NSTAR Electric Company |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Exhibit 12 |
Ratio of Earnings to Fixed Charges |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(Unaudited) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(Thousands of Dollars) |
| Nine Months |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Ended |
| For the Years Ended December 31, | |||||||||||||
|
| September 30, 2012 |
|
| 2011 |
|
| 2010 |
|
| 2009 |
|
| 2008 |
|
| 2007 |
Earnings, as defined: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income | $ | 156,184 |
| $ | 252,494 |
| $ | 248,575 |
| $ | 240,691 |
| $ | 223,897 |
| $ | 216,502 |
Income tax expense |
| 102,220 |
|
| 165,686 |
|
| 162,020 |
|
| 151,224 |
|
| 141,847 |
|
| 135,260 |
Equity in earnings of regional nuclear |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
generating companies |
| (301) |
|
| (501) |
|
| (836) |
|
| (891) |
|
| (820) |
|
| (1,495) |
Dividends received from regional equity investees |
| 286 |
|
| 676 |
|
| 669 |
|
| 1,661 |
|
| 416 |
|
| 1,637 |
Fixed charges, as below |
| 59,131 |
|
| 76,219 |
|
| 77,902 |
|
| 84,826 |
|
| 103,661 |
|
| 105,338 |
Less: Interest capitalized (including AFUDC) (b) |
| (254) |
|
| (185) |
|
| (108) |
|
| 76 |
|
| (1,926) |
|
| (3,866) |
Total earnings, as defined | $ | 317,266 |
| $ | 494,389 |
| $ | 488,222 |
| $ | 477,587 |
| $ | 467,075 |
| $ | 453,376 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Fixed charges, as defined: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest on long-term debt (a) (b) | $ | 66,953 |
| $ | 90,040 |
| $ | 90,636 |
| $ | 83,261 |
| $ | 76,793 |
| $ | 59,799 |
Interest on rate reduction bonds (b) |
| 3,106 |
|
| 7,226 |
|
| 11,229 |
|
| 18,833 |
|
| 27,076 |
|
| 35,061 |
Other interest (b) (c) |
| (16,137) |
|
| (27,839) |
|
| (30,475) |
|
| (24,519) |
|
| (9,789) |
|
| (414) |
Rental interest factor |
| 4,955 |
|
| 6,607 |
|
| 6,404 |
|
| 7,327 |
|
| 7,655 |
|
| 7,026 |
Interest capitalized (including AFUDC) (b) |
| 254 |
|
| 185 |
|
| 108 |
|
| (76) |
|
| 1,926 |
|
| 3,866 |
Total fixed charges, as defined | $ | 59,131 |
| $ | 76,219 |
| $ | 77,902 |
| $ | 84,826 |
| $ | 103,661 |
| $ | 105,338 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Ratio of Earnings to Fixed Charges |
| 5.37 |
|
| 6.49 |
|
| 6.27 |
|
| 5.63 |
|
| 4.51 |
|
| 4.30 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(a) Interest on long-term debt includes amortized premiums, discounts and capitalized expenses related to indebtedness. | |||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(b) Prior period amounts have been reclassified for comparative purposes and in order to conform to NU's presentation. | |||||||||||||||||
| |||||||||||||||||
(c) For the year ended December 31, 2007, other interest includes interest related to accounting for uncertain tax positions. |
- NSARO Dashboard
- Financials
- Filings
- ETFs
- Institutional
-
10-Q Filing
NSTAR Electric (NSARO) 10-Q2012 Q3 Quarterly report
Filed: 7 Nov 12, 12:00am