NSTAR Electric Company and Subsidiary |
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| Exhibit 12 |
Ratio of Earnings to Fixed Charges |
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(Unaudited) |
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(Thousands of Dollars) |
| Six Months |
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| Ended |
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| June 30, | For the Years Ended December 31, | |||||||||
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| 2013 |
| 2012 |
| 2011 |
| 2010 |
| 2009 |
| 2008 |
Earnings, as defined: |
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Net income | $ | 106,153 | $ | 190,242 | $ | 252,494 | $ | 248,575 | $ | 240,691 | $ | 223,897 |
Income tax expense |
| 68,941 |
| 123,966 |
| 165,686 |
| 162,020 |
| 151,224 |
| 141,847 |
Equity in earnings of regional nuclear |
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generating and transmission companies |
| (262) |
| (412) |
| (501) |
| (836) |
| (891) |
| (820) |
Dividends received from regional equity investees |
| 296 |
| 286 |
| 676 |
| 669 |
| 1,661 |
| 416 |
Fixed charges, as below |
| 34,376 |
| 72,364 |
| 76,219 |
| 77,902 |
| 84,826 |
| 103,661 |
Less: Interest capitalized (including AFUDC) |
| (237) |
| (259) |
| (185) |
| (108) |
| 76 |
| (1,926) |
Total earnings, as defined | $ | 209,267 | $ | 386,187 | $ | 494,389 | $ | 488,222 | $ | 477,587 | $ | 467,075 |
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Fixed charges, as defined: |
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Interest on long-term debt (a) | $ | 39,401 | $ | 87,100 | $ | 90,040 | $ | 90,630 | $ | 83,261 | $ | 76,793 |
Interest on rate reduction bonds |
| 399 |
| 3,585 |
| 7,226 |
| 11,235 |
| 18,833 |
| 27,076 |
Other interest (b) |
| (6,687) |
| (20,631) |
| (27,839) |
| (30,475) |
| (24,519) |
| (9,789) |
Rental interest factor |
| 1,026 |
| 2,051 |
| 6,607 |
| 6,404 |
| 7,327 |
| 7,655 |
Interest capitalized (including AFUDC) |
| 237 |
| 259 |
| 185 |
| 108 |
| (76) |
| 1,926 |
Total fixed charges, as defined | $ | 34,376 | $ | 72,364 | $ | 76,219 | $ | 77,902 | $ | 84,826 | $ | 103,661 |
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Ratio of Earnings to Fixed Charges |
| 6.09 |
| 5.34 |
| 6.49 |
| 6.27 |
| 5.63 |
| 4.51 |
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(a) Interest on long-term debt includes amortized premiums, discounts and capitalized expenses related to indebtedness. | ||||||||||||
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(b) For the years ended December 31, 2011, 2010, 2009 and 2008, other interest includes interest related to accounting for uncertain tax positions. | ||||||||||||
The Connecticut Light and Power Company (CNLTP)
Filed: 2 Aug 13, 12:00am