Eversource Energy and Subsidiaries |
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| Exhibit 12 | |
Ratio of Earnings to Fixed Charges |
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(Unaudited) |
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| Six Months |
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| Ended |
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| June 30, |
| For the Years Ended December 31, | |||||||||||||||
(Thousands of Dollars) | 2016 |
| 2015 |
| 2014 |
| 2013 |
| 2012 (a) |
| 2011 | |||||||
Earnings, as defined: |
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| Net income | $ | 451,562 |
| $ | 886,004 |
| $ | 827,065 |
| $ | 793,689 |
| $ | 533,077 |
| $ | 400,513 |
| Income tax expense |
| 271,742 |
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| 539,967 |
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| 468,297 |
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| 426,941 |
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| 274,926 |
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| 170,953 |
| Equity in (earnings)/loss of equity investees |
| 213 |
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| (883) |
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| (1,044) |
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| (1,318) |
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| (1,154) |
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| (671) |
| Dividends received from equity investees |
| - |
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| - |
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| - |
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| 582 |
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| 733 |
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| 940 |
| Fixed charges, as below |
| 212,102 |
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| 397,392 |
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| 386,451 |
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| 362,403 |
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| 353,616 |
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| 275,948 |
| Less: Interest capitalized (including AFUDC) |
| (4,524) |
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| (7,221) |
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| (5,766) |
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| (4,062) |
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| (5,261) |
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| (11,758) |
| Preferred dividend security requirements of consolidated subsidiaries (pre-tax) |
| (6,265) |
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| (12,532) |
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| (12,532) |
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| (12,803) |
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| (11,715) |
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| (9,265) |
Total earnings, as defined | $ | 924,830 |
| $ | 1,802,727 |
| $ | 1,662,471 |
| $ | 1,565,432 |
| $ | 1,144,222 |
| $ | 826,660 | |
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Fixed charges, as defined: |
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| Interest Expense | $ | 198,703 |
| $ | 372,420 |
| $ | 362,106 |
| $ | 338,699 |
| $ | 329,945 |
| $ | 250,425 |
| Rental interest factor |
| 2,610 |
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| 5,219 |
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| 6,047 |
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| 6,839 |
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| 6,695 |
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| 4,500 |
| Preferred dividend security requirements of consolidated subsidiaries (pre-tax) |
| 6,265 |
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| 12,532 |
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| 12,532 |
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| 12,803 |
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| 11,715 |
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| 9,265 |
| Interest capitalized (including AFUDC) |
| 4,524 |
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| 7,221 |
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| 5,766 |
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| 4,062 |
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| 5,261 |
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| 11,758 |
Total fixed charges, as defined | $ | 212,102 |
| $ | 397,392 |
| $ | 386,451 |
| $ | 362,403 |
| $ | 353,616 |
| $ | 275,948 | |
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Ratio of Earnings to Fixed Charges |
| 4.36 |
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| 4.54 |
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| 4.30 |
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| 4.32 |
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| 3.24 |
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| 3.00 | |
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(a) NSTAR amounts were included in Eversource beginning April 10, 2012. |
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10-Q Filing
The Connecticut Light and Power Company (CNTHO) 10-Q2016 Q2 Quarterly report
Filed: 5 Aug 16, 12:00am