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awaiting, CIP, COSA, depressed, EBITDA, enterprise, inclusion, LIFO, MPSC, multiple, nonrecurring, recommending, relief, resolved, SGR, study, unanimously, Uncontested, wrote, yield
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audit, bankruptcy, BBB, dilution, Enogex, optimization, proceeding, remote, throughput, wholly
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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, | |||||||
2015 (1) | 2014 (1) | ||||||
Net income (loss) | $ | (183 | ) | $ | 435 | ||
Equity in (earnings) losses of unconsolidated affiliates, net of distributions | 917 | (6 | ) | ||||
Income tax expense (benefit) | (129 | ) | 241 | ||||
Capitalized interest | (7 | ) | (8 | ) | |||
598 | 662 | ||||||
Fixed charges, as defined: | |||||||
Interest | 346 | 351 | |||||
Capitalized interest | 7 | 8 | |||||
Interest component of rentals charged to operating expense | 3 | 3 | |||||
Total fixed charges | 356 | 362 | |||||
Earnings, as defined | $ | 954 | $ | 1,024 | |||
Ratio of earnings to fixed charges | 2.68 | 2.83 |
_______________
(1) | Excluded from the computation of fixed charges for the nine months ended September 30, 2015 and 2014 is interest expense of $-0- and $3 million, respectively, which is included in income tax expense. |