Public Service Company of New Hampshire and Subsidiary |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Exhibit 12 | |||
Ratio of Earnings to Fixed Charges |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
(Unaudited) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Three Months |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
| Ended |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
| March 31, |
| For the Years Ended December 31, | ||||||||||||||
(Thousands of Dollars) | 2015 |
|
| 2014 |
|
| 2013 |
|
| 2012 |
|
| 2011 |
|
| 2010 | ||
Earnings, as defined: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
| Net income | $ | 32,045 |
| $ | 113,944 |
| $ | 111,397 |
| $ | 96,882 |
| $ | 100,267 |
| $ | 90,067 |
| Income tax expense |
| 20,276 |
|
| 72,135 |
|
| 71,101 |
|
| 60,993 |
|
| 49,945 |
|
| 50,801 |
| Equity in earnings of regional nuclear generating companies |
| (1) |
|
| (8) |
|
| (12) |
|
| (8) |
|
| (7) |
|
| (23) |
| Dividends received from regional equity investees |
| - |
|
| - |
|
| 42 |
|
| - |
|
| - |
|
| 80 |
| Fixed charges, as below |
| 11,559 |
|
| 46,530 |
|
| 47,318 |
|
| 52,769 |
|
| 52,111 |
|
| 54,721 |
| Less: Interest capitalized (including AFUDC) |
| (152) |
|
| (640) |
|
| (500) |
|
| (1,579) |
|
| (7,064) |
|
| (6,621) |
Total earnings, as defined | $ | 63,727 |
| $ | 231,961 |
| $ | 229,346 |
| $ | 209,057 |
| $ | 195,252 |
| $ | 189,025 | |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Fixed charges, as defined: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
| Interest on long-term debt (a) | $ | 11,399 |
| $ | 45,116 |
| $ | 44,370 |
| $ | 46,228 |
| $ | 36,832 |
| $ | 36,220 |
| Interest on rate reduction bonds |
| - |
|
| - |
|
| (154) |
|
| 2,687 |
|
| 6,276 |
|
| 9,660 |
| Other interest (b) |
| (127) |
|
| 233 |
|
| 1,960 |
|
| 1,313 |
|
| 1,039 |
|
| 1,187 |
| Rental interest factor |
| 135 |
|
| 541 |
|
| 642 |
|
| 962 |
|
| 900 |
|
| 1,033 |
| Interest capitalized (including AFUDC) |
| 152 |
|
| 640 |
|
| 500 |
|
| 1,579 |
|
| 7,064 |
|
| 6,621 |
Total fixed charges, as defined | $ | 11,559 |
| $ | 46,530 |
| $ | 47,318 |
| $ | 52,769 |
| $ | 52,111 |
| $ | 54,721 | |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Ratio of Earnings to Fixed Charges |
| 5.51 |
|
| 4.99 |
|
| 4.85 |
|
| 3.96 |
|
| 3.75 |
|
| 3.45 | |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(a) Interest on long-term debt includes amortized premiums, discounts and capitalized expenses related to indebtedness. | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(b) For the years ended December 31, 2011 and 2010, other interest includes interest related to accounting for uncertain tax positions. | ||||||||||||||||||
Western Massachusetts Electric Inactive
Filed: 6 May 15, 12:00am