Exhibit 12.1
NSTAR Electric Company
Computation of Ratio of Earnings to Fixed Charges
Twelve Months Ended September 30, 2008
(in thousands)
Net income from continuing operations |
| $ | 222,256 |
Less: equity income from investees |
|
| 1,391 |
Plus: distributed income of equity investees |
|
| 980 |
Income taxes |
|
| 140,998 |
Fixed charges (including securitization certificates) |
|
| 105,588 |
Total |
| $ | 468,431 |
|
|
|
|
Interest expense (1) |
| $ | 98,562 |
Interest component of rentals (estimated as one-third of rental expense) |
|
| 7,026 |
Total |
| $ | 105,588 |
|
|
|
|
Ratio of earnings to fixed charges |
|
| 4.44 |
|
|
|
|
(1) Interest income, net recorded under FIN 48 is excluded from interest expense for purposes of this ratio.
Exhibit 12.2
NSTAR Electric Company
Computation of Ratio of Earnings to Fixed Charges
and Preferred Stock Dividend Requirements
Twelve Months Ended September 30, 2008
(in thousands)
Net income from continuing operations (before preferred stock dividend) |
| $ | 222,256 |
Less: equity income from investees |
|
| 1,391 |
Plus: distributed income of equity investees |
|
| 980 |
Income taxes |
|
| 140,998 |
Fixed charges (including securitization certificates) |
|
| 105,588 |
Total |
| $ | 468,431 |
|
|
|
|
Interest expense (1) |
| $ | 98,562 |
Interest component of rentals (estimated as one-third of rental expense) |
|
| 7,026 |
Subtotal |
|
| 105,588 |
Preferred stock dividend requirements |
|
| 3,203 |
Total |
| $ | 108,791 |
|
|
|
|
Ratio of earnings to fixed charges and preferred stock dividend requirements |
|
| 4.31 |
|
|
|
|
(1) Interest income, net recorded under FIN 48 is excluded from interest expense for purposes of this ratio.