Public Service Company of New Mexico PFD 4.58% (PNMXO) 10-Q2008 Q1 Quarterly report

Filed: 7 May 08, 12:00am

Content analysis

Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability	8th grade Avg

New words: abandonment, accidental, accomplished, accurately, advocate, ALG, Answer, appellate, arbitraged, arising, atmosphere, automatically, billion, binding, body, breach, Brotherhood, burning, CAISO, CalPx, Canadian, cancelled, cap, capped, CCP, coalition, complementary, conclusion, conclusive, Continental, Convenience, counterclaim, CPUC, CRHC, customary, deferral, degree, deteriorate, deterioration, disallow, disapproved, Discovery, dramatically, earliest, EBITDA, EMNRD, evidenced, exit, exiting, expedited, expenditure, exploring, extreme, FDIC, feasibility, fewer, FIRREA, foreseeable, FPPAC, FSP, GHG, goal, harm, health, hierarchy, human, inactive, inadequate, indemnification, inflation, insignificant, intervention, irrevocable, irrevocably, IV, key, kWh, landfill, leadership, led, LIBOR, lock, Lockyer, Lordsburg, mandate, maximize, Mineral, Necessity, NEIL, NMGC, NODA, NOI, nonperformance, north, Occidental, older, orderly, overhaul, placement, Plateau, postage, precise, prehearing, prepaid, publicly, Pyramid, reallocated, reassigned, REC, recast, recasting, receivership, reclaim, Reclamation, Reconsideration, refueling, regime, reinstate, reinstatement, reiterated, released, relinquished, rendered, Republic, restitution, restored, restructure, restructuring, retrofit, revisit, rounding, RPS, RSB, SCE, Secretary, seized, seizure, simultaneously, SMCRA, speculative, stabilization, stack, standing, stationary, step, STOCKHOLDER, stopping, strategic, sudden, suppression, syndicating, therewith, topic, treated, truncate, turn, unearned, unforeseen, unnecessary, unobservable, unopposed, USCAP, visually, voluntarily, watch, WCI, worth

Removed: absence, accelerate, acceleration, aid, allocation, Applying, arrive, assured, Avistar, bad, bear, Bevill, bridge, bringing, Burlington, capitalized, closed, collection, collectively, commonly, composition, consumer, contemporaneously, death, deliver, deregulation, deviation, dioxide, disciplined, disconnect, discrete, dismissing, diversify, Edison, enlisted, examination, exchanged, failing, false, favorable, finalized, finalizing, forego, frame, franchise, fulfill, Gathering, goodwill, ground, guaranteed, heating, impose, improved, inclusive, instrument, intangible, integration, IRS, larger, leaseholder, lessor, liquidation, lodged, lodging, long, manner, match, mitigated, mutual, notified, offering, offsetting, ordinary, percentage, permanent, permitting, physically, positioned, preconstruction, presence, prevented, properly, protect, prove, published, purportedly, ratio, recognizing, redemption, refined, Register, relator, reliable, relief, remained, repaid, repay, repeated, repurchase, season, secure, securing, securitization, selected, seller, southern, sponsored, stable, startup, stating, sued, sulfur, Sunterra, taxation, taxing, terminating, treble, unchanged, underpaying, undistributed, unfavorable, unused, upgraded, utilize, valuation, venture, waive, written, WSPP, Wyoming

Search this filing

Filing tables

Export all tables to Excel

Filing exhibits

Related press release

PNMXO similar filings

Filing view

Default size S M L
Default font Times Arial

External links

Share this filing

Exhibit 12.2

PUBLIC SERVICE COMPANY OF NEW MEXICO

Ratio of Earnings to Fixed Charges

(In thousands, except ratio)

	Three Months
	Ended			Year Ended December 31,
	March 31, 2008			2007			2006			2005			2004			2003
Fixed charges, as defined by the Securities and Exchange
Commission:

Interest on long-term debt	$	10,530		$	38,534		$	40,541		$	39,408		$	36,801		$	48,067
Amortization of debt premium, discount and expenses		1,149			4,618			2,871			2,856			3,036			2,958
Other interest		2,492			9,799			3,956			1,921			1,719			3,859
Estimated interest factor of lease rental charges		3,964			16,630			16,448			16,954			16,406			17,007
Interest capitalized		114			3,738			1,946			1,054			752			909


Total Fixed Charges	$	18,249		$	73,319		$	65,762		$	62,193		$	58,714		$	72,800

Earnings, as defined by the Securities and Exchange
Commission:

Earnings (loss) before income taxes	$	(44,066	)	$	34,611		$	89,657		$	51,034		$	114,690		$	74,400
Fixed charges as above		18,249			73,319			65,762			62,193			58,714			72,800
Interest capitalized		(114	)		(3,738	)		(1,946	)		(1,054	)		(752	)		(909	)

Earnings (Loss) Available for Fixed Charges	$	(25,931	)	$	104,192		$	153,473		$	112,173		$	172,652		$	146,291

Ratio of Earnings to Fixed Charges		N/M	*		1.42			2.33			1.80			2.94			2.01

* The ratio of earnings to fixed charges for the three months ended March 31, 2008 is not meaningful since earnings available for fixed charges is negative. The shortfall in the earnings available for fixed charges to achieve a ratio of earnings to fixed charges of 1.00 amounted to $44.2 million for the three months ended March 31, 2008.