Exhibit 12a
UniSource Energy Corporation
Computation of Ratio of Earnings to Fixed Charges
12 Months Ended | ||||||||||||||||||||||||
Dec. 31, | Dec. 31, | Dec. 31, | Dec. 31, | Dec. 31, | Dec. 31, | |||||||||||||||||||
2007 | 2006 | 2005 | 2004 | 2003 | 2002 | |||||||||||||||||||
- Thousands of Dollars - | ||||||||||||||||||||||||
Fixed Charges: | ||||||||||||||||||||||||
Interest on Long-Term Debt | $ | 73,095 | $ | 75,039 | $ | 76,762 | $ | 80,968 | $ | 80,844 | $ | 65,620 | ||||||||||||
Other Interest (1) | 5,480 | 7,922 | 3,153 | 1,947 | 3,709 | 2,123 | ||||||||||||||||||
Interest on Capital Lease Obligations | 64,499 | 72,586 | 79,098 | 85,912 | 84,080 | 87,801 | ||||||||||||||||||
Total Fixed Charges | 143,074 | 155,547 | 159,013 | 168,827 | 168,633 | 155,544 | ||||||||||||||||||
Net Income | 58,373 | 67,447 | 46,144 | 45,919 | 113,941 | 34,928 | ||||||||||||||||||
Less: | ||||||||||||||||||||||||
Discontinued Operations - Net of Tax | - | (1,796 | ) | (5,483 | ) | (5,063 | ) | (7,472 | ) | (12,919 | ) | |||||||||||||
Extraordinary Income & Accounting Change - | ||||||||||||||||||||||||
Net of Tax | - | - | (626 | ) | - | 67,471 | - | |||||||||||||||||
Net Income from Continuing Operations | 58,373 | 69,243 | 52,253 | 50,982 | 53,942 | 47,847 | ||||||||||||||||||
Add (Deduct): | ||||||||||||||||||||||||
(Income) Losses from Equity Investees | 340 | (210 | ) | (2,113 | ) | (7,121 | ) | 3,051 | 3,047 | |||||||||||||||
Income Taxes | 39,079 | 43,936 | 37,623 | 37,186 | 16,531 | 26,432 | ||||||||||||||||||
Total Fixed Charges | 143,074 | 155,547 | 159,013 | 168,827 | 168,633 | 155,544 | ||||||||||||||||||
Total Earnings before Taxes | ||||||||||||||||||||||||
and Fixed Charges | $ | 240,866 | $ | 268,516 | $ | 246,776 | $ | 249,874 | $ | 242,157 | $ | 232,870 | ||||||||||||
Ratio of Earnings to Fixed Charges | 1.684 | 1.726 | 1.552 | 1.480 | 1.436 | 1.497 |
(1) Excludes recognition of Allowance for Borrowed Funds Used During Construction.