EX-12 9 exh12clp.htm EXHIBIT 12 CL&P Converted by EDGARwiz





The Connecticut Light and Power Company

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Exhibit 12

Ratio of Earnings to Fixed Charges

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(Unaudited)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(Thousands of Dollars)

 

Nine Months

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ended

 

For the Years Ended December 31,

 

 

September 30, 2012

 

 

2011

 

 

2010

 

 

2009

 

 

2008

 

 

2007 

Earnings, as defined:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

   Net income

$

135,804 

 

$

250,164 

 

$

244,143 

 

$

216,316 

 

$

191,158 

 

$

133,564 

   Income tax expense

 

63,917 

 

 

90,033 

 

 

132,438 

 

 

118,847 

 

 

77,852 

 

 

52,353 

   Equity in earnings of regional nuclear

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

     generating companies

 

(30)

 

 

(16)

 

 

(134)

 

 

(282)

 

 

(366)

 

 

(1,901)

   Dividends received from regional equity investees

 

 

 

 

 

440 

 

 

1,520 

 

 

 

 

2,596 

   Fixed charges, as below

 

106,218 

 

 

140,311 

 

 

145,297 

 

 

163,887 

 

 

165,170 

 

 

155,557 

   Less: Interest capitalized (including AFUDC)

 

(2,149)

 

 

(3,317)

 

 

(2,726)

 

 

(2,203)

 

 

(12,991)

 

 

(10,924)

Total earnings, as defined

$

303,760 

 

$

477,175 

 

$

519,458 

 

$

498,085 

 

$

420,823 

 

$

331,245 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed charges, as defined:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

   Interest on long-term debt (a)

$

94,646 

 

$

131,918 

 

$

134,553 

 

$

133,422 

 

$

104,954 

 

$

84,292 

   Interest on rate reduction bonds

 

 

 

 

 

7,542 

 

 

19,061 

 

 

29,129 

 

 

37,728 

   Other interest (b)

 

6,223 

 

 

809 

 

 

(4,357)

 

 

3,334 

 

 

12,163 

 

 

16,413 

   Rental interest factor

 

3,200 

 

 

4,267 

 

 

4,833 

 

 

5,867 

 

 

5,933 

 

 

6,200 

   Interest capitalized (including AFUDC)

 

2,149 

 

 

3,317 

 

 

2,726 

 

 

2,203 

 

 

12,991 

 

 

10,924 

 Total fixed charges, as defined

$

106,218 

 

$

140,311 

 

$

145,297 

 

$

163,887 

 

$

165,170 

 

$

155,557 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ratio of Earnings to Fixed Charges

 

2.86 

 

 

3.40 

 

 

3.58 

 

 

3.04 

 

 

2.55 

 

 

2.13 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(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.