EX-12.(CL&P) 7 a14-11491_1ex12dclp.htm EX-12.(CL&P)

Exhibit 12

 

The Connecticut Light and Power Company

Ratio of Earnings to Fixed Charges

(Unaudited)

 

 

 

Three Months

 

 

 

 

 

 

 

 

 

 

 

 

 

Ended

 

 

 

 

 

 

 

 

 

 

 

 

 

March 31,

 

For the Years Ended December 31,

 

(Thousands of Dollars)

 

2014

 

2013

 

2012

 

2011

 

2010

 

2009

 

Earnings, as defined:

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income

 

$

79,299

 

$

279,412

 

$

209,725

 

$

250,164

 

$

244,143

 

$

216,316

 

Income tax expense

 

45,541

 

141,663

 

94,437

 

90,033

 

132,438

 

118,847

 

Equity in earnings of regional nuclear generating companies

 

(7

)

(67

)

(40

)

(16

)

(134

)

(282

)

Dividends received from regional equity investees

 

 

289

 

 

 

440

 

1,520

 

Fixed charges, as below

 

35,407

 

139,929

 

139,982

 

140,311

 

145,297

 

163,887

 

Less: Interest capitalized (including AFUDC)

 

(156

)

(2,249

)

(2,456

)

(3,317

)

(2,726

)

(2,203

)

Total earnings, as defined

 

$

160,084

 

$

558,977

 

$

441,648

 

$

477,175

 

$

519,458

 

$

498,085

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed charges, as defined:

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest on long-term debt (a)

 

$

32,908

 

$

130,620

 

$

124,894

 

$

131,918

 

$

134,553

 

$

133,422

 

Interest on rate reduction bonds

 

 

 

 

 

7,542

 

19,061

 

Other interest (b)

 

1,335

 

3,030

 

8,233

 

809

 

(4,357

)

3,334

 

Rental interest factor

 

1,008

 

4,030

 

4,399

 

4,267

 

4,833

 

5,867

 

Interest capitalized (including AFUDC)

 

156

 

2,249

 

2,456

 

3,317

 

2,726

 

2,203

 

Total fixed charges, as defined

 

$

35,407

 

$

139,929

 

$

139,982

 

$

140,311

 

$

145,297

 

$

163,887

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ratio of Earnings to Fixed Charges

 

4.52

 

3.99

 

3.16

 

3.40

 

3.58

 

3.04

 

 


(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.