Centerpoint Energy Houston Electric 10-Q2008 Q3 Quarterly report

Filed: 10 Nov 08, 12:00am

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Legalese
Litigious
Readability	H.S. sophomore Avg

New words: accompanying, add, Alternatively, arrangement, bankruptcy, Bay, billed, blown, broader, capable, Category, coastal, common, comprise, concentrated, Council, coverage, damage, damaged, delay, destruction, economic, enabling, enacted, event, fail, failure, flexibility, flooding, fourth, franchise, freeze, frozen, FSB, Galveston, history, honoring, hurricane, Ike, indeterminate, Insufficient, interruption, Island, joint, lead, left, Lehman, lender, line, lose, lost, maximum, Mexico, mounted, moved, outage, owed, ownership, passage, pension, permanent, pole, postponed, preliminary, protection, prudently, registered, Reliability, repaid, resort, restricted, Rita, Saturday, SEC, serve, served, serving, share, shift, shifted, situation, size, small, stopped, storm, street, strong, struck, structural, surge, system, traditional, turmoil, unable, unpredictable, update, upper, wholesale, widespread, wind

Removed: alleged, artificially, behalf, breached, civil, committee, fiduciary, fraud, imprudent, individual, inflated, injunctive, judge, lawsuit, monetary, permitting, prejudice, punitive, putative, restitution, sponsored, suit, summary

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Exhibit 12

CENTERPOINT ENERGY HOUSTON ELECTRIC, LLC AND SUBSIDIARIES

(AN INDIRECT WHOLLY OWNED SUBSIDIARY OF CENTERPOINT ENERGY, INC.)

COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES

(Millions of Dollars)

	Nine Months Ended September 30,
	2007			2008

Net Income	$	223		$	196
Income taxes		111			113
Capitalized interest		(8	)		(5	)
		326			304

Fixed charges, as defined:

Interest		174			182
Capitalized interest		8			5
Interest component of rentals charged to operating expense		1			1
Total fixed charges		183			188

Earnings, as defined	$	509		$	492

Ratio of earnings to fixed charges		2.78			2.61

________

(1)

Excluded from the computation of fixed charges for the nine months ended September 30, 2007 and 2008 is interest expense of $3 million and $7 million, respectively, which is included in income tax expense. The ratio of earnings to fixed charges would be 2.74 and 2.53, respectively, for the nine months ended September 30, 2007 and 2008, if the interest expense included in income tax expense were included in the computation of fixed charges.