NSTAR ELECTRIC CO - FORM 10-Q - EX-12 - EXHIBIT 12 WMECO - August 7, 2012

Attached files

file filename
10-Q - FORM 10-Q - NSTAR ELECTRIC COf2q12edgar.htm
EX-10.1 - EXHIBIT 10.1 - NSTAR ELECTRIC COexh101.htm
EX-31 - EXHIBIT 31 NU - NSTAR ELECTRIC COexh31nu.htm
EX-12 - EXHIBIT 12 NU - NSTAR ELECTRIC COexh12nu.htm
EX-32 - EXHIBIT 32 NU - NSTAR ELECTRIC COexh32nu.htm
EX-12 - EXHIBIT 12 CL&P - NSTAR ELECTRIC COexh12clp.htm
EX-31.1 - EXHIBIT 31.1 NU - NSTAR ELECTRIC COexh311nu.htm
EX-31 - EXHIBIT 31 CL&P - NSTAR ELECTRIC COexh31clp.htm
EX-32 - EXHIBIT 32 PSNH - NSTAR ELECTRIC COexh32psnh.htm
EX-12 - EXHIBIT 12 PSNH - NSTAR ELECTRIC COexh12psnh.htm
EX-31 - EXHIBIT 31 PSNH - NSTAR ELECTRIC COexh31psnh.htm
EX-32 - EXHIBIT 32 WMECO - NSTAR ELECTRIC COexh32wmeco.htm
EX-12 - EXHIBIT 12 NSTAR - NSTAR ELECTRIC COexh12nstar.htm
EX-31 - EXHIBIT 31 NSTAR - NSTAR ELECTRIC COexh31nstar.htm
EX-32 - EXHIBIT 32 CL&P - NSTAR ELECTRIC COexhibit32clp.htm
EX-31.1 - EXHIBIT 31.1 CL&P - NSTAR ELECTRIC COexhibit311clp.htm
EX-31 - EXHIBIT 31 WMECO - NSTAR ELECTRIC COexhibit31wmeco.htm
EX-32 - EXHIBIT 32 NSTAR - NSTAR ELECTRIC COexhibit32nstar.htm
EX-31.1 - EXHIBIT 3.1.1 PSNH - NSTAR ELECTRIC COexhibit311psnh.htm
EX-31.1 - EXHIBIT 31.1 WMECO - NSTAR ELECTRIC COexhibit311wmeco.htm
EX-31.1 - EXHIBIT 31.1 NSTAR - NSTAR ELECTRIC COexhibit311nstar.htm





Western Massachusetts Electric Company

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Exhibit 12

Ratio of Earnings to Fixed Charges

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(Unaudited)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(Thousands of Dollars)

 

Six Months

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ended

 

For the Years Ended December 31,

 

 

June 30, 2012

 

 

2011

 

 

2010

 

 

2009

 

 

2008

 

 

2007 

Earnings, as defined:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

   Net income

$

 25,324 

 

$

 43,054 

 

$

 23,090 

 

$

 26,196 

 

$

 18,330 

 

$

 23,604 

   Income tax expense

 

 16,408 

 

 

 23,186 

 

 

 16,325 

 

 

 14,923 

 

 

 10,545 

 

 

 14,586 

   Equity in earnings of regional nuclear

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

     generating companies

 

 (5)

 

 

 (4)

 

 

 (36)

 

 

 (78)

 

 

 (101)

 

 

 (526)

   Dividends received from regional equity investees

 

 - 

 

 

 - 

 

 

 120 

 

 

 419 

 

 

 - 

 

 

 701 

   Fixed charges, as below

 

 14,008 

 

 

 25,079 

 

 

 23,042 

 

 

 20,614 

 

 

 21,910 

 

 

 22,162 

   Less: Interest capitalized (including AFUDC)

 

 (277)

 

 

 (534)

 

 

 (336)

 

 

 (195)

 

 

 (1,010)

 

 

 (983)

Total earnings, as defined

$

 55,458 

 

$

 90,781 

 

$

 62,205 

 

$

 61,879 

 

$

 49,674 

 

$

 59,544 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed charges, as defined:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

   Interest on long-term debt (a)

$

 11,671 

 

$

 20,023 

 

$

 17,988 

 

$

 14,074 

 

$

 13,244 

 

$

 11,577 

   Interest on rate reduction bonds

 

 757 

 

 

 2,335 

 

 

 3,372 

 

 

 4,335 

 

 

 5,133 

 

 

 5,839 

   Other interest (b)

 

 836 

 

 

 1,254 

 

 

 479 

 

 

 877 

 

 

 1,256 

 

 

 2,430 

   Rental interest factor

 

 467 

 

 

 933 

 

 

 867 

 

 

 1,133 

 

 

 1,267 

 

 

 1,333 

   Interest capitalized (including AFUDC)

 

 277 

 

 

 534 

 

 

 336 

 

 

 195 

 

 

 1,010 

 

 

 983 

Total fixed charges, as defined

$

 14,008 

 

$

 25,079 

 

$

 23,042 

 

$

 20,614 

 

$

 21,910 

 

$

 22,162 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ratio of Earnings to Fixed Charges

 

 3.96 

 

 

 3.62 

 

 

 2.70 

 

 

 3.00 

 

 

 2.27 

 

 

 2.69 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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











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