Attached files
| file | filename |
|---|---|
| 10-Q - FORM 10-Q - BALTIMORE GAS & ELECTRIC CO | a2195176z10-q.htm |
| EX-4.(C) - EXHIBIT 4(C) - BALTIMORE GAS & ELECTRIC CO | a2195176zex-4_c.htm |
| EX-4.(B) - EXHIBIT 4(B) - BALTIMORE GAS & ELECTRIC CO | a2195176zex-4_b.htm |
| EX-12.(B) - EXHIBIT 12(B) - BALTIMORE GAS & ELECTRIC CO | a2195176zex-12_b.htm |
| EX-31.(A) - EXHIBIT 31(A) - BALTIMORE GAS & ELECTRIC CO | a2195176zex-31_a.htm |
| EX-31.(B) - EXHIBIT 31(B) - BALTIMORE GAS & ELECTRIC CO | a2195176zex-31_b.htm |
| EX-31.(C) - EXHIBIT 31(C) - BALTIMORE GAS & ELECTRIC CO | a2195176zex-31_c.htm |
| EX-32.(B) - EXHIBIT 32(B) - BALTIMORE GAS & ELECTRIC CO | a2195176zex-32_b.htm |
| EX-32.(A) - EXHIBIT 32(A) - BALTIMORE GAS & ELECTRIC CO | a2195176zex-32_a.htm |
| EX-32.(C) - EXHIBIT 32(C) - BALTIMORE GAS & ELECTRIC CO | a2195176zex-32_c.htm |
| EX-31.(D) - EXHIBIT 31(D) - BALTIMORE GAS & ELECTRIC CO | a2195176zex-31_d.htm |
| EX-32.(D) - EXHIBIT 32(D) - BALTIMORE GAS & ELECTRIC CO | a2195176zex-32_d.htm |
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CONSTELLATION ENERGY GROUP, INC. AND SUBSIDIARIES
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
| |
9 Months Ended | 12 Months Ended | ||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| |
September 2009 |
December 2008 |
December 2007 |
December 2006 |
December 2005 |
December 2004 |
||||||||||||||
| |
(In millions) |
|||||||||||||||||||
Income (Loss) from Continuing Operations (Before Extraordinary Loss and Cumulative Effects of Changes in Accounting Principles) |
$ | 76.0 | $ | (1,318.4 | ) | $ | 834.5 | $ | 762.5 | $ | 548.1 | $ | 511.0 | |||||||
Net (Income) Loss Attributable to Noncontrolling Interests and BGE Preference Stock Dividends |
(53.8 | ) | 4.0 | (12.1 | ) | (13.9 | ) | (12.2 | ) | (12.6 | ) | |||||||||
Taxes on Income (Loss), Including Tax Effect for BGE Preference Stock Dividends |
(165.3 | ) | (83.6 | ) | 419.2 | 343.1 | 155.4 | 110.2 | ||||||||||||
Adjusted (Loss) Income |
$ | (143.1 | ) | $ | (1,398.0 | ) | $ | 1,241.6 | $ | 1,091.7 | $ | 691.3 | $ | 608.6 | ||||||
Fixed Charges: |
||||||||||||||||||||
Interest and Amortization of Debt Discount and Expense and Premium on all Indebtedness, net of amounts capitalized |
$ | 343.1 | $ | 350.5 | $ | 292.8 | $ | 315.9 | $ | 297.6 | $ | 315.9 | ||||||||
Earnings Required for BGE Preference Stock Dividends |
16.2 | 23.9 | 22.3 | 21.1 | 21.6 | 21.4 | ||||||||||||||
Capitalized Interest and Allowance for Funds Used During Construction |
65.7 | 50.0 | 19.4 | 13.7 | 9.9 | 9.7 | ||||||||||||||
Interest Factor in Rentals |
56.5 | 96.5 | 96.7 | 4.5 | 6.1 | 4.1 | ||||||||||||||
Total Fixed Charges |
$ | 481.5 | $ | 520.9 | $ | 431.2 | $ | 355.2 | $ | 335.2 | $ | 351.1 | ||||||||
Amortization of Capitalized Interest |
$ | 3.0 | $ | 3.3 | $ | 3.5 | $ | 4.3 | $ | 3.7 | $ | 2.8 | ||||||||
Earnings (Loss) (1) |
$ | 275.7 | $ | (923.8 | ) | $ | 1,656.9 | $ | 1,437.5 | $ | 1,020.3 | $ | 952.8 | |||||||
Ratio of Earnings to Fixed Charges |
N/A | N/A | 3.84 | 4.05 | 3.04 | 2.71 | ||||||||||||||
- (1)
- Earnings
(loss) are deemed to consist of income (loss) from continuing operations (before extraordinary items, cumulative effects of changes in accounting
principles, and income (loss) from discontinued operations) that includes earnings of Constellation Energy's consolidated subsidiaries, equity in the net income of unconsolidated subsidiaries, income
taxes (including deferred income taxes, investment tax credit adjustments, and the tax effect of BGE's preference stock dividends), and fixed charges (including the amortization of capitalized
interest but excluding the capitalization of interest).
- N/A
- For
the nine months ended September 30, 2009, the ratio coverage was less than 1:1. We would have needed to generate additional earnings of
$205.8 million to achieve a ratio coverage of 1:1.
Due to the loss for the twelve months ended December 31, 2008, the ratio coverage was less than 1:1. We would have needed to generate additional earnings of $1,444.7 million to achieve a ratio coverage of 1:1.