EX-12 9 exh12clp.htm EXH. 12 CL&P Exh 12 CL&P





The Connecticut Light and Power Company

 

 

 

 

 

 

 

 

 

 

Exhibit 12

Ratio of Earnings to Fixed Charges

 

 

 

 

 

 

 

 

 

 

 

(Unaudited)

 

 

 

 

 

 

 

 

 

 

 

 

(Thousands of Dollars)

 

Three Months

 

 

 

Ended

For the Years Ended December 31,

 

 

March 31, 2011

 

2010

 

2009

 

2008

 

2007

 

2006

Earnings, as defined:

 

 

 

 

 

 

 

 

 

 

 

 

 Net income

$

64,337 

$

244,143 

$

216,316 

$

191,158 

$

133,564 

$

200,007 

   Income tax expense/(benefit)

 

36,499 

 

132,438 

 

118,847 

 

77,852 

 

52,353 

 

(43,961)

   Equity in (earnings)/losses of regional

 

 

 

 

 

 

 

 

 

 

 

 

     nuclear generating companies

 

(23)

 

(134)

 

(282)

 

(366)

 

(1,901)

 

854 

 

 

 

 

 

 

 

 

 

 

 

 

 

   Dividends received from regional

 

 

 

 

 

 

 

 

 

 

 

    equity Investees

 

440 

 

1,520 

 

 

2,596 

 

1,407 

   Fixed charges, as below

 

31,758 

 

145,297 

 

163,887 

 

165,170 

 

155,557 

 

131,923 

   Less: Interest capitalized (including

 

 

 

 

 

 

 

 

 

 

 

 

     AFUDC)

 

(797)

 

(2,726)

 

(2,203)

 

(12,991)

 

(10,924)

 

(6,610)

 Total earnings, as defined

$

131,774 

$

519,458 

$

498,085 

$

420,823 

$

331,245 

$

283,620 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed charges, as defined:

 

 

 

 

 

 

 

 

 

 

 

 

   Interest on long-term debt (a)

$

33,328 

$

134,553 

$

133,422 

$

104,954 

$

84,292 

$

64,873 

   Interest on rate reduction bonds

 

 

7,542 

 

19,061 

 

29,129 

 

37,728 

 

46,692 

   Other interest (b)

 

(3,575)

 

(4,357)

 

3,334 

 

12,163 

 

16,413 

 

6,281 

   Rental interest factor

 

1,208 

 

4,833 

 

5,867 

 

5,933 

 

6,200 

 

7,467 

   Interest capitalized (including AFUDC)

 

797 

 

2,726 

 

2,203 

 

12,991 

 

10,924 

 

6,610 

 Total fixed charges, as defined

$

31,758 

$

145,297 

$

163,887 

$

165,170 

$

155,557 

$

131,923 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ratio of Earnings to Fixed Charges

 

4.15 

 

3.58 

 

3.04 

 

2.55 

 

2.13 

 

2.15 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(a)

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

 

 

 

 

 

(b)

For the three months ended March 31, 2011 and for the years ended December 31, 2010, 2009, 2008 and 2007, other interest includes interest related to accounting for uncertain positions.