NSTAR ELECTRIC CO - FORM 10-Q - EX-12 - EXHIBIT 12 NU - 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-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-12 - EXHIBIT 12 WMECO - NSTAR ELECTRIC COexh12wmeco.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





Northeast Utilities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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

$

 146,974 

 

$

 400,513 

 

$

394,107 

 

$

 335,592 

 

$

 266,387 

 

$

 251,455 

   Income tax expense

 

 82,019 

 

 

 170,953 

 

 

210,409 

 

 

 179,947 

 

 

 105,661 

 

 

 109,420 

   Equity in earnings of regional nuclear

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

     generating and transmission companies

 

 (584)

 

 

 (671)

 

 

(1,429)

 

 

 (1,762)

 

 

 (1,637)

 

 

 (3,983)

   Dividends received from regional equity investees

 

 677 

 

 

 940 

 

 

1,488 

 

 

 3,794 

 

 

 1,017 

 

 

 4,542 

   Fixed charges, as below

 

 167,823 

 

 

 275,948 

 

 

263,393 

 

 

 296,764 

 

 

 304,374 

 

 

 275,611 

   Less: Interest capitalized (including AFUDC)

 

 (2,863)

 

 

 (11,758)

 

 

(10,165)

 

 

 (5,929)

 

 

 (17,797)

 

 

 (17,568)

   Less: Preferred dividend security requirements of

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

     consolidated subsidiaries

 

 (5,448)

 

 

 (9,265)

 

 

(10,170)

 

 

 (9,265)

 

 

 (9,265)

 

 

 (9,265)

Total earnings, as defined

$

 388,598 

 

$

 826,660 

 

$

847,633 

 

$

 799,141 

 

$

 648,740 

 

$

 610,212 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed charges, as defined:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

   Interest on long-term debt (a)

$

 146,892 

 

$

 231,630 

 

$

231,089 

 

$

 224,712 

 

$

 193,883 

 

$

 162,841 

   Interest on rate reduction bonds

 

 3,487 

 

 

 8,611 

 

 

20,573 

 

 

 36,524 

 

 

 50,231 

 

 

 61,580 

   Other interest (b)

 

 5,116 

 

 

 10,184 

 

 

(14,371)

 

 

 12,401 

 

 

 25,031 

 

 

 15,824 

   Rental interest factor

 

 4,017 

 

 

 4,500 

 

 

5,767 

 

 

 7,933 

 

 

 8,167 

 

 

 8,533 

   Preferred dividend security requirements of

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

     consolidated subsidiaries

 

 5,448 

 

 

 9,265 

 

 

10,170 

 

 

 9,265 

 

 

 9,265 

 

 

 9,265 

   Interest capitalized (including AFUDC)

 

 2,863 

 

 

 11,758 

 

 

10,165 

 

 

 5,929 

 

 

 17,797 

 

 

 17,568 

 Total fixed charges, as defined

$

 167,823 

 

$

 275,948 

 

$

263,393 

 

$

 296,764 

 

$

 304,374 

 

$

 275,611 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ratio of Earnings to Fixed Charges

 

 2.32 

 

 

 3.00 

 

 

 3.22 

 

 

 2.69 

 

 

 2.13 

 

 

 2.21 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(b) For all periods presented, other interest includes interest related to accounting for uncertain tax positions.











NSTAR ELECTRIC CO Reports