C> <C> <C>
A. Net Income $ 55,086 $ 56,082 $ 52,722 $ 50,929 $ 50,390
B. Federal Income Tax 26,237 31,068 28,687 26,806 27,158
C. Earnings before Income Taxes $ 81,323 $ 87,150 $ 81,409 $ 77,735 $ 77,548
D. Total Fixed Charges
Interest on Mortgage Bonds 14,237 15,112 16,862 19,624 22,390
Interest on Other Long-Term Debt 8,860 8,505 9,063 7,917 6,487
Other Interest 2,647 2,626 1,917 1,784 1,204
Interest Portion of Rents 1,020 1,094 1,522 1,561 1,492
Amortization of Premium & Expense
on Debt 906 940 1,069 1,793 2,247
27,670 28,277 30,433 32,679 33,820
E. Total Earnings $108,993 $115,427 $111,842 $110,414 $111,368
Preferred Dividend Requirements:
F. Allowance for Preferred Stock
Dividends Under IRC Sec 247 $ 3,230 $ 3,230 $ 4,903 $ 5,127 $ 5,562
G. Less Allowable Dividend Deduction 127 127 528 528 528
H. Net Subject to Gross-up 3,103 3,103 4,375 4,599 5,034
I. Ratio of Earnings before Income
Taxes to Net Income (C/A) 1.476 1.554 1.544 1.526 1.539
J. Pref. Dividend (Pre-tax) (HxI) 4,580 4,822 6,755 7,018 7,747
K. Plus Allowable Dividend Deduction 127 127 528 528 528
L. Preferred Dividend Factor 4,707 4,949 7,283 7,546 8,275
M. Fixed Charges (D) 27,670 28,277 30,433 32,679 33,820
N. Total Fixed Charges
and Preferred Dividends $ 32,377 $ 33,226 $ 37,716 $ 40,225 $ 42,095
O. Ratio of Earnings to Fixed
Charges (E/D) 3.94 4.08 3.68 3.38 3.29
P. Ratio of Earnings to Fixed Charges
and Preferred Dividends (E/N) 3.37 3.47 2.97 2.74 2.65
(1) Restated to properly reflect the exclusion of AFUDC from fixed charges.
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