Public Service Company of New Hampshire |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Exhibit 12 |
Ratio of Earnings to Fixed Charges |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(Unaudited) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(Thousands of Dollars) |
| Six Months |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Ended |
| For the Years Ended December 31, | |||||||||||||
|
| June 30, 2012 |
|
| 2011 |
|
| 2010 |
|
| 2009 |
|
| 2008 |
|
| 2007 |
Earnings, as defined: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income | $ | 42,494 |
| $ | 100,267 |
| $ | 90,067 |
| $ | 65,570 |
| $ | 58,067 |
| $ | 54,434 |
Income tax expense |
| 26,931 |
|
| 49,945 |
|
| 50,801 |
|
| 31,990 |
|
| 21,996 |
|
| 22,794 |
Equity in earnings of regional nuclear |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
generating companies |
| (4) |
|
| (7) |
|
| (23) |
|
| (50) |
|
| (62) |
|
| (343) |
Dividends received from regional equity investees |
| - |
|
| - |
|
| 80 |
|
| 220 |
|
| - |
|
| 521 |
Fixed charges, as below |
| 26,838 |
|
| 52,111 |
|
| 54,721 |
|
| 51,227 |
|
| 54,597 |
|
| 50,637 |
Less: Interest capitalized (including AFUDC) |
| (791) |
|
| (7,064) |
|
| (6,621) |
|
| (3,138) |
|
| (2,967) |
|
| (2,985) |
Total earnings, as defined | $ | 95,468 |
| $ | 195,252 |
| $ | 189,025 |
| $ | 145,819 |
| $ | 131,631 |
| $ | 125,058 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Fixed charges, as defined: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest on long-term debt (a) | $ | 23,103 |
| $ | 36,832 |
| $ | 36,220 |
| $ | 33,045 |
| $ | 32,655 |
| $ | 26,029 |
Interest on rate reduction bonds |
| 1,802 |
|
| 6,276 |
|
| 9,660 |
|
| 13,128 |
|
| 15,969 |
|
| 18,013 |
Other interest (b) |
| 692 |
|
| 1,039 |
|
| 1,187 |
|
| 316 |
|
| 1,539 |
|
| 2,243 |
Rental interest factor |
| 450 |
|
| 900 |
|
| 1,033 |
|
| 1,600 |
|
| 1,467 |
|
| 1,367 |
Interest capitalized (including AFUDC) |
| 791 |
|
| 7,064 |
|
| 6,621 |
|
| 3,138 |
|
| 2,967 |
|
| 2,985 |
Total fixed charges, as defined | $ | 26,838 |
| $ | 52,111 |
| $ | 54,721 |
| $ | 51,227 |
| $ | 54,597 |
| $ | 50,637 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Ratio of Earnings to Fixed Charges |
| 3.56 |
|
| 3.75 |
|
| 3.45 |
|
| 2.85 |
|
| 2.41 |
|
| 2.47 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(a) Interest on long-term debt includes amortized premiums, discounts and capitalized expenses related to indebtedness. | |||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(b) For the years ended December 31, 2011, 2010 and 2009, other interest includes interest related to accounting for uncertain tax positions. | |||||||||||||||||
NSTAR Electric (NSARO)
Filed: 7 Aug 12, 12:00am