Western Massachusetts Electric 10-Q 2017 Q3 Quarterly report

Eversource Energy and Subsidiaries																Exhibit 12
Ratio of Earnings to Fixed Charges
(Unaudited)
	Nine Months Ended September 30, 2017
				For the Years Ended December 31,
(Thousands of Dollars)				2016			2015			2014			2013			2012 (a)
Earnings, as defined:
Net income	$	756,216		$	949,821		$	886,004		$	827,065		$	793,689		$	533,077
Income tax expense	447,921			554,997			539,967			468,297			426,941			274,926
Equity in earnings of equity investees	(22,975		)	(243		)	(883		)	(1,044		)	(1,318		)	(1,154		)
Dividends received from equity investees	13,996			120			—			—			582			733
Fixed charges, as below	340,994			429,406			397,392			386,451			362,403			353,616
Less: Interest capitalized (including AFUDC)	(8,277		)	(10,791		)	(7,221		)	(5,766		)	(4,062		)	(5,261		)
Preferred dividend security requirements   of consolidated subsidiaries (pre-tax)	(9,398		)	(12,532		)	(12,532		)	(12,532		)	(12,803		)	(11,715		)
Total earnings, as defined	$	1,518,477		$	1,910,778		$	1,802,727		$	1,662,471		$	1,565,432		$	1,144,222
Fixed charges, as defined:
Interest Expense	$	319,477		$	400,961		$	372,420		$	362,106		$	338,699		$	329,945
Rental interest factor	3,842			5,122			5,219			6,047			6,839			6,695
Preferred dividend security requirements   of consolidated subsidiaries (pre-tax)	9,398			12,532			12,532			12,532			12,803			11,715
Interest capitalized (including AFUDC)	8,277			10,791			7,221			5,766			4,062			5,261
Total fixed charges, as defined	$	340,994		$	429,406		$	397,392		$	386,451		$	362,403		$	353,616
Ratio of Earnings to Fixed Charges	4.45			4.45			4.54			4.30			4.32			3.24
(a) NSTAR amounts were included in Eversource beginning April 10, 2012.