EX-12 3 q3201610q-exhibit12xclp.htm EXHIBIT 12 - CL&P Exhibit


The Connecticut Light and Power Company
 
 
 
 
 
 
 
 
 
 
 
Exhibit 12

Ratio of Earnings to Fixed Charges
 
 
 
 
 
 
 
 
 
 
 
 
(Unaudited)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Nine Months Ended September 30, 2016
 
 
 
 
 
 
 
 
 
 
 
 
 
For the Years Ended December 31,
(Thousands of Dollars)
 
 
2015
 
2014
 
2013
 
2012
 
2011
Earnings, as defined:
 
 
 
 
 
 
 
 
 
 
 
 
Net income
 
$
256,553

 
$
299,360

 
$
287,754

 
$
279,412

 
$
209,725

 
$
250,164

Income tax expense
 
155,453

 
177,396

 
133,451

 
141,663

 
94,437

 
90,033

Equity in earnings of equity investees
 
(27
)
 
(31
)
 
(32
)
 
(67
)
 
(40
)
 
(16
)
Dividends received from equity investees
 
60

 
—

 
—

 
289

 
—

 
—

Fixed charges, as below
 
114,872

 
153,751

 
152,513

 
139,929

 
139,982

 
140,311

Less: Interest capitalized (including AFUDC)
 
(2,316
)
 
(2,630
)
 
(1,867
)
 
(2,249
)
 
(2,456
)
 
(3,317
)
Total earnings, as defined
 
$
524,595

 
$
627,846

 
$
571,819

 
$
558,977

 
$
441,648

 
$
477,175

 
 
 
 
 
 
 
 
 
 
 
 
 
Fixed charges, as defined:
 
 

 
 

 
 

 
 

 
 

 
 

Interest Expense
 
$
108,561

 
$
145,795

 
$
147,421

 
$
133,650

 
$
133,127

 
$
132,727

Rental interest factor
 
3,995

 
5,326

 
3,225

 
4,030

 
4,399

 
4,267

Interest capitalized (including AFUDC)
 
2,316

 
2,630

 
1,867

 
2,249

 
2,456

 
3,317

Total fixed charges, as defined
 
$
114,872

 
$
153,751

 
$
152,513

 
$
139,929

 
$
139,982

 
$
140,311

 
 
 
 
 
 
 
 
 
 
 
 
 
Ratio of Earnings to Fixed Charges
 
4.57

 
4.08

 
3.75

 
3.99

 
3.16

 
3.40