EX-12 4 exhibit12.txt EXHIBIT 12 Exhibit 12 NORTHEAST UTILITIES Ratio of Earnings to Fixed Charges (Thousands of Dollars)
Year Year Year Year Year 1997 1998 1999 2000 2001 ---- ---- ---- ---- ---- Earnings, as defined: Net income (loss) before extraordinary item and cumulative effect.................... $(129,962) $(146,753) $ 34,216 $205,295 $220,124 Income taxes................................ 1,948 5,939 98,611 161,725 171,483 Equity in earnings of regional nuclear generating and transmission companies................................. (4,653) (1,456) (2,905) 13,667 3,090 Minority interest........................... 9,300 9,300 9,300 9,300 3,100 Fixed charges, as below..................... 291,348 292,622 279,851 311,175 295,141 --------- --------- -------- -------- -------- Total earnings, as defined: $ 167,981 $ 159,652 $419,073 $701,162 $692,938 ========= ========= ======== ======== ======== Fixed Charges, as defined: Interest on long-term debt...................... $ 282,095 $ 273,824 $258,093 $200,696 $147,049 Interest on rate reduction bonds................ - - - - 87,616 Other interest.................................. (10,114) (4,735) 5,558 98,605 44,993 Rental interest factor - capital................ 13,600 18,300 13,700 8,657 13,144 Rental interest factor - 1/3 operating.......... 5,767 5,233 2,500 3,217 2,339 --------- --------- -------- -------- -------- Total fixed charges, as defined................. $ 291,348 $ 292,622 $279,851 $311,175 $295,141 ========= ========= ======== ======== ======== Ratio of earnings to fixed charges................ 0.58 0.55 1.50 2.25 2.35 ========= ========= ======== ======== ========