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Content analysis
?Positive | ||
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Uncertain | ||
Constraining | ||
Legalese | ||
Litigous | ||
Readability |
H.S. junior Avg
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- 10-Q Quarterly report
- 10.1 Exh. 10.1 Nu
- 10.2 Exh. 10.2 Nu
- 10.3 Exh. 10.3 Nu
- 10.4 Exh. 10.4 Nu
- 10.5 Exh. 10.5 Nu
- 10.6 Exh. 10.6 Nu
- 12 Ratio of Earnings Nu
- 15 D&T Letter
- 31 Exh. 31 Nu
- 31.1 Exh. 31.1 Nu
- 32 Exh. 32
- 10 Exh. 10 CLP
- 10.1 Exh. 10.1 CLP
- 10.2 Exh. 10.2 CLP
- 12 Ratio of Earnings CL&P
- 31 Exh. 31 CL&P
- 31.1 Exh. 31.1 CL&P
- 32 Exh. 32 CL&P
- 12 Ratio of Earnings PSNH
- 31 Exh. 31 PSNH
- 31.1 Exh. 31.1 PSNH
- 32 Exh. 32 PSNH
- 12 Ratio of Earnings Wmeco
- 31 Exh. 31 Wmeco
- 31.1 Exh. 31.1 Wmeco
- 32 Exh. 32 Wmeco
Western Massachusetts Electric Company |
| Exhibit 12 | ||||||||||
Ratio of Earnings to Fixed Charges |
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| Nine Months |
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(In thousands) |
| Ended |
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| September 30, 2008 |
| Year Ended December 31, | ||||||||
Earnings, as defined: |
| (unaudited) |
| 2007 |
| 2006 |
| 2005 |
| 2004 |
| 2003 |
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Net income | $ | 14,805 | $ | 23,604 | $ | 15,644 | $ | 15,085 | $ | 12,373 | $ | 16,212 |
Income tax expense |
| 8,133 |
| 14,586 |
| 7,766 |
| 9,294 |
| 7,187 |
| 11,687 |
Equity in (earnings)/losses of regional nuclear |
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generating companies |
| (78) |
| (526) |
| 241 |
| (311) |
| (149) |
| (473) |
Dividends received from regional equity investees |
| - |
| 701 |
| 372 |
| 103 |
| 687 |
| 1,715 |
Fixed charges, as below |
| 16,430 |
| 22,162 |
| 21,087 |
| 19,801 |
| 17,156 |
| 14,920 |
Less: Interest capitalized (including AFUDC) |
| (722) |
| (983) |
| (853) |
| (455) |
| (220) |
| (68) |
Total earnings, as defined | $ | 38,568 | $ | 59,544 | $ | 44,257 | $ | 43,517 | $ | 37,034 | $ | 43,993 |
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Fixed charges, as defined: |
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Interest on long-term debt (a) | $ | 9,964 | $ | 11,577 | $ | 10,671 | $ | 9,535 | $ | 6,655 | $ | 3,860 |
Interest on rate reduction bonds |
| 3,922 |
| 5,839 |
| 6,723 |
| 7,570 |
| 8,332 |
| 8,994 |
Other interest |
| 822 |
| 2,430 |
| 1,507 |
| 1,041 |
| 782 |
| 965 |
Rental interest factor |
| 1,000 |
| 1,333 |
| 1,333 |
| 1,200 |
| 1,167 |
| 1,033 |
Interest capitalized (including AFUDC) |
| 722 |
| 983 |
| 853 |
| 455 |
| 220 |
| 68 |
Total fixed charges, as defined | $ | 16,430 | $ | 22,162 | $ | 21,087 | $ | 19,801 | $ | 17,156 | $ | 14,920 |
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Ratio of Earnings to Fixed Charges |
| 2.35 |
| 2.69 |
| 2.10 |
| 2.20 |
| 2.16 |
| 2.95 |
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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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