EX-12 14 0014.txt EXHIBIT 12 NORTHEAST UTILITIES Exhibit 12 Ratio of Earnings to Fixed Charges (Thousands of Dollars)
YEAR YEAR YEAR YEAR YEAR 1996 1997 1998 1999 2000 --------- --------- --------- --------- --------- Earnings, as defined: Net income (loss) before extraordinary item $ 38,929 $(129,962) $(146,753) $ 34,216 $ 205,295 Income taxes 96,110 1,948 5,939 98,611 161,725 Equity in earnings of regional nuclear generating and transmission companies (6,649) (4,653) (1,456) (2,905) (13,667) Minority interest 9,300 9,300 9,300 9,300 9,300 Fixed charges, as below 298,193 291,348 292,622 279,851 311,176 --------- --------- --------- --------- --------- Total earnings, as defined: $ 435,883 $ 167,981 $ 159,652 $ 419,073 $ 673,829 ========= ========= ========= ========= ========= Fixed Charges, as defined: Interest on long-term debt $ 285,463 $ 282,095 $ 273,824 $ 258,093 $ 200,697 Other interest (7,470) (10,114) (4,735) 5,558 98,605 Rental interest factor - capital 14,100 13,600 18,300 13,700 8,657 Rental interest factor - 1/3 operating 6,100 5,767 5,233 2,500 3,217 --------- --------- --------- --------- --------- Total fixed charges, as defined $ 298,193 $ 291,348 $ 292,622 $ 279,851 $ 311,176 ========= ========= ========= ========= ========= Ratio of earnings to fixed charges 1.46 0.58 0.55 1.50 2.17 ========= ========= ========= ========= =========