Exhibit 12
THE CONNECTICUT LIGHT & POWER COMPANY & SUBSIDIARIES Exhibit 12
RATIO OF EARNINGS TO FIXED CHARGES
(THOUSANDS OF DOLLARS)
Twelve
Months
Ended
Year Ended December 31, 3/31/97
1992 1993 1994 1995 1996 (unaudited)
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Earnings:
Net Income(Loss) 206,714 143,702 (a) 198,288 205,216 (80,237) (119,520)
Current Income Taxes 88,926 159,876 148,337 131,804 40,439 (17,389)
Deferred Income Taxes 66,391 (20,188) 37,664 49,520 (60,773) (31,028)
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Earnings before Income Taxes 362,031 283,390 384,289 386,540 (100,571) (167,937)
Less: Undistributed Income from less
than Fifty Percent Owned Companies 95 234 1,042 (328) 2,301 3,526
Add: Fixed Charges 184,407 165,213 144,212 146,330 147,356 150,644
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Earnings Available for Fixed Charges 546,343 448,369 527,459 533,198 44,484 (20,819)
Fixed Charges:
Interest on Long Term Debt 145,066 126,850 111,094 117,060 120,819 124,363
Amortization of Debt Discount and
Expense, Less Premium 6,248 7,412 8,834 7,290 6,379 6,320
Interest on Short Term Debt 3,679 6,111 6,543 2,009 545 623
Other Interest 5,659 5,423 (551) 1,453 2,125 2,049
Portion of Rents Representative of
the Interest Factor 23,755 19,417 18,292 18,518 17,488 17,289
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Total Fixed Charges 184,407 165,213 144,212 146,330 147,356 150,644
Ratio of Earnings to Fixed Charges 2.96 2.71 3.65 3.64 0.30 -0.13
(a) Excludes the cummulative effect of an accounting change of $47.747 million.