Public Service Company of New Mexico PFD 4.58% (PNMXO) 10-K/A 2005 FY Annual report (amended)

Exhibit 12.2

PNM RESOURCES, INC. AND SUBSIDIARIES

Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends

(1,000's)

Line		Year Ended December 31,
No.		12/31/05	12/31/04	12/31/03	12/31/02	12/31/01	12/31/00
	Fixed charges, as defined by the Securities and
	Exchange Commission:
1	Interest on Long-term Debt	$ 75,736	$ 46,702	$ 59,429	$ 56,409	$ 62,716	$ 62,823
2	Amortization of Debt Premium, Discount and
	Expenses	3,642	2,697	2,838	2,302	2,346	2,037
3	Other Interest	14,299	2,319	5,423	2,859	(42)	752
4	Estimated Interest Factor of Lease Rental
	Charges	20,643	19,617	20,452	23,233	22,856	19,716
5	Total Fixed Charges	114,320	71,335	88,142	84,803	87,876	85,328
6	Preferred dividend requirements	2,868	572	586	586	586	586
7	Total Fixed Charges and Preferred dividend
	requirements	$117,188	$ 71,907	$ 88,728	$ 85,389	$ 88,462	$ 85,914
	Earnings, as defined by the Securities and
	Exchange Commission:
8	Consolidated Net Earnings from Continuing
	Operations	$ 71,021	$ 88,258	$ 59,138	$ 64,272	$150,433	$100,946
9	Income Taxes	32,861	49,247	27,889	33,032	81,063	74,345
10	Add Fixed Charges as Above	114,320	71,335	88,142	84,803	87,876	85,328
11	Earnings Available for Fixed Charges	$218,202	$208,840	$175,169	$182,107	$319,372	$260,619
12	Ratio for Earnings to Fixed Charges	1.86	2.90	1.97	2.13	3.61	3.03