EX-12 11 exh12clp.htm EXHIBIT 12 CL&P Converted by EDGARwiz







The Connecticut Light and Power Company

 

 

 

 

 

 

 

 

 

Exhibit 12

Ratio of Earnings to Fixed Charges

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(Thousands of Dollars)

 

 

 

 

 

 

 

 

 

 

 

For the Years Ended December 31,

 

 

2013

 

2012

 

2011

 

2010

 

2009 

Earnings, as defined:

 

 

 

 

 

 

 

 

 

 

 Net income

$

 279,412 

$

 209,725 

$

 250,164 

$

 244,143 

$

 216,316 

   Income tax expense

 

 141,663 

 

 94,437 

 

 90,033 

 

 132,438 

 

 118,847 

   Equity in earnings of regional nuclear

 

 

 

 

 

 

 

 

 

 

     generating companies

 

 (67)

 

 (40)

 

 (16)

 

 (134)

 

 (282)

   Dividends received from regional equity investees

 

 289 

 

 - 

 

 - 

 

 440 

 

 1,520 

   Fixed charges, as below

 

 139,929 

 

 139,982 

 

 140,311 

 

 145,297 

 

 163,887 

   Less: Interest capitalized (including AFUDC)

 

 (2,249)

 

 (2,456)

 

 (3,317)

 

 (2,726)

 

 (2,203)

 Total earnings, as defined

$

 558,977 

$

 441,648 

$

 477,175 

$

 519,458 

$

 498,085 

 

 

 

 

 

 

 

 

 

 

 

Fixed charges, as defined:

 

 

 

 

 

 

 

 

 

 

   Interest on long-term debt (a)

$

 130,620 

$

 124,894 

$

 131,918 

$

 134,553 

$

 133,422 

   Interest on rate reduction bonds

 

 - 

 

 - 

 

 - 

 

 7,542 

 

 19,061 

   Other interest (b)

 

 3,030 

 

 8,233 

 

 809 

 

 (4,357)

 

 3,334 

   Rental interest factor

 

 4,030 

 

 4,399 

 

 4,267 

 

 4,833 

 

 5,867 

   Interest capitalized (including AFUDC)

 

 2,249 

 

 2,456 

 

 3,317 

 

 2,726 

 

 2,203 

 Total fixed charges, as defined

$

 139,929 

$

 139,982 

$

 140,311 

$

 145,297 

$

 163,887 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ratio of Earnings to Fixed Charges

 

 3.99 

 

 3.16 

 

 3.40 

 

 3.58 

 

 3.04 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(a) Interest on long-term debt includes amortized premiums, discounts and capitalized expenses related to indebtedness.

 

 

 

 

 

 

 

 

 

 

 

(b) For all years presented, other interest includes interest related to accounting for uncertain tax positions.