Exhibit 12a
UNS Energy Corporation
Computation of Ratio of Earnings to Fixed Charges
12 Months Ended | ||||||||||||||||||||||||
December 31, 2012 | December 31, 2011 | December 31, 2010 | December 31, 2009 | December 31, 2008 | December 31, 2007 | |||||||||||||||||||
- Thousands of Dollars - | ||||||||||||||||||||||||
Fixed Charges: | ||||||||||||||||||||||||
Interest on Long-Term Debt | $ | 71,909 | $ | 73,217 | $ | 65,020 | $ | 58,134 | $ | 70,227 | $ | 73,095 | ||||||||||||
Other Interest(1) | 1,954 | 2,535 | 1,651 | 3,468 | 1,837 | 5,480 | ||||||||||||||||||
Interest on Capital Lease Obligations | 36,593 | 44,874 | 52,540 | 53,682 | 57,272 | 64,499 | ||||||||||||||||||
Estimated Interest Portion of Rental Expense | 691 | 926 | 240 | 345 | 188 | 258 | ||||||||||||||||||
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Total Fixed Charges | $ | 111,147 | $ | 121,552 | $ | 119,451 | $ | 115,629 | $ | 129,524 | $ | 143,332 | ||||||||||||
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Net Income | $ | 90,919 | $ | 109,975 | $ | 112,984 | $ | 105,901 | $ | 16,955 | $ | 60,712 | ||||||||||||
Add (Deduct): | ||||||||||||||||||||||||
Losses from Equity Investees | 7 | — | 5,570 | 1,834 | 713 | 340 | ||||||||||||||||||
Income Tax Expense | 55,727 | 66,951 | 76,921 | 63,232 | 18,747 | 40,274 | ||||||||||||||||||
Total Fixed Charges | 111,147 | 121,552 | 119,451 | 115,629 | 129,524 | 143,332 | ||||||||||||||||||
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Total Earnings before Taxes and Fixed Charges | $ | 257,800 | $ | 298,478 | $ | 314,926 | $ | 286,596 | $ | 165,939 | $ | 244,658 | ||||||||||||
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Ratio of Earnings to Fixed Charges | 2.319 | 2.456 | 2.636 | 2.479 | 1.281 | 1.707 |
(1) | Excludes recognition of Allowance for Borrowed Funds Used During Construction and Loss on Extinguishment of Debt. |