Attached files
Public Service Company of New Hampshire and Subsidiary |
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| Exhibit 12 | |||
Ratio of Earnings to Fixed Charges |
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(Unaudited) |
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| Six Months |
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| Ended |
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| June 30, |
| For the Years Ended December 31, | ||||||||||||||
(Thousands of Dollars) | 2016 |
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| 2015 |
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| 2014 |
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| 2013 |
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| 2012 |
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| 2011 | ||
Earnings, as defined: |
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| Net income | $ | 67,313 |
| $ | 114,442 |
| $ | 113,944 |
| $ | 111,397 |
| $ | 96,882 |
| $ | 100,267 |
| Income tax expense |
| 41,899 |
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| 73,060 |
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| 72,135 |
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| 71,101 |
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| 60,993 |
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| 49,945 |
| Equity in earnings of equity investees |
| (4) |
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| (8) |
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| (8) |
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| (12) |
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| (8) |
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| (7) |
| Dividends received from equity investees |
| - |
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| - |
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| - |
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| 42 |
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| - |
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| - |
| Fixed charges, as below |
| 25,915 |
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| 47,949 |
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| 46,530 |
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| 47,318 |
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| 52,769 |
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| 52,111 |
| Less: Interest capitalized (including AFUDC) |
| (445) |
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| (994) |
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| (640) |
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| (500) |
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| (1,579) |
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| (7,064) |
Total earnings, as defined | $ | 134,678 |
| $ | 234,449 |
| $ | 231,961 |
| $ | 229,346 |
| $ | 209,057 |
| $ | 195,252 | |
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Fixed charges, as defined: |
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| Interest Expense | $ | 24,987 |
| $ | 45,990 |
| $ | 45,349 |
| $ | 46,176 |
| $ | 50,228 |
| $ | 44,147 |
| Rental interest factor |
| 483 |
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| 965 |
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| 541 |
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| 642 |
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| 962 |
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| 900 |
| Interest capitalized (including AFUDC) |
| 445 |
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| 994 |
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| 640 |
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| 500 |
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| 1,579 |
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| 7,064 |
Total fixed charges, as defined | $ | 25,915 |
| $ | 47,949 |
| $ | 46,530 |
| $ | 47,318 |
| $ | 52,769 |
| $ | 52,111 | |
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Ratio of Earnings to Fixed Charges |
| 5.20 |
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| 4.89 |
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| 4.99 |
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| 4.85 |
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| 3.96 |
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| 3.75 | |
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