EX-12 15 a201710k-exhibit12clp.htm EXHIBIT 12 - CL&P Exhibit


The Connecticut Light and Power Company
 
 
 
 
 
Exhibit 12

Ratio of Earnings to Fixed Charges
 
 
 
 
 
 
 
 
For the Years Ended December 31,
(Thousands of Dollars)
 
2017
 
2016
 
2015
 
2014
 
2013
Earnings, as defined:
 
 
 
 
 
 
 
 
 
 
   Net income
 
$
376,726

 
$
334,254

 
$
299,360

 
$
287,754

 
$
279,412

   Income tax expense
 
186,646

 
208,308

 
177,396

 
133,451

 
141,663

   Equity in earnings of equity investees
 
(39
)
 
(61
)
 
(31
)
 
(32
)
 
(67
)
   Dividends received from equity investees
 
—

 
60

 
—

 
—

 
289

   Fixed charges, as below
 
152,888

 
152,635

 
153,751

 
152,513

 
139,929

   Less: Interest capitalized (including AFUDC)
 
(5,102
)
 
(3,319
)
 
(2,630
)
 
(1,867
)
 
(2,249
)
Total earnings, as defined
 
$
711,119

 
$
691,877

 
$
627,846

 
$
571,819

 
$
558,977

 
 
 
 
 
 
 
 
 
 
 
Fixed charges, as defined:
 
 

 
 

 
 

 
 

 
 

   Interest expense
 
$
142,973

 
$
144,110

 
$
145,795

 
$
147,421

 
$
133,650

   Rental interest factor
 
4,813

 
5,206

 
5,326

 
3,225

 
4,030

   Interest capitalized (including AFUDC)
 
5,102

 
3,319

 
2,630

 
1,867

 
2,249

Total fixed charges, as defined
 
$
152,888

 
$
152,635

 
$
153,751

 
$
152,513

 
$
139,929

 
 
 
 
 
 
 
 
 
 
 
Ratio of Earnings to Fixed Charges
 
4.65

 
4.53

 
4.08

 
3.75

 
3.99