EX-12 2 cercexhibit12.htm COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES CERC Exhibit 12


Exhibit 12

 
CENTERPOINT ENERGY RESOURCES CORP. AND SUBSIDIARIES
(An Indirect Wholly Owned Subsidiary of CenterPoint Energy, Inc.)

COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES
(Millions of Dollars)

 
Year Ended December 31,
 
2007 (1)
 
2008 (1)
 
2009 (1)
 
2010 (1)
 
2011 (1)
 
 
 
 
 
 
 
 
 
 
Net Income
$
287

 
$
343

 
$
230

 
$
300

 
$
316

Equity in earnings of unconsolidated
affiliates, net of distributions
(13
)
 
(51
)
 
(3
)
)
13

 
8

Income taxes
173

 
228

 
146

 
187

 
187

Capitalized interest
(12
)
 
(5
)
 
(2
)
)
(7
)
 
—

 
435

 
515

 
371

 
493

 
511

 
 

 
 

 
 

 
 

 
 

Fixed charges, as defined:
 

 
 

 
 

 
 

 
 

 
 

 
 

 
 

 
 

 
 

Interest
187

 
206

 
213

 
208

 
190

Capitalized interest
12

 
5

 
2

 
7

 
—

Interest component of rentals charged to
operating expense
14

 
13

 
12

 
25

 
14

Total fixed charges
213

 
224

 
227

 
240

 
204

 
 

 
 

 
 

 
 

 
 

Earnings, as defined
$
648

 
$
739

 
$
598

 
$
733

 
$
715

 
 

 
 

 
 

 
 

 
 

Ratio of earnings to fixed charges
3.04

 
3.30

 
2.63

 
3.05

 
3.50

         ___________
(1)
Excluded from the computation of fixed charges for the years ended December 31, 2007, 2008, 2009, 2010 and 2011 is interest income of $2 million, $1 million, $-0-, $1 million and $-0-, respectively, which is included in income tax expense.