Legislative elections nearly always go to the candidate with more money, and the candidate with more money is almost always an incumbent. That’s the upshot of the 71-page report released today by the state’s Office of Campaign & Political Finance.

According to the report, legislative candidates spent $12.46 million last year, which was an increase of $64,295 from two years before — even though the number of candidates on primary and general election ballots across the state dropped from 339 to 311. (This was the lowest number since 1990, when the office started keeping records. CommonWealth has reported on the paucity of candidates here and here.) The OCPF calculated that 98 percent of the incumbent legislators seeking re-election last year are back in office.

In the Senate, winning candidates spent an average of $88,827; losing candidates spent an average of $43,897. On the House side, winners spent an average of $40,233; losers spent an average of $19,029.

Twelve members of the 200-member Legislature, listed below, can say they won office despite being outspent by their opponents. Half are women, even though women make up only about one-quarter of the state Legislature overall.

Sen. Susan Fargo (D-Lincoln)*
Sen. Sonia Chang-Diaz (D-Boston)
Rep. Bradford Hill (R-Ipswich)*
Rep. Robert Hargraves (R-Groton)*
Rep. Thomas Conroy (D-Wayland)*
Rep. Carolyn Dykema (D-Holliston)
Rep. Ann-Margaret Ferrante (D-Gloucester)
Rep. Brian Ashe (D-Longmeadow)
Rep. James Arciero (D-Westford)
Rep. Kate Hogan (D-Stow)
Rep. Danielle Gregoire (D-Marlborough)
Rep. Michael Brady (D-Brockton)
*Incumbent