Public Service Company of New Hampshire |
|
|
|
|
|
|
|
|
|
|
| Exhibit 12 | |
Ratio of Earnings to Fixed Charges |
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
| Six Months |
|
|
|
|
|
|
|
|
|
| |
(Thousands of Dollars) |
| Ended |
|
|
|
|
|
|
|
|
|
| |
|
| June 30, 2009 |
| For the Years Ended December 31, | |||||||||
|
| (unaudited) |
| 2008 |
| 2007 |
| 2006 |
| 2005 |
| 2004 | |
Earnings, as defined: |
|
|
|
|
|
|
|
|
|
|
|
| |
Net income | $ | 34,065 | $ | 58,067 | $ | 54,434 | $ | 35,323 | $ | 41,739 | $ | 46,641 | |
Income tax expense |
| 14,380 |
| 21,996 |
| 22,794 |
| 39,183 |
| 12,234 |
| 12,993 | |
Equity in (earnings)/losses of regional nuclear |
|
|
|
|
|
|
|
|
|
|
|
| |
generating companies |
| (32) |
| (62) |
| (343) |
| 74 |
| (230) |
| (165) | |
Dividends received from regional equity investees |
| 220 |
| - |
| 521 |
| 367 |
| 172 |
| 614 | |
Fixed charges, as below |
| 25,385 |
| 54,597 |
| 50,637 |
| 50,092 |
| 49,751 |
| 47,211 | |
Less: Interest capitalized (including AFUDC) |
| (1,554) |
| (2,967) |
| (2,985) |
| (2,768) |
| (1,896) |
| (272) | |
Total earnings, as defined | $ | 72,464 | $ | 131,631 | $ | 125,058 | $ | 122,271 | $ | 101,770 | $ | 107,022 | |
|
|
|
|
|
|
|
|
|
|
|
|
| |
Fixed charges, as defined: |
|
|
|
|
|
|
|
|
|
|
|
| |
Interest on long-term debt (a) | $ | 16,370 | $ | 32,655 | $ | 26,029 | $ | 24,100 | $ | 20,481 | $ | 17,441 | |
Interest on rate reduction bonds |
| 7,064 |
| 15,969 |
| 18,013 |
| 20,828 |
| 24,074 |
| 26,901 | |
Other interest (b) |
| (337) |
| 1,539 |
| 2,243 |
| 829 |
| 1,733 |
| 1,197 | |
Rental interest factor |
| 734 |
| 1,467 |
| 1,367 |
| 1,567 |
| 1,567 |
| 1,400 | |
Interest capitalized (including AFUDC) |
| 1,554 |
| 2,967 |
| 2,985 |
| 2,768 |
| 1,896 |
| 272 | |
Total fixed charges, as defined | $ | 25,385 | $ | 54,597 | $ | 50,637 | $ | 50,092 | $ | 49,751 | $ | 47,211 | |
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| |
Ratio of Earnings to Fixed Charges |
| 2.85 |
| 2.41 |
| 2.47 |
| 2.44 |
| 2.05 |
| 2.27 | |
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| |
(a) Interest on long-term debt amounts include amortized premiums, discounts and capitalized expenses related to indebtedness. |
|
|
| ||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
| |
(b) For the six months ended June 30, 2009, other interest includes interest related to Financial Accounting Standards Board Interpretation No. 48, "Accounting for Uncertainty in Income Taxes - an Interpretation of FASB Statement No. 109." | |||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
| |
The Connecticut Light and Power Company (CNLTP)
Filed: 7 Aug 09, 12:00am