Public Service Co Of New Hampshire 10-Q 2018 Q3 Quarterly report

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