EX-12.1(B) 7 a2176733zex-12_1b.htm EXHIBIT 12.1(B)

Exhibit 12.1(B)

 

The Connecticut Light and Power Company

Ratio of Earnings to Fixed Charges

(In thousands)

 

Earnings, as defined:

 

2006

 

2005

 

2004

 

2003

 

2002

 

2001

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income

 

$

200,007

 

$

94,845

 

$

88,016

 

$

68,908

 

$

85,612

 

$

109,803

 

Income tax (benefit)/expense

 

(43,961

)

32,174

 

45,539

 

18,135

 

60,333

 

84,901

 

Equity in losses/(earnings) of regional nuclear generating and transmission companies

 

854

 

(1,153

)

(568

)

(1,776

)

(5,982

)

(1,128

)

Dividends received from regional equity investees

 

1,407

 

412

 

2,577

 

6,359

 

7,568

 

4,844

 

Fixed charges, as below

 

127,897

 

129,088

 

118,843

 

118,655

 

128,724

 

129,270

 

Interest capitalized (not including AFUDC)

 

 

 

 

 

 

 

Total earnings, as defined

 

$

286,204

 

$

255,366

 

$

254,407

 

$

210,281

 

$

276,255

 

$

327,690

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed charges, as defined:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest on long-term debt

 

$

64,873

 

$

59,019

 

$

43,308

 

$

39,815

 

$

41,332

 

$

56,527

 

Interest on rate reduction bonds

 

46,692

 

55,796

 

63,667

 

70,284

 

75,705

 

60,644

 

Other interest

 

6,281

 

5,220

 

3,072

 

508

 

3,925

 

3,958

 

Rental interest factor

 

7,467

 

6,567

 

6,700

 

5,967

 

5,533

 

5,767

 

Amortized premiums, discounts and capitalized expenses related to indebtedness

 

2,584

 

2,486

 

2,096

 

2,081

 

2,229

 

2,374

 

Interest capitalized (not including AFUDC)

 

 

 

 

 

 

 

Total fixed charges, as defined

 

$

127,897

 

$

129,088

 

$

118,843

 

$

118,655

 

$

128,724

 

$

129,270

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ratio of Earnings to Fixed Charges

 

2.24

 

1.98

 

2.14

 

1.77

 

2.15

 

2.53