The Connecticut Light and Power Company (CNLTP) 10-K2008 FY Annual report

Filed: 27 Feb 09, 12:00am

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Removed: abandoning, addressing, administering, affirmatively, alleging, Amendatory, answer, argued, attachment, chart, children, claiming, concluding, confident, conformed, constrain, counterclaim, custodian, disputed, DNCI, downgrade, drew, EDGAR, enforcing, explanatory, heading, HELCO, husband, informed, intact, judge, LIPA, Meriden, MGT, Multiannual, negotiated, Northport, NUEI, OCC, paragraph, permanently, petitioned, Powell, prejudgment, prepared, Principally, propose, proposing, pursuing, refused, resolving, Rodney, season, session, settle, shutting, signatory, socialized, southern, staying, succession, sue, suit, therewith, unqualified, unwilling, wife, withheld, withhold, wrongfully

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Northeast Utilities											Exhibit 12
Ratio of Earnings to Fixed Charges


(Thousands of Dollars)
	For the Years Ended December 31,
		2008		2007		2006		2005				2004
Earnings, as defined:
Net income/(loss) from continuing operations before
cumulative effect of accounting change	$	260,828	$	245,896	$	132,936	$	(256,903)		$		70,423
Income tax expense/(benefit)		105,661		109,420		(76,326)		(184,862)				22,388
Equity in earnings of regional nuclear
generating and transmission companies		(1,637)		(3,983)		(334)		(3,311)				(2,592)
Dividends received from regional equity investees		1,017		4,542		2,145		687				3,879
Fixed charges, as below		304,374		275,611		267,243		265,046				235,699
Less: Interest capitalized (including AFUDC)		(17,797)		(17,568)		(14,482)		(10,463)				(4,517)
Preferred dividend security requirements of
consolidated subsidiaries		(9,265)		(9,265)		(9,265)		(9,265)				(9,265)
Total earnings/(loss), as defined	$	643,181	$	604,653	$	301,917	$	(199,071)		$		316,015

Fixed charges, as defined:
Interest on long-term debt (a)	$	193,883	$	162,841	$	141,579	$	131,870		$		107,365
Interest on rate reduction bonds		50,231		61,580		74,242		87,439				98,899
Other interest (b)		25,031		15,824		22,375		19,276				8,586
Rental interest factor		8,176		8,533		5,300		6,733				7,067
Preferred dividend security requirements of
consolidated subsidiaries		9,265		9,265		9,265		9,265				9,265
Interest capitalized (including AFUDC)		17,797		17,568		14,482		10,463				4,517
Total fixed charges, as defined	$	304,374	$	275,611	$	267,243	$	265,046		$		235,699

Ratio of Earnings to Fixed Charges		2.11		2.19		1.13		(0.75)	(c)			1.34

(a) Interest on long-term debt amounts include amortized premiums, discounts and capitalized expenses related to indebtedness.

(b) For the years ended December 31, 2008 and 2007, other interest includes interest expense related to Financial Accounting Standards Board Interpretation No. 48, "Accounting for Uncertainty in Income Taxes - an Interpretation of FASB Statement No. 109."

(c) Consolidated earnings were inadequate to cover fixed charges by $464.1 million for the year ended December 31, 2005.