Exhibit 12
CENTERPOINT ENERGY RESOURCES CORP. AND SUBSIDIARIES
(An Indirect Wholly Owned Subsidiary of CenterPoint Energy, Inc.)
COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES
(Millions of Dollars)
|
| | | | | | | |
| | Nine Months Ended September 30, |
| | 2014 (1) | | 2013 (1) |
| | | | |
| Net income (loss) | $ | 228 |
| | $ | (2 | ) |
| Equity in earnings of unconsolidated affiliates, net of distributions | (6 | ) | | (65 | ) |
| Income taxes | 139 |
| | 313 |
|
| Capitalized interest | — |
| | (1 | ) |
| | 361 |
| | 245 |
|
| | |
| | |
|
| Fixed charges, as defined: | |
| | |
|
| | |
| | |
|
| Interest | 105 |
| | 118 |
|
| Capitalized interest | — |
| | 1 |
|
| Interest component of rentals charged to operating expense | 2 |
| | 5 |
|
| Total fixed charges | 107 |
| | 124 |
|
| | |
| | |
|
| Earnings, as defined | $ | 468 |
| | $ | 369 |
|
| | |
| | |
|
| Ratio of earnings to fixed charges | 4.37 |
| | 2.98 |
|
___________
| |
| (1) | Excluded from the computation of fixed charges for the nine months ended September 30, 2014 and 2013 is interest income of $12 million and $3 million, respectively, which is included in income tax expense. |
