EX-12 7 exhibit12clp.htm CL&P EXHIBIT 12 Converted by EDGARwiz







The Connecticut Light and Power Company

 

 

 

 

 

 

 

 

 

 

 

Exhibit 12

Ratio of Earnings to Fixed Charges

 

 

 

 

 

 

 

 

 

 

 

 

(Unaudited)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(Thousands of Dollars)

 

Three Months

 

 

 

 

 

 

 

 

 

 

 

 

Ended

 

 

 

 

 

 

 

 

 

 

 

 

March 31,

For the Years Ended December 31,

 

 

2013

 

2012

 

2011

 

2010

 

2009

 

2008

Earnings, as defined:

 

 

 

 

 

 

 

 

 

 

 

 

 Net income

$

85,008 

$

209,725 

$

250,164 

$

244,143 

$

216,316 

$

191,158 

   Income tax expense

 

39,188 

 

94,437 

 

90,033 

 

132,438 

 

118,847 

 

77,852 

   Equity in earnings of regional nuclear

 

 

 

 

 

 

 

 

 

 

 

 

     generating companies

 

(43)

 

(40)

 

(16)

 

(134)

 

(282)

 

(366)

   Dividends received from regional equity investees

 

289 

 

 

 

440 

 

1,520 

 

   Fixed charges, as below

 

31,183 

 

139,982 

 

140,311 

 

145,297 

 

163,887 

 

165,170 

   Less: Interest capitalized (including AFUDC)

 

(389)

 

(2,456)

 

(3,317)

 

(2,726)

 

(2,203)

 

(12,991)

 Total earnings, as defined

$

155,236 

$

441,648 

$

477,175 

$

519,458 

$

498,085 

$

420,823 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed charges, as defined:

 

 

 

 

 

 

 

 

 

 

 

 

   Interest on long-term debt (a)

$

32,635 

$

124,894 

$

131,918 

$

134,553 

$

133,422 

$

104,954 

   Interest on rate reduction bonds

 

 

 

 

7,542 

 

19,061 

 

29,129 

   Other interest (b)

 

(2,941)

 

8,233 

 

809 

 

(4,357)

 

3,334 

 

12,163 

   Rental interest factor

 

1,100 

 

4,399 

 

4,267 

 

4,833 

 

5,867 

 

5,933 

   Interest capitalized (including AFUDC)

 

389 

 

2,456 

 

3,317 

 

2,726 

 

2,203 

 

12,991 

 Total fixed charges, as defined

$

31,183 

$

139,982 

$

140,311 

$

145,297 

$

163,887 

$

165,170 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ratio of Earnings to Fixed Charges

 

4.98 

 

3.16 

 

3.40 

 

3.58 

 

3.04 

 

2.55 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(a) Interest on long-term debt includes amortized premiums, discounts and capitalized expenses related to indebtedness.

 

 

 

 

 

 

 

 

 

 

 

 

 

(b) For all periods presented, other interest includes interest related to accounting for uncertain tax positions.