El Paso Electric 10-K2013 FY Annual report

Filed: 26 Feb 14, 12:00am

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New words: adequacy, argument, attempt, automatically, Caliente, carryforward, CCR, cessation, charitable, cleaner, Comision, commensurate, comment, Concurrently, Conservation, Coyote, deliberate, denial, disapproval, dissolution, dissolved, drought, enroll, enrolled, ES, eventual, exit, facilitate, formal, frame, frozen, grid, heard, hired, House, inaction, intensity, intersect, Intervenor, intraday, investor, lifted, lowest, meantime, medical, Montwood, MPS, NAV, notification, NTEC, NWPA, pendency, predefined, proximity, pubic, redesigned, refinery, reinstate, reinstated, reiterated, remanded, remeasured, remeasurement, remeasuring, reopened, resume, sequestration, shortfall, shutdown, Similarly, solicited, Solicitor, subleased, surtax, Taxation, tier, type, unbundled, unscheduled, vandalism, waiver, wholly, withdrawn, withholding

Removed: acceptance, Administration, Army, Attorney, collectively, commitment, conclusion, conjunction, consolidation, contemplated, delay, EECRF, eliminated, expensed, improving, intercompany, monetary, point, PPACA, reacquired, refinancing, refining, regulating, remarketed, seeking, shared, suit, Tailoring

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EXHIBIT 12.01



El Paso Electric Company
Computation of Ratios of Earnings to Fixed Charges
(Dollars in Thousands)


	Years Ended December 31,
	2013			2012			2011			2010			2009
Earnings from Continuing
Operations (a)	$	132,238		$	137,825		$	157,247		$	141,333		$	99,977
Fixed Charges (b)
Interest charges	59,066			55,822			55,104			51,080			50,908
Interest portion of rent expense	823			939			908			830			929
Total Fixed Charges	59,889			56,761			56,012			51,910			51,837
Capitalized Interest	(21,362		)	(20,312		)	(18,186		)	(19,974		)	(16,283		)
Earnings (c)	$	170,765		$	174,274		$	195,073		$	173,269		$	135,531
Ratio of Earnings to Fixed Charges	2.9			3.1			3.5			3.3			2.6

_______________________

(a) Earnings from continuing operations consist of income from continuing operations before income taxes, extraordinary item and cumulative effects of accounting changes.

(b) Fixed charges consist of all interest on indebtedness, amortization of debt discount and expense and the estimated portion of rental expense that represents an interest factor.