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- 10-K Annual report
- 12.1 Ratio of Earnings to Fixed Charges - PNMR
- 12.2 Ratio of Earnings to Fixed Charges - PNM
- 12.3 Ratio of Earnings to Fixed Charges - TNMP
- 21 Certain Subsidiaries of PNM Resources, Inc.
- 23.1 Consent of Deloitte & Touche LLP for PNMR
- 23.2 Consent of Deloitte & Touche LLP for PNM
- 31.1 CEO Certification Pursuant to Section 302 - PNMR
- 31.2 CFO Certification Pursuant to Section 302 - PNMR
- 31.3 CEO Certification Pursuant to Section 302 - PNM
- 31.4 CFO Certification Pursuant to Section 302 - PNM
- 31.5 CEO Certification Pursuant to Section 302 - TNMP
- 31.6 CFO Certification Pursuant to Section 302 - TNMP
- 32.1 CEO and CFO Certification Pursuant to Section 906 - PNMR
- 32.2 CEO and CFO Certification Pursuant to Section 906 - PNM
- 32.3 CEO and CFO Certification Pursuant to Section 906 - TNMP
Exhibit 12.2
PUBLIC SERVICE COMPANY OF NEW MEXICO
Ratio of Earnings to Fixed Charges
(In thousands, except ratio)
Year Ended December 31, | ||||||||||||||||||||
2010 | 2009 | 2008 | 2007 | 2006 | ||||||||||||||||
Fixed charges, as defined by the Securities and Exchange Commission: | ||||||||||||||||||||
Interest expensed and capitalized | $ | 73,423 | $ | 73,104 | $ | 72,427 | $ | 58,045 | $ | 49,379 | ||||||||||
Amortization of debt premium, discount and expenses | 1,274 | 1,336 | 4,345 | 4,618 | 2,871 | |||||||||||||||
Interest from discontinued operations (including capitalized interest) | — | 1,027 | 13,758 | 12,546 | 11,790 | |||||||||||||||
Estimated interest factor of lease rental charges | 4,103 | 4,517 | 4,553 | 4,661 | 4,337 | |||||||||||||||
Total Fixed Charges | $ | 78,800 | $ | 79,984 | $ | 95,083 | $ | 79,870 | $ | 68,377 | ||||||||||
Earnings, as defined by the Securities and Exchange Commission: | ||||||||||||||||||||
Earnings (loss) from continuing operations before income taxes and non-controlling interest | $ | 107,288 | $ | 45,627 | $ | (69,324 | ) | $ | 34,611 | $ | 89,657 | |||||||||
Fixed charges as above | 78,800 | 79,984 | 95,083 | 79,870 | 68,377 | |||||||||||||||
Non-controlling interest in earnings of Valencia | (13,563 | ) | (11,890 | ) | (7,179 | ) | — | — | ||||||||||||
Interest capitalized | (2,811 | ) | (6,067 | ) | (7,363 | ) | (10,033 | ) | (5,257 | ) | ||||||||||
Earnings Available for Fixed Charges | $ | 169,714 | $ | 107,654 | $ | 11,217 | $ | 104,448 | $ | 152,777 | ||||||||||
Ratio of Earnings to Fixed Charges | 2.15 | 1.35 | 0.12 | 1 | 1.31 | 2.23 | ||||||||||||||
1 | The shortfall in the earnings available for fixed charges to achieve a ratio of earnings to fixed charges of 1.00 amounted to $83.9 million for the year December 31, 2008 |