CONNECTICUT LIGHT & POWER CO - FORM 10-Q - EX-12 - EXH 12 NU - November 6, 2009

Attached files

file filename
10-Q - FORM 10-Q - CONNECTICUT LIGHT & POWER COseptember2009form10qedgar.htm
EX-15 - EXH 15 - CONNECTICUT LIGHT & POWER COexhibit15.htm
EX-32 - NU EXH 32 - CONNECTICUT LIGHT & POWER COnuexhibit32.htm
EX-32 - CLP EXH 32 - CONNECTICUT LIGHT & POWER COclpexhibit32.htm
EX-32 - PSNH EXH 32 - CONNECTICUT LIGHT & POWER COpsnhexhibit32.htm
EX-12 - PSNH EXH 12 - CONNECTICUT LIGHT & POWER COexhibit12psnh.htm
EX-32 - WMECO EXH 32 - CONNECTICUT LIGHT & POWER COwmecoexhibit32.htm
EX-12 - WMECO EXH 12 - CONNECTICUT LIGHT & POWER COexhibit12wmeco.htm
EX-31 - NU EXH 31 - CONNECTICUT LIGHT & POWER COnuexhibit31shivery.htm
EX-31.1 - NU EXH 31.1 - CONNECTICUT LIGHT & POWER COnuexhibit311mchale.htm
EX-31 - CLP EXH 31 - CONNECTICUT LIGHT & POWER COclpexhibit31olivier.htm
EX-31.1 - CLP EXH 31.1 - CONNECTICUT LIGHT & POWER COclpexhibit311mchale.htm
EX-31.1 - PSNH EXH 31.1 - CONNECTICUT LIGHT & POWER COpsnhexhibit311mchale.htm
EX-31 - PSNH EXH 31 - CONNECTICUT LIGHT & POWER COpsnhexhibit31olivier.htm
EX-31 - WMECO EXH 31 - CONNECTICUT LIGHT & POWER COwmecoexhibit31olivier.htm
EX-31.1 - WMECO EXH 31.1 - CONNECTICUT LIGHT & POWER COwmecoexhibit311mchale.htm
EX-12 - CLP EXH 12 - CONNECTICUT LIGHT & POWER COexhibit12clp.htm




Northeast Utilities

 

 

 

 

 

 

 

 

 

 

 

Exhibit 12

Ratio of Earnings to Fixed Charges

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Nine Months

 

 

 

 

 

 

 

 

 

 

(Thousands of Dollars)

 

Ended

 

 

 

 

 

 

 

 

 

 

 

 

September 30, 2009

 

For the Years Ended December 31,

 

 

(unaudited)

 

2008

 

2007

 

2006

 

2005

 

2004

Earnings, as defined:

 

 

 

 

 

 

 

 

 

 

 

 

   Net income/(loss) from continuing operations

 

 

 

 

 

 

 

 

 

 

 

 

    before cumulative effect of accounting change

$

249,485 

$

266,387 

$

251,455 

$

138,495 

$

(251,344)

$

75,982 

   Income tax expense/(benefit)

 

130,047 

 

105,661 

 

109,420 

 

(76,326)

 

(184,862)

 

22,388 

   Equity in earnings of regional nuclear

 

 

 

 

 

 

 

 

 

 

 

 

     generating and transmission companies

 

(1,383)

 

(1,637)

 

(3,983)

 

(334)

 

(3,311)

 

(2,592)

   Dividends received from regional equity

 

 

 

 

 

 

 

 

 

 

 

 

     investees

 

3,384 

 

1,017 

 

4,542 

 

2,145 

 

687 

 

3,879 

   Fixed charges, as below

 

223,352 

 

304,374 

 

275,611 

 

267,243 

 

265,046 

 

235,699 

   Less: Interest capitalized (including AFUDC)

 

(4,708)

 

(17,797)

 

(17,568)

 

(14,482)

 

(10,463)

 

(4,517)

   Preferred dividend security requirements of

 

 

 

 

 

 

 

 

 

 

 

 

     consolidated subsidiaries

 

(6,949)

 

(9,265)

 

(9,265)

 

(9,265)

 

(9,265)

 

(9,265)

Total earnings/(loss), as defined

$

593,228 

$

648,740 

$

610,212 

$

307,476 

$

(193,512)

$

321,574 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed charges, as defined:

 

 

 

 

 

 

 

 

 

 

 

 

   Interest on long-term debt (a)

$

168,191 

$

193,883 

$

162,841 

$

141,579 

$

131,870 

$

107,365 

   Interest on rate reduction bonds

 

28,889 

 

50,231 

 

61,580 

 

74,242 

 

87,439 

 

98,899 

   Other interest (b)

 

8,490 

 

25,031 

 

15,824 

 

22,375 

 

19,276 

 

8,586 

   Rental interest factor

 

6,125 

 

8,167 

 

8,533 

 

5,300 

 

6,733 

 

7,067 

   Preferred dividend security requirements of

 

 

 

 

 

 

 

 

 

 

 

 

     consolidated subsidiaries

 

6,949 

 

9,265 

 

9,265 

 

9,265 

 

9,265 

 

9,265 

   Interest capitalized (including AFUDC)

 

4,708 

 

17,797 

 

17,568 

 

14,482 

 

10,463 

 

4,517 

Total fixed charges, as defined

$

223,352 

$

304,374 

$

275,611 

$

267,243 

$

265,046 

 $

235,699 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ratio of Earnings to Fixed Charges

 

2.66 

 

2.13 

 

2.21 

 

1.15 

 

(0.73)

(c)

1.36 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(a)

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

 

 

 

 

 

 

 

 

 

 

 

 

 

(b)

For the nine months ended September 30, 2009 and for the years ended December 31, 2008 and 2007, other interest includes interest related to accounting for uncertain tax positions.

 

 

 

 

 

 

 

 

 

 

 

 

 

(c)

Consolidated earnings were inadequate to cover fixed charges by $458.6 million for the year ended December 31, 2005.