EX-12 8 exhibit12clp.htm EXHIBIT 12 CL&P Exhibit 12 CL&P





The Connecticut Light and Power Company

 

 

 

 

 

 

 

 

 

 

 

Exhibit 12

Ratio of Earnings to Fixed Charges

 

 

 

 

 

 

 

 

 

 

 

 

(Unaudited)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(Thousands of Dollars)

 

Six Months

 

 

 

 

 

 

 

 

 

 

 

 

Ended

For the Years Ended December 31,

 

 

June 30, 2011

 

2010

 

2009

 

2008

 

2007 

 

2006 

Earnings, as defined:

 

 

 

 

 

 

 

 

 

 

 

 

 Net income

$

 116,972 

$

 244,143 

$

 216,316 

$

 191,158 

$

 133,564 

$

200,007

   Income tax expense/(benefit)

 

 66,423 

 

 132,438 

 

 118,847 

 

 77,852 

 

 52,353 

 

(43,961)

   Equity in (earnings)/losses of regional nuclear

 

 

 

 

 

 

 

 

 

 

 

 

     generating companies

 

 (37)

 

 (134)

 

 (282)

 

 (366)

 

 (1,901)

 

854 

   Dividends received from regional equity investees

 

 - 

 

 440 

 

 1,520 

 

 - 

 

 2,596 

 

1,407 

   Fixed charges, as below

 

 67,963 

 

 145,297 

 

 163,887 

 

 165,170 

 

 155,557 

 

131,923 

   Less: Interest capitalized (including AFUDC)

 

 (1,496)

 

 (2,726)

 

 (2,203)

 

 (12,991)

 

 (10,924)

 

(6,610)

 Total earnings, as defined

$

 249,825 

$

 519,458 

$

 498,085 

$

 420,823 

$

 331,245 

$

283,620 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed charges, as defined:

 

 

 

 

 

 

 

 

 

 

 

 

   Interest on long-term debt (a)

$

 66,758 

$

 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)

 

 (2,708)

 

 (4,357)

 

 3,334 

 

 12,163 

 

 16,413 

 

6,281 

   Rental interest factor

 

 2,417 

 

 4,833 

 

 5,867 

 

 5,933 

 

 6,200 

 

7,467 

   Interest capitalized (including AFUDC)

 

 1,496 

 

 2,726 

 

 2,203 

 

 12,991 

 

 10,924 

 

6,610 

 Total fixed charges, as defined

$

 67,963 

$

 145,297 

$

 163,887 

$

 165,170 

$

 155,557 

$

131,923 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ratio of Earnings to Fixed Charges

 

3.68 

 

 3.58 

 

 3.04 

 

 2.55 

 

 2.13 

 

2.15 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(b) For the six months ended June 30, 2011 and for the years ended December 31, 2010, 2009, 2008 and 2007, other interest includes interest related to accounting for uncertain tax positions.