Eversource Energy (ES) 10-Q2010 Q1 Quarterly report

Filed: 7 May 10, 12:00am

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Removed: accrued, acquire, actively, addressing, adjust, advanced, analyzing, ancillary, apportionment, arranged, ascertain, assessed, began, bid, billing, borrower, broken, Canadian, carbon, CfD, cleared, closing, commencing, compare, conducting, confirming, consulting, consummation, contractor, contrast, Council, coupled, creditworthy, CYAPC, daily, declining, decreasing, deriving, description, diagnostic, directed, disaggregate, disclose, discounting, divided, downturn, dropped, enact, enacted, equipment, ERISA, ERM, essentially, estimable, experienced, expire, explain, explanatory, extension, fact, FASB, favor, Federally, front, function, generated, hand, hold, Holyoke, hydroelectric, ice, identifying, Illuminating, implementing, impose, inclusion, increasing, indirect, initial, IPP, IRS, kilovolt, larger, leverage, LIBOR, license, limit, liquidate, list, LOC, maintained, mandated, marked, metering, middle, Mode, monitored, nation, nonfinancial, nonrecurring, North, NYMEX, NYMPA, obligated, offer, offering, open, orderly, overrecovery, oversee, owed, paragraph, peak, petition, point, pollution, Poor, positively, posting, precursor, premium, preparing, prescribed, properly, Protection, prudency, prudent, ratio, realization, Realty, recognition, redemption, reduce, referencing, regularly, reissuance, reliable, remarketing, remediated, repayment, representative, requirement, requiring, retained, retired, retrospective, retrospectively, Rhode, Rocky, ruling, run, scheduling, segmented, segregated, segregating, September, sharing, significance, similarly, sinking, size, statute, structured, substation, substitute, target, tested, tie, transacting, transferred, treatment, ultimately, unable, unlimited, utilize, vested, volumetric, Water, weak, wholly, wound, York

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The Connecticut Light and Power Company												Exhibit 12
Ratio of Earnings to Fixed Charges

		Three Months
(Thousands of Dollars)		Ended
		March 31, 2010	For the Years Ended December 31,
		(unaudited)		2009		2008		2007		2006		2005
Earnings, as defined:
Net income	$	48,412	$	216,316	$	191,158	$	133,564	$	200,007	$	94,845
Income tax expense/(benefit)		43,493		118,847		77,852		52,353		(43,961)		32,174
Equity in (earnings)/losses of regional nuclear
generating companies		(35)		(282)		(366)		(1,901)		854		(1,153)
Dividends received from regional equity investees		-		1,520		-		2,596		1,407		412
Fixed charges, as below		40,690		163,887		165,170		155,557		131,923		133,321
Less: Interest capitalized (including AFUDC)		(696)		(2,203)		(12,991)		(10,924)		(6,610)		(6,719)
Total earnings, as defined	$	131,864	$	498,085	$	420,823	$	331,245	$	283,620	$	252,880

Fixed charges, as defined:
Interest on long-term debt (a)	$	33,632	$	133,422	$	104,954	$	84,292	$	64,873	$	59,019
Interest on rate reduction bonds		3,032		19,061		29,129		37,728		46,692		55,796
Other interest (b)		1,863		3,334		12,163		16,413		6,281		5,220
Rental interest factor		1,467		5,867		5,933		6,200		7,467		6,567
Interest capitalized (including AFUDC)		696		2,203		12,991		10,924		6,610		6,719
Total fixed charges, as defined	$	40,690	$	163,887	$	165,170	$	155,557	$	131,923	$	133,321


Ratio of Earnings to Fixed Charges		3.24		3.04		2.55		2.13		2.15		1.90


(a) Interest on long-term debt amounts include amortized premiums, discounts and capitalized expenses related to indebtedness.

(b) For the three months ended March 31, 2010 and for the years ended December 31, 2009, 2008 and 2007, other interest includes interest related to accounting for uncertain tax positions.