Exhibit 12.2
PNM RESOURCES, INC. AND SUBSIDIARIES
Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends
(1,000's)
Line | Year Ended December 31, | |||||||||||||
No. | 12/31/05 | 12/31/04 | 12/31/03 | 12/31/02 | 12/31/01 | 12/31/00 | ||||||||
Fixed charges, as defined by the Securities and | ||||||||||||||
Exchange Commission: | ||||||||||||||
1 | Interest on Long-term Debt | $ 75,736 | $ 46,702 | $ 59,429 | $ 56,409 | $ 62,716 | $ 62,823 | |||||||
2 | Amortization of Debt Premium, Discount and | |||||||||||||
Expenses | 3,642 | 2,697 | 2,838 | 2,302 | 2,346 | 2,037 | ||||||||
3 | Other Interest | 14,299 | 2,319 | 5,423 | 2,859 | (42) | 752 | |||||||
4 | Estimated Interest Factor of Lease Rental | |||||||||||||
Charges | 20,643 | 19,617 | 20,452 | 23,233 | 22,856 | 19,716 | ||||||||
5 | Total Fixed Charges | 114,320 | 71,335 | 88,142 | 84,803 | 87,876 | 85,328 | |||||||
6 | Preferred dividend requirements | 2,868 | 572 | 586 | 586 | 586 | 586 | |||||||
7 | Total Fixed Charges and Preferred dividend | |||||||||||||
requirements | $117,188 | $ 71,907 | $ 88,728 | $ 85,389 | $ 88,462 | $ 85,914 | ||||||||
Earnings, as defined by the Securities and | ||||||||||||||
Exchange Commission: | ||||||||||||||
8 | Consolidated Net Earnings from Continuing | |||||||||||||
Operations | $ 71,021 | $ 88,258 | $ 59,138 | $ 64,272 | $150,433 | $100,946 | ||||||||
9 | Income Taxes | 32,861 | 49,247 | 27,889 | 33,032 | 81,063 | 74,345 | |||||||
10 | Add Fixed Charges as Above | 114,320 | 71,335 | 88,142 | 84,803 | 87,876 | 85,328 | |||||||
11 | Earnings Available for Fixed Charges | $218,202 | $208,840 | $175,169 | $182,107 | $319,372 | $260,619 | |||||||
12 | Ratio for Earnings to Fixed Charges | 1.86 | 2.90 | 1.97 | 2.13 | 3.61 | 3.03 |