EX-12 7 exh12clp.htm EXHIBIT 12 CL&P Converted by EDGARwiz







The Connecticut Light and Power Company

 

 

 

 

 

 

 

 

 

 

 

Exhibit 12

Ratio of Earnings to Fixed Charges

 

 

 

 

 

 

 

 

 

 

 

 

(Unaudited)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(Thousands of Dollars)

 

Nine Months

 

 

 

 

 

 

 

 

 

 

 

 

Ended

 

 

 

 

 

 

 

 

 

 

 

 

September 30,

For the Years Ended December 31,

 

 

2013

 

2012

 

2011

 

2010

 

2009

 

2008 

Earnings, as defined:

 

 

 

 

 

 

 

 

 

 

 

 

 Net income

$

 219,188 

$

 209,725 

$

 250,164 

$

 244,143 

$

 216,316 

 191,158 

   Income tax expense

 

 113,149 

 

 94,437 

 

 90,033 

 

 132,438 

 

 118,847 

 

 77,852 

   Equity in earnings of regional nuclear

 

 

 

 

 

 

 

 

 

 

 

 

     generating companies

 

 (58)

 

 (40)

 

 (16)

 

 (134)

 

 (282)

 

 (366)

   Dividends received from regional equity investees

 

 289 

 

 - 

 

 - 

 

 440 

 

 1,520 

 

 - 

   Fixed charges, as below

 

 103,905 

 

 139,982 

 

 140,311 

 

 145,297 

 

 163,887 

 

 165,170 

   Less: Interest capitalized (including AFUDC)

 

 (1,642)

 

 (2,456)

 

 (3,317)

 

 (2,726)

 

 (2,203)

 

 (12,991)

 Total earnings, as defined

$

 434,831 

$

 441,648 

$

 477,175 

$

 519,458 

$

 498,085 

 420,823 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed charges, as defined:

 

 

 

 

 

 

 

 

 

 

 

 

   Interest on long-term debt (a)

$

 98,163 

$

 124,894 

$

 131,918 

$

 134,553 

$

 133,422 

 104,954 

   Interest on rate reduction bonds

 

 - 

 

 - 

 

 - 

 

 7,542 

 

 19,061 

 

 29,129 

   Other interest (b)

 

 801 

 

 8,233 

 

 809 

 

 (4,357)

 

 3,334 

 

 12,163 

   Rental interest factor

 

 3,299 

 

 4,399 

 

 4,267 

 

 4,833 

 

 5,867 

 

 5,933 

   Interest capitalized (including AFUDC)

 

 1,642 

 

 2,456 

 

 3,317 

 

 2,726 

 

 2,203 

 

 12,991 

 Total fixed charges, as defined

$

 103,905 

$

 139,982 

$

 140,311 

$

 145,297 

$

 163,887 

 165,170 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ratio of Earnings to Fixed Charges

 

 4.18 

 

 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.