EXHIBIT 12.1
Statement Regarding Computation of Ratios of Earnings to Fixed Charges
Nevada Power Company
Three Months Ended March 31, | Year Ended December 31, | |||||||||||||||||||||||||||
Amounts in 000’s | 2005 | 2004 | 2004 | 2003 | 2002 | 2001 | 2000 | |||||||||||||||||||||
EARNINGS AS DEFINED: | ||||||||||||||||||||||||||||
Income (Loss) From Continuing Operations After Interest Charges | $ | (8,033 | ) | $ | (15,406 | ) | $ | 104,312 | $ | 19,277 | $ | (235,070 | ) | $ | 63,405 | $ | (7,928 | ) | ||||||||||
Income Taxes | (3,692 | ) | (9,465 | ) | 56,572 | (614 | ) | (131,784 | ) | 32,737 | (9,386 | ) | ||||||||||||||||
Income (Loss) From Continuing Operations before Income Taxes | (11,725 | ) | (24,871 | ) | 160,884 | 18,663 | (366,854 | ) | 96,142 | (17,314 | ) | |||||||||||||||||
Fixed Charges | 50,665 | 43,199 | 150,793 | 198,042 | 141,380 | 114,484 | 104,402 | |||||||||||||||||||||
Capitalized Interest | (4,313 | ) | (930 | ) | (5,738 | ) | (2,700 | ) | (3,412 | ) | (2,141 | ) | (7,855 | ) | ||||||||||||||
Total | $ | 34,627 | $ | 17,398 | $ | 305,939 | $ | 214,005 | $ | (228,886 | ) | $ | 208,485 | $ | 79,233 | |||||||||||||
FIXED CHARGES AS DEFINED: | ||||||||||||||||||||||||||||
Interest Expensed and Capitalized (1) | $ | 50,665 | $ | 43,199 | $ | 150,793 | $ | 198,042 | $ | 141,380 | $ | 114,484 | $ | 104,402 | ||||||||||||||
Total | $ | 50,665 | $ | 43,199 | $ | 150,793 | $ | 198,042 | $ | 141,380 | $ | 114,484 | $ | 104,402 | ||||||||||||||
RATIO OF EARNINGS TO FIXED CHARGES | 2.03 | 1.08 | 1.82 | |||||||||||||||||||||||||
DEFICIENCY | $ | 16,038 | $ | 25,801 | $ | — | $ | — | $ | 370,266 | $ | — | $ | 25,169 |
(1) | Includes amortization of premiums, discounts, and capitalized debt expense and interest component of rent expense. |