Nevada Power (NVP) 10-Q 2013 Q3 Quarterly report

EXHIBIT 12.2
NEVADA POWER COMPANY
RATIOS OF EARNINGS TO FIXED CHARGES
(Dollars in Thousands)
		Nine Months Ended
		September 30,						Year Ended December 31,
		2013			2012			2012			2011			2010			2009			2008
EARNINGS AS DEFINED:
Net income		$	228,552		$	256,151		$	257,738		$	132,586		$	185,943		$	134,284		$	151,431
Income tax expense		124,730			137,328			138,113			70,737			91,757			61,652			71,382
Fixed Charges		164,029			166,129			220,470			233,788			240,830			247,290			210,067
Capitalized Interest (allowance for
borrowed funds used during construction)		(4,763		)	(4,021		)	(5,437		)	(6,770		)	(21,443		)	(17,184		)	(20,063		)
Total		$	512,548		$	555,587		$	610,884		$	430,341		$	497,087		$	426,042		$	412,817
FIXED CHARGES AS DEFINED:
Interest Expensed and Capitalized (1)		$	164,029		$	166,129		$	220,470		$	233,788		$	240,830		$	247,290		$	210,067
Total		$	164,029		$	166,129		$	220,470		$	233,788		$	240,830		$	247,290		$	210,067
RATIO OF EARNINGS TO FIXED
CHARGES		3.12			3.34			2.77			1.84			2.06			1.72			1.97
(1)	Includes amortization of premiums, discounts, and capitalized debt expense and interest component of rent expense.

For the purpose of calculating the ratios of earnings to fixed charges, “Earnings” represents net income adjusted for income taxes and fixed charges excluding capitalized interest. “Fixed Charges” represents the aggregate of interest charges on long-term debt (whether expensed or capitalized) and the portion of rental expense deemed attributable to interest.