Eversource Energy and Subsidiaries | Exhibit 12 | ||||||||||||||||||||||
Ratio of Earnings to Fixed Charges | |||||||||||||||||||||||
(Unaudited) | |||||||||||||||||||||||
Nine Months Ended September 30, 2018 | |||||||||||||||||||||||
For the Years Ended December 31, | |||||||||||||||||||||||
(Thousands of Dollars) | 2017 | 2016 | 2015 | 2014 | 2013 | ||||||||||||||||||
Earnings, as defined: | |||||||||||||||||||||||
Net income | $ | 807,332 | $ | 995,515 | $ | 949,821 | $ | 886,004 | $ | 827,065 | $ | 793,689 | |||||||||||
Income tax expense | 220,497 | 578,892 | 554,997 | 539,967 | 468,297 | 426,941 | |||||||||||||||||
Equity in earnings of equity investees | 428 | (27,432 | ) | (243 | ) | (883 | ) | (1,044 | ) | (1,318 | ) | ||||||||||||
Dividends received from equity investees | 16,351 | 20,042 | 120 | — | — | 582 | |||||||||||||||||
Fixed charges, as below | 398,344 | 451,287 | 429,406 | 397,392 | 386,451 | 362,403 | |||||||||||||||||
Less: Interest capitalized (including AFUDC) | (14,144 | ) | (12,453 | ) | (10,791 | ) | (7,221 | ) | (5,766 | ) | (4,062 | ) | |||||||||||
Preferred dividend security requirements of consolidated subsidiaries (pre-tax) | (8,056 | ) | (12,532 | ) | (12,532 | ) | (12,532 | ) | (12,532 | ) | (12,803 | ) | |||||||||||
Total earnings, as defined | $ | 1,420,752 | $ | 1,993,319 | $ | 1,910,778 | $ | 1,802,727 | $ | 1,662,471 | $ | 1,565,432 | |||||||||||
Fixed charges, as defined: | |||||||||||||||||||||||
Interest expense | $ | 372,734 | $ | 421,755 | $ | 400,961 | $ | 372,420 | $ | 362,106 | $ | 338,699 | |||||||||||
Rental interest factor | 3,410 | 4,547 | 5,122 | 5,219 | 6,047 | 6,839 | |||||||||||||||||
Preferred dividend security requirements of consolidated subsidiaries (pre-tax) | 8,056 | 12,532 | 12,532 | 12,532 | 12,532 | 12,803 | |||||||||||||||||
Interest capitalized (including AFUDC) | 14,144 | 12,453 | 10,791 | 7,221 | 5,766 | 4,062 | |||||||||||||||||
Total fixed charges, as defined | $ | 398,344 | $ | 451,287 | $ | 429,406 | $ | 397,392 | $ | 386,451 | $ | 362,403 | |||||||||||
Ratio of Earnings to Fixed Charges | 3.57 | 4.42 | 4.45 | 4.54 | 4.30 | 4.32 | |||||||||||||||||
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10-Q Filing
The Connecticut Light and Power Company (CNLHO) 10-Q2018 Q3 Quarterly report
Filed: 6 Nov 18, 12:01pm