Exhibit 12A
UniSource Energy Corporation
Computation of Ratio of Earnings to Fixed Charges
Computation of Ratio of Earnings to Fixed Charges
3 Months Ended | 12 Months Ended | 12 Months Ended (2) | |||||||||||||||||||
Mar. 31 | Mar. 31 | Dec. 31, | Dec. 31, | Dec. 31, | Dec. 31, | Dec. 31, | |||||||||||||||
2007 | 2007 | 2006 | 2005 | 2004 | 2003 | 2002 | |||||||||||||||
- Thousands of Dollars - | |||||||||||||||||||||
Fixed Charges: | |||||||||||||||||||||
Interest on Long-Term Debt | $ | 17,989 | $ | 74,343 | $ | 75,039 | $ | 76,762 | $ | 80,968 | $ | 80,844 | $ | 65,620 | |||||||
Other Interest (1) | 1,761 | 8,377 | 7,922 | 3,153 | 1,947 | 3,709 | 2,123 | ||||||||||||||
Interest on Capital Lease Obligations | 16,152 | 70,191 | 72,586 | 79,098 | 85,912 | 84,080 | 87,801 | ||||||||||||||
Total Fixed Charges | 35,902 | 152,911 | 155,547 | 159,013 | 168,827 | 168,633 | 155,544 | ||||||||||||||
Net Income | 4,943 | 55,569 | 67,447 | 46,144 | 45,919 | 113,941 | 34,928 | ||||||||||||||
Less: | |||||||||||||||||||||
Discontinued Operations - Net of Tax | - | 873 | (1,796 | ) | (5,483 | ) | (5,063 | ) | (7,472 | ) | (12,919 | ) | |||||||||
Accounting Change - Net of Tax | - | - | - | (626 | ) | - | 67,471 | - | |||||||||||||
Net Income from Continuing Operations | 4,943 | 54,696 | 69,243 | 52,253 | 50,982 | 53,942 | 47,847 | ||||||||||||||
Add (Deduct): | |||||||||||||||||||||
(Income) Losses from Equity Investees | (16 | ) | (231 | ) | (210 | ) | (2,113 | ) | (7,121 | ) | 3,051 | 3,047 | |||||||||
Income Taxes | 3,871 | 34,105 | 43,936 | 37,623 | 37,186 | 16,531 | 26,432 | ||||||||||||||
Total Fixed Charges | 35,902 | 152,911 | 155,547 | 159,013 | 168,827 | 168,633 | 155,544 | ||||||||||||||
Total Earnings before Taxes and Fixed Charges | $ | 44,700 | $ | 241,481 | $ | 268,516 | $ | 246,776 | $ | 249,874 | $ | 242,157 | $ | 232,870 | |||||||
Ratio of Earnings to Fixed Charges | 1.245 | 1.579 | 1.726 | 1.552 | 1.480 | 1.436 | 1.497 |
(1) Excludes recognition of Allowance for Borrowed Funds Used During Construction.
(2) The information previously reported has been reclassified for the discontinued operations of Global Solar, Inc.