Exhibit 12a
UniSource Energy Corporation | |||||||
Computation of Ratio of Earnings to Fixed Charges | |||||||
6 Months Ended | 12 Months Ended | 12 Months Ended(2) | |||||
Jun. 30, | Jun. 30, | Dec. 31, | Dec. 31, | Dec. 31, | Dec. 31, | Dec. 31, | |
2008 | 2008 | 2007 | 2006 | 2005 | 2004 | 2003 | |
- Thousands of Dollars - | |||||||
Fixed Charges: | |||||||
Interest on Long-Term Debt | $ 35,420 | $ 72,250 | $ 73,095 | $ 75,039 | $ 76,762 | $ 80,968 | $ 80,844 |
Other Interest (1) | 1,723 | 3,793 | 5,480 | 7,922 | 3,153 | 1,947 | 3,709 |
Interest on Capital Lease Obligations | 28,667 | 60,888 | 64,499 | 72,586 | 79,098 | 85,912 | 84,080 |
Total Fixed Charges | $ 65,810 | $ 136,931 | $ 143,074 | $155,547 | $159,013 | $168,827 | $168,633 |
Net Income | 2,132 | 43,757 | 58,373 | 67,447 | 46,144 | 45,919 | 113,941 |
Less: | |||||||
Discontinued Operations - Net of Tax | - | - | - | (1,796) | (5,483) | (5,063) | (7,472) |
Accounting Change - Net of Tax | - | - | - | - | (626) | - | 67,471 |
Net Income/(Loss) from Continuing Operations | 2,132 | 43,757 | 58,373 | 69,243 | 52,253 | 50,982 | 53,942 |
Add (Deduct): | |||||||
(Income) Losses from Equity Investees (2) | 1,535 | 1,701 | 340 | (210) | (2,113) | (7,121) | 3,051 |
Income Taxes | 2,913 | 30,044 | 39,079 | 43,936 | 37,623 | 37,186 | 16,531 |
Total Fixed Charges | 65,810 | 136,931 | 143,074 | 155,547 | 159,013 | 168,827 | 168,633 |
Total Earnings before Taxes | |||||||
and Fixed Charges | $ 72,390 | $ 212,433 | $ 240,866 | $268,516 | $246,776 | $249,874 | $242,157 |
Ratio of Earnings to Fixed Charges | 1.100 | 1.551 | 1.684 | 1.726 | 1.552 | 1.480 | 1.436 |
(1) Excludes recognition of Allowance for Borrowed Funds Used During Construction. | |||||||
(2) The information previously reported has been reclassified for the discontinued operations of Global Solar, Inc. |