The Connecticut Light and Power Company |
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| Exhibit 12 | |
Ratio of Earnings to Fixed Charges |
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(Unaudited) |
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| Three Months |
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| Ended |
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| March 31, |
| For the Years Ended December 31, | ||||||||||||||
(Thousands of Dollars) | 2015 |
| 2014 |
| 2013 |
| 2012 |
| 2011 |
| 2010 | |||||||
Earnings, as defined: |
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| Net income | $ | 69,234 |
| $ | 287,754 |
| $ | 279,412 |
| $ | 209,725 |
| $ | 250,164 |
| $ | 244,143 |
| Income tax expense |
| 38,147 |
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| 133,451 |
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| 141,663 |
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| 94,437 |
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| 90,033 |
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| 132,438 |
| Equity in earnings of regional nuclear generating companies |
| (6) |
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| (32) |
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| (67) |
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| (40) |
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| (16) |
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| (134) |
| Dividends received from regional equity investees |
| - |
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| - |
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| 289 |
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| - |
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| - |
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| 440 |
| Fixed charges, as below |
| 37,881 |
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| 152,513 |
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| 139,929 |
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| 139,982 |
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| 140,311 |
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| 145,297 |
| Less: Interest capitalized (including AFUDC) |
| (451) |
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| (1,867) |
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| (2,249) |
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| (2,456) |
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| (3,317) |
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| (2,726) |
Total earnings, as defined | $ | 144,805 |
| $ | 571,819 |
| $ | 558,977 |
| $ | 441,648 |
| $ | 477,175 |
| $ | 519,458 | |
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Fixed charges, as defined: |
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| Interest on long-term debt (a) | $ | 33,482 |
| $ | 135,656 |
| $ | 130,620 |
| $ | 124,894 |
| $ | 131,918 |
| $ | 134,553 |
| Interest on rate reduction bonds |
| - |
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| - |
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| - |
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| - |
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| 7,542 |
| Other interest (b) |
| 3,142 |
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| 11,765 |
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| 3,030 |
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| 8,233 |
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| 809 |
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| (4,357) |
| Rental interest factor |
| 806 |
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| 3,225 |
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| 4,030 |
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| 4,399 |
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| 4,267 |
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| 4,833 |
| Interest capitalized (including AFUDC) |
| 451 |
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| 1,867 |
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| 2,249 |
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| 2,456 |
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| 3,317 |
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| 2,726 |
Total fixed charges, as defined | $ | 37,881 |
| $ | 152,513 |
| $ | 139,929 |
| $ | 139,982 |
| $ | 140,311 |
| $ | 145,297 | |
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Ratio of Earnings to Fixed Charges |
| 3.82 |
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| 3.75 |
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| 3.99 |
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| 3.16 |
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| 3.40 |
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| 3.58 | |
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(a) Interest on long-term debt includes amortized premiums, discounts and capitalized expenses related to indebtedness. | ||||||||||||||||||
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(b) For the years ended December 31, 2013, 2012, 2011 and 2010, other interest includes interest related to accounting for uncertain tax positions. | ||||||||||||||||||
Eversource Energy (ES)
Filed: 6 May 15, 12:00am