Attached files
The Connecticut Light and Power Company | Exhibit 12 | |||||||||||||||||||||||
Ratio of Earnings to Fixed Charges | ||||||||||||||||||||||||
(Unaudited) | ||||||||||||||||||||||||
Nine Months Ended September 30, 2016 | ||||||||||||||||||||||||
For the Years Ended December 31, | ||||||||||||||||||||||||
(Thousands of Dollars) | 2015 | 2014 | 2013 | 2012 | 2011 | |||||||||||||||||||
Earnings, as defined: | ||||||||||||||||||||||||
Net income | $ | 256,553 | $ | 299,360 | $ | 287,754 | $ | 279,412 | $ | 209,725 | $ | 250,164 | ||||||||||||
Income tax expense | 155,453 | 177,396 | 133,451 | 141,663 | 94,437 | 90,033 | ||||||||||||||||||
Equity in earnings of equity investees | (27 | ) | (31 | ) | (32 | ) | (67 | ) | (40 | ) | (16 | ) | ||||||||||||
Dividends received from equity investees | 60 | — | — | 289 | — | — | ||||||||||||||||||
Fixed charges, as below | 114,872 | 153,751 | 152,513 | 139,929 | 139,982 | 140,311 | ||||||||||||||||||
Less: Interest capitalized (including AFUDC) | (2,316 | ) | (2,630 | ) | (1,867 | ) | (2,249 | ) | (2,456 | ) | (3,317 | ) | ||||||||||||
Total earnings, as defined | $ | 524,595 | $ | 627,846 | $ | 571,819 | $ | 558,977 | $ | 441,648 | $ | 477,175 | ||||||||||||
Fixed charges, as defined: | ||||||||||||||||||||||||
Interest Expense | $ | 108,561 | $ | 145,795 | $ | 147,421 | $ | 133,650 | $ | 133,127 | $ | 132,727 | ||||||||||||
Rental interest factor | 3,995 | 5,326 | 3,225 | 4,030 | 4,399 | 4,267 | ||||||||||||||||||
Interest capitalized (including AFUDC) | 2,316 | 2,630 | 1,867 | 2,249 | 2,456 | 3,317 | ||||||||||||||||||
Total fixed charges, as defined | $ | 114,872 | $ | 153,751 | $ | 152,513 | $ | 139,929 | $ | 139,982 | $ | 140,311 | ||||||||||||
Ratio of Earnings to Fixed Charges | 4.57 | 4.08 | 3.75 | 3.99 | 3.16 | 3.40 |