As filed with the Securities and Exchange Commission on May 8, 2000
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8 - K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
DATE OF REPORT - MAY 8, 2000
NIAGARA MOHAWK POWER CORPORATION
--------------------------------
(Exact name of registrant as specified in its charter)
State of New York 1-2987 15-0265555
(State or other jurisdiction (Commission File Number) (I.R.S. Employer
of incorporation) Identification No.)
300 Erie Boulevard West, Syracuse, N.Y. 13202
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code 315-474-1511
<PAGE>
Item 5. Other Events
(a) Registrant hereby files an exhibit which shows the computation of its
ratio of earnings to fixed charges and ratio of earnings to fixed charges
and preferred stock dividends for the twelve months ended March 31, 2000.
Item 7. Financial Statements and Exhibits
(c) Exhibits - The following exhibit is furnished in accordance with the
provisions of Item 601 of Regulation S-K, filed as part of this
current report on Form 8-K.
Exhibit No. 12 - Statement showing computation of ratio of earnings to
fixed charges and ratio of earnings to fixed charges and preferred stock
dividends for the twelve months ended March 31, 2000.
<PAGE>
NIAGARA MOHAWK POWER CORPORATION AND SUBSIDIARY COMPANIES
SIGNATURE
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Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
NIAGARA MOHAWK POWER CORPORATION
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(Registrant)
Date: May 8, 2000 By: /s/Steven W. Tasker
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Steven W. Tasker
Vice President-Controller and
Principal Accounting Officer,
in his respective capacities
as such
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EXHIBIT INDEX
-------------
The following exhibit is furnished in accordance with the provisions
of Item 601 of Regulation S-K, filed as part of this current report on Form 8-K.
Exhibit No. 12 - Statement showing computation of ratio of earnings to fixed
charges and ratio of earnings to fixed charges and preferred stock dividends for
the twelve months ended March 31, 2000
<PAGE>
EXHIBIT 12
NIAGARA MOHAWK POWER CORPORATION AND SUBSIDIARY COMPANIES
Statement Showing Computation of Ratio of Earnings to Fixed
Charges and Ratio of Earnings to Fixed Charges and Preferred Stock Dividends
for the Twelve Months Ended March 31, 2000
(in thousands of dollars)
<TABLE>
<CAPTION>
<S> <C> <C>
A. Net Income (Loss) . . . . . . . . . . . . . . . $ (41,084)
B. Taxes Based on Income or Profits. . . . . . . . (23,062)
----------------
C. Earnings, Before Income Taxes . . . . . . . . . (64,146)
D. Fixed Charges (a). . . . . . . . . . . . . . . 496,352
----------------
E. Earnings Before Income Taxes and Fixed Charges. $ 432,206
================
Preferred Dividend Factor:
H. Preferred Dividend Requirements . . . . . . . . $ 35,688
I. Ratio of Pre-tax Income to Net Income (C / A) . NOT APPLICABLE
----------------
J. Preferred Dividend Factor (H x I) . . . . . . . 35,688
K. Fixed Charges as Above (D). . . . . . . . . . . 496,352
----------------
L. Fixed Charges and Preferred Dividends Combined. $ 532,040
================
M. Ratio of Earnings to Fixed Charges (E / D). . . 0.87 (b)
================
N. Ratio of Earnings to Fixed Charges and
Preferred Dividends Combined (E / L) . . . . 0.81 (c)
================
</TABLE>
(a) Includes a portion of rentals deem representative of the interest factor
of $25,488.
(b) Fixed charges exceed earnings before income taxes and fixed charges by
$64.1 million.
(c) Fixed charges and preferred dividends combined, exceed earnings before
income taxes and fixed charges by $99.8 million.
