Nevada Power (NVP) 10-K2004 FY Annual report

Filed: 16 Mar 05, 12:00am

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New words: abetted, ACLM, add, adhering, adjudicate, Adventure, adversary, aimed, Alcan, Alumni, Andalex, APS, Australia, aware, bankrupt, Barney, Beaumont, belonging, Big, Boy, budget, Budgeted, Bush, CAISO, CALPX, Cancer, capture, CBA, Centaur, chargeable, Chemical, Chuck, Citigroup, coalition, COB, Cogen, colder, compliant, conceptual, concert, Concurrent, concurrently, Constellation, contrary, cooler, cooperative, Corrupt, COSO, CRC, Creative, culture, Dacole, degree, detect, detection, disgorge, disgorgement, dismantle, dispository, drawn, drew, easy, elementary, Emma, enjoin, enjoined, Erisa, erosion, Eurodollar, eventual, exhaustive, expedited, expenditure, fall, falsely, FAS, fast, firmly, Fluor, fold, footnote, Fort, fractional, frame, geology, gradual, greatest, greenhouse, Harmon, Harrah, Horn, Houston, illicit, imposition, inability, inappropriate, Influence, inInternal, inquiry, inspection, Inspite, instance, insufficient, interium, investigatory, Joseph, justification, Kettering, Kiewit, Kyoto, lattice, Leadership, lobbying, Logical, Loma, LVCVA, Macquarie, Mall, Marsh, McLennan, Melinda, migrated, minimisprovision, Mira, Mona, multiple, Museum, Navaho, NCA, Newmont, NNEI, nonbinding, nullified, NYSE, occupancy, Opal, opted, Oxbow, password, penalty, Philip, portray, pre, precise, prevalent, proper, Protocol, Quaker, quickly, Race, ratified, ratify, REC, recordkeeping, reissued, rejected, requisite, resubmitted, retested, revisiting, revitalization, revoke, revoked, Rock, Saguaro, Satre, SDNY, Solomon, steadily, steel, streamlined, strip, summertime, suspension, synchronization, synchronized, TABCORP, TAG, tender, tendered, tentative, thede, thereunder, thirty, thisForm, thrive, timeframe, Treadway, TRED, trench, triennial, turnover, tying, UC, UEC, unauthorized, uncontested, uncovered, unreimbursed, unscheduled, unworkable, valid, validating, validation, Virginia, volt, waiting, warming, whichever, Winnemucca, Wood, WSPPA, yearly

Removed: aforementioned, appointed, Assistant, attorney, auction, certificate, check, hereof, joining, knowledge, maximize, organization, package, prepare, Richard, shorter, supplied, Treasurer, twentieth, underground

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EXHIBIT 12 (A)

SIERRA PACIFIC RESOURCES
RATIOS OF EARNINGS TO FIXED CHARGES


	Year Ended December 31,
Dollars in thousands	2004			2003			2002			2001			2000
EARNINGS AS DEFINED:
Income (Loss) From Continuing Operations After Interest Charges	$	35,635		$	(104,160	)	$	(294,979	)	$	35,818		$	(45,264	)
Income Taxes		20,631			(44,207	)		(161,191	)		14,218			(30,193	)

Income (Loss) From Continuing Operations before Income Taxes		56,266			(148,367	)		(456,170	)		50,036			(75,457	)

Fixed Charges		333,556			388,565			299,824			243,874			209,937
Capitalized Interest		(8,587	)		(5,976	)		(5,270	)		(2,801	)		(10,634	)
Preferred Stock Dividend Requirement		(6,000	)		(6,000	)		(6,000	)		(5,692	)		(5,383	)


Total	$	375,235		$	228,222		$	(167,616	)	$	285,417		$	118,463


FIXED CHARGES AS DEFINED:
Interest Expensed and Capitalized (1)	$	327,556		$	382,565		$	293,824		$	238,182		$	204,554
Preferred Stock Dividend Requirement		6,000			6,000			6,000			5,692			5,383


Total	$	333,556		$	388,565		$	299,824		$	243,874		$	209,937


RATIO OF EARNINGS TO FIXED CHARGES		1.12									1.17

DEFICIENCY	$	—		$	160,343		$	467,440		$	—		$	91,474

(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, “Fixed charges” represent the aggregate of interest charges on short-term and long-term debt, allowance for borrowed funds used during construction (AFUDC) and capitalized interest, the portion of rental expense deemed to be attributable to interest, and the pre-tax preferred stock dividend requirement of SPPC. “Earnings” represent pre-tax income (or Loss) from continuing operations before pre-tax preferred stock dividend requirement of SPPC, fixed charges and capitalized interest.