Exhibit 12.3 | ||||||||||||||||||||||||
TEXAS-NEW MEXICO POWER COMPANY | ||||||||||||||||||||||||
Ratio of Earnings to Fixed Charges | ||||||||||||||||||||||||
(In thousands, except ratio) | ||||||||||||||||||||||||
Six Months Ended | Year Ended December 31, | |||||||||||||||||||||||
June 30, 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | |||||||||||||||||||
Fixed charges, as defined by the Securities and Exchange Commission: | ||||||||||||||||||||||||
Interest expensed and capitalized | $ | 12,901 | $ | 24,941 | $ | 24,481 | $ | 26,233 | $ | 27,914 | $ | 28,632 | ||||||||||||
Amortization of debt premium, discount and expenses | 528 | 1,195 | 1,159 | 1,493 | 1,679 | 2,683 | ||||||||||||||||||
Estimated interest factor of lease rental charges | 715 | 1,311 | 1,241 | 956 | 1,202 | 1,246 | ||||||||||||||||||
Total Fixed Charges | $ | 14,144 | $ | 27,447 | $ | 26,881 | $ | 28,682 | $ | 30,795 | $ | 32,561 | ||||||||||||
Earnings, as defined by the Securities and Exchange Commission: | ||||||||||||||||||||||||
Earnings from continuing operations before income taxes | $ | 30,963 | $ | 60,330 | $ | 46,711 | $ | 42,099 | $ | 36,138 | $ | 26,026 | ||||||||||||
Fixed charges as above | 14,144 | 27,447 | 26,881 | 28,682 | 30,795 | 32,561 | ||||||||||||||||||
Interest capitalized | (297 | ) | (609 | ) | (361 | ) | (706 | ) | (593 | ) | (158 | ) | ||||||||||||
Earnings Available for Fixed Charges | $ | 44,810 | $ | 87,168 | $ | 73,231 | $ | 70,075 | $ | 66,340 | $ | 58,429 | ||||||||||||
Ratio of Earnings to Fixed Charges | 3.17 | 3.18 | 2.72 | 2.44 | 2.15 | 1 | 1.79 | |||||||||||||||||
1 Earnings from continuing operations before income taxes for the year ended December 31, 2011 includes a pre-tax loss of $3.9 million due to the write-off of regulatory disallowances. If that loss were excluded, the Ratio of Earnings to Fixed Charges would have been 2.28. | ||||||||||||||||||||||||
- TXNM Dashboard
- Financials
- Filings
- Transcripts
- ETFs
- Insider
- Institutional
- Shorts
- News
-
10-Q Filing
TXNM Energy (TXNM) 10-Q2015 Q2 Quarterly report
Filed: 31 Jul 15, 12:00am