The Connecticut Light and Power Company |
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| Exhibit 12 | ||||||||||||
Ratio of Earnings to Fixed Charges |
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(Unaudited) |
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(Thousands of Dollars) |
| Three Months |
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| Ended | For the Years Ended December 31, | ||||||||||||||||||||
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| March 31, 2011 |
| 2010 |
| 2009 |
| 2008 |
| 2007 |
| 2006 | |||||||||||
Earnings, as defined: |
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Net income | $ | 64,337 | $ | 244,143 | $ | 216,316 | $ | 191,158 | $ | 133,564 | $ | 200,007 | |||||||||||
Income tax expense/(benefit) |
| 36,499 |
| 132,438 |
| 118,847 |
| 77,852 |
| 52,353 |
| (43,961) | |||||||||||
Equity in (earnings)/losses of regional |
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nuclear generating companies |
| (23) |
| (134) |
| (282) |
| (366) |
| (1,901) |
| 854 | |||||||||||
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Dividends received from regional |
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equity Investees | - |
| 440 |
| 1,520 |
| - |
| 2,596 |
| 1,407 | ||||||||||||
Fixed charges, as below |
| 31,758 |
| 145,297 |
| 163,887 |
| 165,170 |
| 155,557 |
| 131,923 | |||||||||||
Less: Interest capitalized (including |
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AFUDC) |
| (797) |
| (2,726) |
| (2,203) |
| (12,991) |
| (10,924) |
| (6,610) | |||||||||||
Total earnings, as defined | $ | 131,774 | $ | 519,458 | $ | 498,085 | $ | 420,823 | $ | 331,245 | $ | 283,620 | |||||||||||
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Fixed charges, as defined: |
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Interest on long-term debt (a) | $ | 33,328 | $ | 134,553 | $ | 133,422 | $ | 104,954 | $ | 84,292 | $ | 64,873 | |||||||||||
Interest on rate reduction bonds |
| - |
| 7,542 |
| 19,061 |
| 29,129 |
| 37,728 |
| 46,692 | |||||||||||
Other interest (b) |
| (3,575) |
| (4,357) |
| 3,334 |
| 12,163 |
| 16,413 |
| 6,281 | |||||||||||
Rental interest factor |
| 1,208 |
| 4,833 |
| 5,867 |
| 5,933 |
| 6,200 |
| 7,467 | |||||||||||
Interest capitalized (including AFUDC) |
| 797 |
| 2,726 |
| 2,203 |
| 12,991 |
| 10,924 |
| 6,610 | |||||||||||
Total fixed charges, as defined | $ | 31,758 | $ | 145,297 | $ | 163,887 | $ | 165,170 | $ | 155,557 | $ | 131,923 | |||||||||||
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Ratio of Earnings to Fixed Charges |
| 4.15 |
| 3.58 |
| 3.04 |
| 2.55 |
| 2.13 |
| 2.15 | |||||||||||
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(a) Interest on long-term debt amounts include premiums, discounts and capitalized expenses related to indebtedness. |
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(b) For the three months ended March 31, 2011 and for the years ended December 31, 2010, 2009, 2008 and 2007, other interest includes interest related to accounting for uncertain positions. |
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The Connecticut Light and Power Company (CNLTN)
Filed: 6 May 11, 12:00am