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al, alternative, APSC, battery, deficiency, developing, emergence, Foundation, GMESR, intervening, letter, Noble, PBRC, reply, RRA, RSP, swingline, unchanged, Washington
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Exhibit 12
CENTERPOINT ENERGY, INC. AND SUBSIDIARIES
COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES
(Millions of Dollars)
Nine Months Ended September 30, | |||||||
2014 (1) | 2013 (1) | ||||||
Net income | $ | 435 | $ | 198 | |||
Equity in earnings of unconsolidated affiliates, net of distributions | (6 | ) | (65 | ) | |||
Income taxes | 241 | 408 | |||||
Capitalized interest | (8 | ) | (8 | ) | |||
662 | 533 | ||||||
Fixed charges, as defined: | |||||||
Interest | 351 | 370 | |||||
Capitalized interest | 8 | 8 | |||||
Interest component of rentals charged to operating expense | 3 | 5 | |||||
Total fixed charges | 362 | 383 | |||||
Earnings, as defined | $ | 1,024 | $ | 916 | |||
Ratio of earnings to fixed charges | 2.83 | 2.39 |
_______________
(1) | Excluded from the computation of fixed charges for the nine months ended September 30, 2014 and 2013 is interest expense of $3 million and interest income of $6 million, respectively, which is included in income tax expense. |