EX-12 5 y45127ex12.txt EXHIBIT 12 1 NORTHEAST UTILITIES Exhibit 12 Ratio of Earnings to Fixed Charges (Thousands of Dollars)
YEAR YEAR YEAR YEAR YEAR 12 MONTHS 1995 1996 1997 1998 1999 SEP-00 ---- ---- ---- ---- ---- --------- Earnings, as defined: Net income (loss) before extraordinary item $ 282,434 $ 38,929 $ (129,962) $ (146,753) $ 34,216 $ 136,662 Income taxes 261,970 96,110 1,948 5,939 98,611 152,117 Equity in earnings of regional nuclear generating and transmission companies (3,094) (6,649) (4,653) (1,456) (2,905) (4,559) Minority interest 8,732 9,300 9,300 9,300 9,300 9,300 Fixed charges, as below 321,185 298,193 291,348 292,622 279,851 301,367 --------- --------- --------- --------- --------- --------- Total earnings, as defined: $ 871,227 $ 435,883 $ 167,981 $ 159,652 $ 419,073 $ 594,887 ========= ========= ========= ========= ========= ========= Fixed Charges, as defined: Interest on long-term debt $ 315,862 $ 285,463 $ 282,095 $ 273,824 $ 258,093 $ 218,661 Other interest (16,644) (7,470) (10,114) (4,735) 5,558 70,495 Rental interest factor 21,967 20,200 19,367 23,533 16,200 12,211 --------- --------- --------- --------- --------- --------- Total fixed charges, as defined $ 321,185 $ 298,193 $ 291,348 $ 292,622 $ 279,851 $ 301,367 ========= ========= ========= ========= ========= ========= Ratio of earnings to fixed charges 2.71 1.46 0.58 0.55 1.50 1.97 ========= ========= ========= ========= ========= =========