TEXAS-NEW MEXICO POWER COMPANY | Exhibit 12.3 | ||||||||||||
Ratio of Earnings to Fixed Charges | |||||||||||||
(In thousands, except ratio) | |||||||||||||
Year Ended December 31, | |||||||||||||
Nine Months Ending | |||||||||||||
September 30, 2009 | 2008 | 2007 | 2006 | 2005 | 2004 | ||||||||
Fixed charges, as defined by the Securities and Exchange | |||||||||||||
Commission: | |||||||||||||
Interest on long-term debt (including interest capitalized) | $ 15,159 | $ 12,427 | $ 22,394 | $ 25,728 | $ 25,727 | $ 25,855 | |||||||
Amortization of debt premium, discount and expenses | 2,658 | 1,504 | 1,925 | 1,695 | 2,111 | 2,522 | |||||||
Other interest (including interest capitalized) | 3,207 | 5,434 | 1,129 | 1,646 | 179 | 442 | |||||||
Estimated interest factor of lease rental charges | 374 | 571 | 844 | 367 | 377 | 279 | |||||||
Total Fixed Charges | $ 21,398 | $ 19,936 | $ 26,292 | $ 29,436 | $ 28,394 | $ 29,098 | |||||||
Earnings, as defined by the Securities and Exchange | |||||||||||||
Commission: | |||||||||||||
Earnings from continuing operations before income taxes | $ 15,604 | $ 2,335 | $ 29,055 | $ 17,905 | $ 25,183 | $ 66,117 | |||||||
Fixed charges as above | 21,398 | 19,936 | 26,292 | 29,436 | 28,394 | 29,098 | |||||||
Interest capitalized | (1,013) | (1,025) | (332) | (209) | (200) | (370) | |||||||
Earnings Available for Fixed Charges | $ 35,989 | $ 21,246 | $ 55,015 | $ 47,132 | $ 53,377 | $ 94,845 | |||||||
Ratio of Earnings to Fixed Charges | 1.68 | 1.07 | 2.09 | 1.60 | 1.88 | 3.26 | |||||||
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10-Q Filing
TXNM Energy (TXNM) 10-Q2009 Q3 Quarterly report
Filed: 2 Nov 09, 12:00am