EX-12 2 cercexhibit12_9302012.htm EXHIBIT CERC Exhibit 12_9.30.2012


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)

 
Nine Months Ended September 30,
 
2011 (1)
 
2012 (1)
 
 
 
 
Net Income
$
223

 
$
33

Equity in earnings of unconsolidated affiliates, net of distributions
3

 
(6
)
Income taxes
143

 
178

Capitalized interest
(2
)
 
(2
)
 
367

 
203

 
 

 
 

Fixed charges, as defined:
 

 
 

 
 

 
 

Interest
142

 
133

Capitalized interest
2

 
2

Interest component of rentals charged to operating expense
11

 
6

Total fixed charges
155

 
141

 
 

 
 

Earnings, as defined
$
522

 
$
344

 
 

 
 

Ratio of earnings to fixed charges
3.37

 
2.44

         ___________
(1)
Excluded from the computation of fixed charges for the six months ended September 30, 2011 and 2012 is interest expense of less than $1 million and interest income of $3 million, respectively, which is included in income tax expense.