Public Service Company of New Hampshire |
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| Exhibit 12 |
Ratio of Earnings to Fixed Charges |
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(Unaudited) |
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(Thousands of Dollars) |
| Nine Months |
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| Ended |
| For the Years Ended December 31, | |||||||||||||
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| September 30, 2012 |
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| 2011 |
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| 2010 |
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| 2009 |
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| 2008 |
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| 2007 |
Earnings, as defined: |
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Net income | $ | 69,726 |
| $ | 100,267 |
| $ | 90,067 |
| $ | 65,570 |
| $ | 58,067 |
| $ | 54,434 |
Income tax expense |
| 48,037 |
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| 49,945 |
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| 50,801 |
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| 31,990 |
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| 21,996 |
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| 22,794 |
Equity in earnings of regional nuclear |
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generating companies |
| (6) |
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| (7) |
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| (23) |
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| (50) |
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| (62) |
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| (343) |
Dividends received from regional equity investees |
| - |
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| - |
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| 80 |
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| 220 |
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| - |
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| 521 |
Fixed charges, as below |
| 40,190 |
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| 52,111 |
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| 54,721 |
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| 51,227 |
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| 54,597 |
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| 50,637 |
Less: Interest capitalized (including AFUDC) |
| (1,311) |
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| (7,064) |
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| (6,621) |
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| (3,138) |
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| (2,967) |
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| (2,985) |
Total earnings, as defined | $ | 156,636 |
| $ | 195,252 |
| $ | 189,025 |
| $ | 145,819 |
| $ | 131,631 |
| $ | 125,058 |
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Fixed charges, as defined: |
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Interest on long-term debt (a) | $ | 34,537 |
| $ | 36,832 |
| $ | 36,220 |
| $ | 33,045 |
| $ | 32,655 |
| $ | 26,029 |
Interest on rate reduction bonds |
| 2,366 |
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| 6,276 |
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| 9,660 |
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| 13,128 |
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| 15,969 |
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| 18,013 |
Other interest (b) |
| 1,301 |
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| 1,039 |
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| 1,187 |
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| 316 |
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| 1,539 |
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| 2,243 |
Rental interest factor |
| 675 |
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| 900 |
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| 1,033 |
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| 1,600 |
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| 1,467 |
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| 1,367 |
Interest capitalized (including AFUDC) |
| 1,311 |
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| 7,064 |
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| 6,621 |
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| 3,138 |
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| 2,967 |
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| 2,985 |
Total fixed charges, as defined | $ | 40,190 |
| $ | 52,111 |
| $ | 54,721 |
| $ | 51,227 |
| $ | 54,597 |
| $ | 50,637 |
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Ratio of Earnings to Fixed Charges |
| 3.90 |
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| 3.75 |
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| 3.45 |
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| 2.85 |
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| 2.41 |
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| 2.47 |
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(a) Interest on long-term debt includes amortized premiums, discounts and capitalized expenses related to indebtedness. | |||||||||||||||||
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(b) For the years ended December 31, 2011, 2010 and 2009, other interest includes interest related to accounting for uncertain tax positions. |
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- Filings
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10-Q Filing
Western Massachusetts Electric Inactive 10-Q2012 Q3 Quarterly report
Filed: 7 Nov 12, 12:00am