Exhibit 12.1(B)
The Connecticut Light and Power Company
Ratio of Earnings to Fixed Charges
(In thousands)
Earnings, as defined: |
| 2006 |
| 2005 |
| 2004 |
| 2003 |
| 2002 |
| 2001 |
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Net income |
| $ | 200,007 |
| $ | 94,845 |
| $ | 88,016 |
| $ | 68,908 |
| $ | 85,612 |
| $ | 109,803 |
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Income tax (benefit)/expense |
| (43,961 | ) | 32,174 |
| 45,539 |
| 18,135 |
| 60,333 |
| 84,901 |
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Equity in losses/(earnings) of regional nuclear generating and transmission companies |
| 854 |
| (1,153 | ) | (568 | ) | (1,776 | ) | (5,982 | ) | (1,128 | ) | ||||||
Dividends received from regional equity investees |
| 1,407 |
| 412 |
| 2,577 |
| 6,359 |
| 7,568 |
| 4,844 |
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Fixed charges, as below |
| 127,897 |
| 129,088 |
| 118,843 |
| 118,655 |
| 128,724 |
| 129,270 |
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Interest capitalized (not including AFUDC) |
| — |
| — |
| — |
| — |
| — |
| — |
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Total earnings, as defined |
| $ | 286,204 |
| $ | 255,366 |
| $ | 254,407 |
| $ | 210,281 |
| $ | 276,255 |
| $ | 327,690 |
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Fixed charges, as defined: |
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Interest on long-term debt |
| $ | 64,873 |
| $ | 59,019 |
| $ | 43,308 |
| $ | 39,815 |
| $ | 41,332 |
| $ | 56,527 |
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Interest on rate reduction bonds |
| 46,692 |
| 55,796 |
| 63,667 |
| 70,284 |
| 75,705 |
| 60,644 |
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Other interest |
| 6,281 |
| 5,220 |
| 3,072 |
| 508 |
| 3,925 |
| 3,958 |
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Rental interest factor |
| 7,467 |
| 6,567 |
| 6,700 |
| 5,967 |
| 5,533 |
| 5,767 |
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Amortized premiums, discounts and capitalized expenses related to indebtedness |
| 2,584 |
| 2,486 |
| 2,096 |
| 2,081 |
| 2,229 |
| 2,374 |
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Interest capitalized (not including AFUDC) |
| — |
| — |
| — |
| — |
| — |
| — |
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Total fixed charges, as defined |
| $ | 127,897 |
| $ | 129,088 |
| $ | 118,843 |
| $ | 118,655 |
| $ | 128,724 |
| $ | 129,270 |
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Ratio of Earnings to Fixed Charges |
| 2.24 |
| 1.98 |
| 2.14 |
| 1.77 |
| 2.15 |
| 2.53 |
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