Attached files
The Connecticut Light and Power Company | Exhibit 12 | ||||||||||||||||||||||
Ratio of Earnings to Fixed Charges | |||||||||||||||||||||||
(Unaudited) | |||||||||||||||||||||||
Six Months Ended June 30, 2017 | |||||||||||||||||||||||
For the Years Ended December 31, | |||||||||||||||||||||||
(Thousands of Dollars) | 2016 | 2015 | 2014 | 2013 | 2012 | ||||||||||||||||||
Earnings, as defined: | |||||||||||||||||||||||
Net income | $ | 181,501 | $ | 334,254 | $ | 299,360 | $ | 287,754 | $ | 279,412 | $ | 209,725 | |||||||||||
Income tax expense | 106,855 | 208,308 | 177,396 | 133,451 | 141,663 | 94,437 | |||||||||||||||||
Equity in earnings of equity investees | (20 | ) | (61 | ) | (31 | ) | (32 | ) | (67 | ) | (40 | ) | |||||||||||
Dividends received from equity investees | — | 60 | — | — | 289 | — | |||||||||||||||||
Fixed charges, as below | 74,938 | 152,635 | 153,751 | 152,513 | 139,929 | 139,982 | |||||||||||||||||
Less: Interest capitalized (including AFUDC) | (2,071 | ) | (3,319 | ) | (2,630 | ) | (1,867 | ) | (2,249 | ) | (2,456 | ) | |||||||||||
Total earnings, as defined | $ | 361,203 | $ | 691,877 | $ | 627,846 | $ | 571,819 | $ | 558,977 | $ | 441,648 | |||||||||||
Fixed charges, as defined: | |||||||||||||||||||||||
Interest Expense | $ | 70,264 | $ | 144,110 | $ | 145,795 | $ | 147,421 | $ | 133,650 | $ | 133,127 | |||||||||||
Rental interest factor | 2,603 | 5,206 | 5,326 | 3,225 | 4,030 | 4,399 | |||||||||||||||||
Interest capitalized (including AFUDC) | 2,071 | 3,319 | 2,630 | 1,867 | 2,249 | 2,456 | |||||||||||||||||
Total fixed charges, as defined | $ | 74,938 | $ | 152,635 | $ | 153,751 | $ | 152,513 | $ | 139,929 | $ | 139,982 | |||||||||||
Ratio of Earnings to Fixed Charges | 4.82 | 4.53 | 4.08 | 3.75 | 3.99 | 3.16 |