Exhibit 12(b)
Tucson Electric Power Company
Computation of Ratio of Earnings to Fixed Charges
Nine Months Ended | Twelve Months Ended | Twelve Months Ended | ||||||||||||||||||||||||||
September 30, | September 30, | December 31, | December 31, | December 31, | December 31, | December 31, | ||||||||||||||||||||||
2012 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | ||||||||||||||||||||||
- Thousands of Dollars - | ||||||||||||||||||||||||||||
Fixed Charges: | ||||||||||||||||||||||||||||
Interest on Long-Term Debt | $ | 40,562 | $ | 53,927 | $ | 49,858 | $ | 42,378 | $ | 36,226 | $ | 47,456 | $ | 50,230 | ||||||||||||||
Other Interest(1) | 1,338 | 1,720 | 1,127 | 433 | 1,571 | 1,367 | 4,538 | |||||||||||||||||||||
Interest on Capital Lease Obligations | 27,419 | 38,725 | 44,874 | 52,534 | 53,670 | 57,252 | 64,477 | |||||||||||||||||||||
Estimated Interest Portion of Rental Expense | 539 | 738 | 795 | 72 | 106 | 130 | 160 | |||||||||||||||||||||
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Total Fixed Charges | $ | 69,858 | $ | 95,110 | $ | 96,654 | $ | 95,417 | $ | 91,573 | $ | 106,205 | $ | 119,405 | ||||||||||||||
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Net Income | $ | 65,018 | $ | 66,579 | $ | 85,334 | $ | 108,260 | $ | 90,688 | $ | 7,206 | $ | 55,591 | ||||||||||||||
Add (Deduct): | ||||||||||||||||||||||||||||
(Income) from Equity Investees | — | — | — | — | — | (1,381 | ) | — | ||||||||||||||||||||
Income Tax Expense | 39,423 | 39,318 | 52,000 | 59,936 | 54,220 | 12,729 | 36,940 | |||||||||||||||||||||
Total Fixed Charges | 69,858 | 95,110 | 96,654 | 95,417 | 91,573 | 106,205 | 119,405 | |||||||||||||||||||||
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Total Earnings before Taxes and Fixed Charges | $ | 174,299 | $ | 201,007 | $ | 233,988 | $ | 263,613 | $ | 236,481 | $ | 124,759 | $ | 211,936 | ||||||||||||||
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Ratio of Earnings to Fixed Charges | 2.495 | 2.113 | 2.421 | 2.763 | 2.582 | 1.175 | 1.775 |
(1) | Excludes recognition of Allowance for Borrowed Funds Used During Construction. |