CONNECTICUT LIGHT & POWER CO - FORM 10-Q - EX-12 - WMECO EXH 12 - 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-12 - EXH 12 NU - CONNECTICUT LIGHT & POWER COexhibit12nu.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-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


Western Massachusetts Electric Company

 

 

 

 

 

 

 

 

 

 

 

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

$

20,462 

$

18,330 

$

23,604 

$

15,644 

$

15,085 

$

12,373 

   Income tax expense

 

11,764 

 

10,545 

 

14,586 

 

7,766 

 

9,294 

 

7,187 

   Equity in (earnings)/losses of regional nuclear

 

 

 

 

 

 

 

 

 

 

 

 

     generating companies

 

(64)

 

(101)

 

(526)

 

241 

 

(311)

 

(149)

   Dividends received from regional equity investees

 

419 

 

- 

 

701 

 

372 

 

103 

 

687 

   Fixed charges, as below

 

15,622 

 

21,910 

 

22,162 

 

21,087 

 

19,801 

 

17,156 

   Less: Interest capitalized (including AFUDC)

 

(172)

 

(1,010)

 

(983)

 

(853)

 

(455)

 

(220)

Total earnings, as defined

$

48,031 

$

49,674 

$

59,544 

$

44,257 

$

43,517 

$

37,034 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed charges, as defined:

 

 

 

 

 

 

 

 

 

 

 

 

   Interest on long-term debt (a)

$

10,531 

$

13,244 

$

11,577 

$

10,671 

$

9,535 

$

6,655 

   Interest on rate reduction bonds

 

3,337 

 

5,133 

 

5,839 

 

6,723 

 

7,570 

 

8,332 

   Other interest (b)

 

632 

 

1,256 

 

2,430 

 

1,507 

 

1,041 

 

782 

   Rental interest factor

 

950 

 

1,267 

 

1,333 

 

1,333 

 

1,200 

 

1,167 

   Interest capitalized (including AFUDC)

 

172 

 

1,010 

 

983 

 

853 

 

455 

 

220 

Total fixed charges, as defined

$

15,622 

$

21,910 

$

22,162 

$

21,087 

$

19,801 

$

17,156 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ratio of Earnings to Fixed Charges

 

3.07 

 

2.27 

 

2.69 

 

2.10 

 

2.20 

 

2.16 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(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 year ended December 31, 2008, other interest includes interest related to accounting for uncertain tax positions.