EX-12 9 a201610k-exhibit12clp.htm EXHIBIT 12 - CL&P Exhibit


The Connecticut Light and Power Company
 
 
 
 
 
Exhibit 12

Ratio of Earnings to Fixed Charges
 
 
 
 
 
 
 
 
For the Years Ended December 31,
(Thousands of Dollars)
 
2016
 
2015
 
2014
 
2013
 
2012
Earnings, as defined:
 
 
 
 
 
 
 
 
 
 
   Net income
 
$
334,254

 
$
299,360

 
$
287,754

 
$
279,412

 
$
209,725

   Income tax expense
 
208,308

 
177,396

 
133,451

 
141,663

 
94,437

   Equity in earnings of equity investees
 
(61
)
 
(31
)
 
(32
)
 
(67
)
 
(40
)
   Dividends received from equity investees
 
60

 
—

 
—

 
289

 
—

   Fixed charges, as below
 
152,635

 
153,751

 
152,513

 
139,929

 
139,982

   Less: Interest capitalized (including AFUDC)
 
(3,319
)
 
(2,630
)
 
(1,867
)
 
(2,249
)
 
(2,456
)
Total earnings, as defined
 
$
691,877

 
$
627,846

 
$
571,819

 
$
558,977

 
$
441,648

 
 
 
 
 
 
 
 
 
 
 
Fixed charges, as defined:
 
 

 
 

 
 

 
 

 
 

   Interest expense
 
$
144,110

 
$
145,795

 
$
147,421

 
$
133,650

 
$
133,127

   Rental interest factor
 
5,206

 
5,326

 
3,225

 
4,030

 
4,399

   Interest capitalized (including AFUDC)
 
3,319

 
2,630

 
1,867

 
2,249

 
2,456

Total fixed charges, as defined
 
$
152,635

 
$
153,751

 
$
152,513

 
$
139,929

 
$
139,982

 
 
 
 
 
 
 
 
 
 
 
Ratio of Earnings to Fixed Charges
 
4.53

 
4.08

 
3.75

 
3.99

 
3.16