Public Service Company of New Hampshire |
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| Exhibit 12 | ||||||
Ratio of Earnings to Fixed Charges |
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(In thousands) |
| Six Months |
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| June 30, 2008 |
| Year Ended December 31, | ||||||||
Earnings, as defined: |
| (unaudited) |
| 2007 |
| 2006 |
| 2005 |
| 2004 |
| 2003 |
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Net income |
| $ 30,380 |
| $ 54,434 |
| $ 35,323 |
| $ 41,739 |
| $ 46,641 |
| $ 45,624 |
Income tax expense |
| 12,997 |
| 22,794 |
| 39,183 |
| 12,234 |
| 12,993 |
| 29,773 |
Equity in (earnings)/losses of |
| (35) |
| (343) |
| 74 |
| (230) |
| (165) |
| (353) |
Dividends received from regional |
| - |
| 521 |
| 367 |
| 172 |
| 614 |
| 1,219 |
Fixed charges, as below |
| 26,428 |
| 50,637 |
| 50,092 |
| 49,751 |
| 47,211 |
| 47,168 |
Less: Interest capitalized |
| (1,623) |
| (2,985) |
| (2,768) |
| (1,896) |
| (272) |
| (552) |
Total earnings, as defined |
| $ 68,147 |
| $ 125,058 |
| $ 122,271 |
| $ 101,770 |
| $ 107,022 |
| $ 122,879 |
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Fixed charges, as defined: |
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Interest on long-term debt (a) |
| $ 14,999 |
| $ 26,029 |
| $ 24,100 |
| $ 20,481 |
| $ 17,441 |
| $ 15,408 |
Interest on rate reduction bonds |
| 8,232 |
| 18,013 |
| 20,828 |
| 24,074 |
| 26,901 |
| 29,081 |
Other interest |
| 890 |
| 2,243 |
| 829 |
| 1,733 |
| 1,197 |
| 727 |
Rental interest factor |
| 684 |
| 1,367 |
| 1,567 |
| 1,567 |
| 1,400 |
| 1,400 |
Interest capitalized (including AFUDC) |
| 1,623 |
| 2,985 |
| 2,768 |
| 1,896 |
| 272 |
| 552 |
Total fixed charges, as defined |
| $ 26,428 |
| $ 50,637 |
| $ 50,092 |
| $ 49,751 |
| $ 47,211 |
| $ 47,168 |
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Ratio of Earnings to Fixed Charges |
| 2.58 |
| 2.47 |
| 2.44 |
| 2.05 |
| 2.27 |
| 2.61 |
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(a) Interest on long-term debt amounts include amortized premiums, discounts and capitalized expenses related to indebtedness. |
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10-Q Filing
The Connecticut Light and Power Company (CNLHO) 10-Q2008 Q2 Quarterly report
Filed: 7 Aug 08, 12:00am