Exhibit 12b
Tucson Electric Power Company
Computation of Ratio of Earnings to Fixed Charges
6 Months Ended | 12 Months Ended | |||||||||||||||||||||||||||
June 30, | June 30, | December 31, | December 31, | December 31, | December 31, | December 31, | ||||||||||||||||||||||
2013 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | ||||||||||||||||||||||
Thousands of Dollars | ||||||||||||||||||||||||||||
Fixed Charges: | ||||||||||||||||||||||||||||
Interest on Long-Term Debt | $ | 28,564 | $ | 56,308 | $ | 55,038 | $ | 49,858 | $ | 42,378 | $ | 36,226 | $ | 47,456 | ||||||||||||||
Other Interest (1) | (168 | ) | 502 | 1,446 | 1,127 | 433 | 1,571 | 1,367 | ||||||||||||||||||||
Interest on Capital Lease Obligations | 13,554 | 31,902 | 36,593 | 44,874 | 52,534 | 53,670 | 57,252 | |||||||||||||||||||||
Estimated Interest Portion of Rental Expense | 279 | 585 | 611 | 795 | 72 | 106 | 130 | |||||||||||||||||||||
Total Fixed Charges | $ | 42,229 | $ | 89,297 | $ | 93,688 | $ | 96,654 | $ | 95,417 | $ | 91,573 | $ | 106,205 | ||||||||||||||
Net Income (Loss) | $ | 32,266 | $ | 77,287 | $ | 65,470 | $ | 85,334 | $ | 108,260 | $ | 90,688 | $ | 7,206 | ||||||||||||||
Add (Deduct): | ||||||||||||||||||||||||||||
(Income) from Equity Investees | — | — | — | — | — | — | (1,381 | ) | ||||||||||||||||||||
Income Tax Expense (Benefit) | 2,909 | 29,745 | 39,109 | 52,000 | 59,936 | 54,220 | 12,729 | |||||||||||||||||||||
Total Fixed Charges | 42,229 | 89,297 | 93,688 | 96,654 | 95,417 | 91,573 | 106,205 | |||||||||||||||||||||
Total Earnings before Taxes and Fixed Charges | $ | 77,404 | $ | 196,329 | $ | 198,267 | $ | 233,988 | $ | 263,613 | $ | 236,481 | $ | 124,759 | ||||||||||||||
Ratio of Earnings to Fixed Charges | 1.833 | 2.199 | 2.116 | 2.421 | 2.763 | 2.582 | 1.175 |
(1) | Excludes recognition of Allowance for Borrowed Funds Used During Construction. |