EX-12 9 exh12clp.htm EXH. 12 CL&P Exh 12 CL&P





The Connecticut Light and Power Company

 

 

 

 

 

 

 

 

 

 

 

Exhibit 12

Ratio of Earnings to Fixed Charges

 

 

 

 

 

 

 

 

 

 

 

 

(unaudited)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(Thousands of Dollars)

 

Six Months

 

 

 

 

 

 

 

 

 

 

 

 

Ended

For the Years Ended December 31,

 

 

June 30, 2010

 

2009 

 

2008 

 

2007 

 

2006 

 

2005 

Earnings, as defined:

 

 

 

 

 

 

 

 

 

 

 

 

 Net income

$

92,498 

$

216,316 

$

191,158 

$

133,564 

$

200,007 

$

94,845 

   Income tax expense/(benefit)

 

69,102 

 

118,847 

 

77,852 

 

52,353 

 

(43,961)

 

32,174 

   Equity in (earnings)/losses of regional

 

 

 

 

 

 

 

 

 

 

 

 

     nuclear generating companies

 

(68)

 

(282)

 

(366)

 

(1,901)

 

854 

 

(1,153)

   Dividends received from regional equity investees

 

1,520 

 

 

2,596 

 

1,407 

 

412 

   Fixed charges, as below

 

80,051 

 

163,887 

 

165,170 

 

155,557 

 

131,923 

 

133,321 

   Less: Interest capitalized (including AFUDC)

 

(1,383)

 

(2,203)

 

(12,991)

 

(10,924)

 

(6,610)

 

(6,719)

 Total earnings, as defined

$

240,200 

$

498,085 

$

420,823 

$

331,245 

$

283,620 

$

252,880 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed charges, as defined:

 

 

 

 

 

 

 

 

 

 

 

 

   Interest on long-term debt (a)

$

67,262 

$

133,422 

$

104,954 

$

84,292 

$

64,873 

$

59,019 

   Interest on rate reduction bonds

 

5,275 

 

19,061 

 

29,129 

 

37,728 

 

46,692 

 

55,796 

   Other interest (b)

 

3,197 

 

3,334 

 

12,163 

 

16,413 

 

6,281 

 

5,220 

   Rental interest factor

 

2,934 

 

5,867 

 

5,933 

 

6,200 

 

7,467 

 

6,567 

   Interest capitalized (including AFUDC)

 

1,383 

 

2,203 

 

12,991 

 

10,924 

 

6,610 

 

6,719 

 Total fixed charges, as defined

$

80,051 

$

163,887 

$

165,170 

$

155,557 

$

131,923 

$

133,321 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ratio of Earnings to Fixed Charges

 

3.00 

 

3.04 

 

2.55 

 

2.13 

 

2.15 

 

1.90 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(a)

Interest on long-term debt amounts include amortized premiums, discounts and capitalized expenses related to indebtedness.

 

 

 

 

(b)

For the six months ended June 30, 2010 and for the years ended December 31, 2009, 2008 and 2007, other interest includes interest related to accounting for uncertain tax positions.