EX-12 12 exh12nstar.htm EXHIBIT 12 NSTAR Converted by EDGARwiz






NSTAR Electric Company

 

Exhibit 12

 

Ratio of Earnings to Fixed Charges

 

 

 

(Unaudited)

 

 

 

 

 

 

 

(Thousands of Dollars)

 

Six Months

 

 

 

Ended

 

 

 

June 30, 2012

 

Earnings, as defined:

 

 

 

   Net income

$

 49,422 

 

   Income tax expense

 

 32,847 

 

   Equity in earnings of regional nuclear

 

 

 

     generating companies

 

 (199)

 

   Dividends received from regional equity investees

 

 264 

 

   Fixed charges, as below

 

 38,519 

 

   Less: Interest capitalized (including AFUDC)

 

 171 

 

Total earnings, as defined

$

 121,024 

 

 

 

 

 

Fixed charges, as defined:

 

 

 

   Interest on long-term debt (a)

$

 44,567 

 

   Interest on rate reduction bonds

 

 2,253 

 

   Other interest

 

 (11,433)

 

   Rental interest factor

 

 3,303 

 

   Interest capitalized (including AFUDC)

 

 (171)

 

 Total fixed charges, as defined

$

 38,519 

 

 

 

 

 

 

 

 

 

Ratio of Earnings to Fixed Charges

 

 3.14 

 

 

 

 

 

 

 

 

 

(a)

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