EX-12 2 cercexhibit12_12312013.htm EXHIBIT CERC Exhibit 12_12.31.2013


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,
 
2013 (1)
 
2012 (1)
 
2011 (1)
 
2010 (1)
 
2009 (1)
 
 
 
 
 
 
 
 
 
 
Net Income
$
64

 
$
137

 
$
316

 
$
300

 
$
230

Equity in earnings of unconsolidated affiliates, net of distributions
(58
)
 
8

 
8

 
13

 
(3
)
Income taxes
371

 
246

 
187

 
187

 
146

Capitalized interest
(1
)
 
(2
)
 
—

 
(7
)
 
(2
)
 
376

 
389

 
511

 
493

 
371

 
 

 
 

 
 

 
 

 
 

Fixed charges, as defined:
 

 
 

 
 

 
 

 
 

 
 

 
 

 
 

 
 

 
 

Interest
154

 
179

 
190

 
208

 
213

Capitalized interest
1

 
2

 
—

 
7

 
2

Interest component of rentals charged to operating expense
6

 
9

 
14

 
25

 
12

Total fixed charges
161

 
190

 
204

 
240

 
227

 
 

 
 

 
 

 
 

 
 

Earnings, as defined
$
537

 
$
579

 
$
715

 
$
733

 
$
598

 
 

 
 

 
 

 
 

 
 

Ratio of earnings to fixed charges
3.34

 
3.05

 
3.50

 
3.05

 
2.63

         ___________
(1)
Excluded from the computation of fixed charges for the years ended December 31, 2013, 2012, 2011, 2010 and 2009 is interest income of $3 million, $3 million, $-0-, $1 million and $-0-, respectively, which is included in income tax expense.