EX-12 7 q3201710q-exhibit12xclp.htm EXHIBIT 12 - CL&P Exhibit


The Connecticut Light and Power Company
 
 
 
 
 
 
 
 
 
 
Exhibit 12

Ratio of Earnings to Fixed Charges
 
 
 
 
 
 
 
 
 
 
 
(Unaudited)
 
 
 
 
 
 
 
 
 
 
 
 
Nine Months Ended September 30, 2017
 
 
 
 
 
 
 
 
 
 
 
 
For the Years Ended December 31,
(Thousands of Dollars)
 
2016
 
2015
 
2014
 
2013
 
2012
Earnings, as defined:
 
 
 
 
 
 
 
 
 
 
 
Net income
$
277,645

 
$
334,254

 
$
299,360

 
$
287,754

 
$
279,412

 
$
209,725

Income tax expense
159,450

 
208,308

 
177,396

 
133,451

 
141,663

 
94,437

Equity in earnings of equity investees
(31
)
 
(61
)
 
(31
)
 
(32
)
 
(67
)
 
(40
)
Dividends received from equity investees
—

 
60

 
—

 
—

 
289

 
—

Fixed charges, as below
113,943

 
152,635

 
153,751

 
152,513

 
139,929

 
139,982

Less: Interest capitalized (including AFUDC)
(3,461
)
 
(3,319
)
 
(2,630
)
 
(1,867
)
 
(2,249
)
 
(2,456
)
Total earnings, as defined
$
547,546

 
$
691,877

 
$
627,846

 
$
571,819

 
$
558,977

 
$
441,648

 
 
 
 
 
 
 
 
 
 
 
 
Fixed charges, as defined:
 

 
 

 
 

 
 

 
 

 
 

Interest Expense
$
106,577

 
$
144,110

 
$
145,795

 
$
147,421

 
$
133,650

 
$
133,127

Rental interest factor
3,905

 
5,206

 
5,326

 
3,225

 
4,030

 
4,399

Interest capitalized (including AFUDC)
3,461

 
3,319

 
2,630

 
1,867

 
2,249

 
2,456

Total fixed charges, as defined
$
113,943

 
$
152,635

 
$
153,751

 
$
152,513

 
$
139,929

 
$
139,982

 
 
 
 
 
 
 
 
 
 
 
 
Ratio of Earnings to Fixed Charges
4.81

 
4.53

 
4.08

 
3.75

 
3.99

 
3.16