Exhibit 12b
Tucson Electric Power Company | |||||||
Computation of Ratio of Earnings to Fixed Charges | |||||||
6 Months Ended | 12 Months Ended | 12 Months Ended | |||||
Jun. 30, | Jun. 30, | Dec. 31, | Dec. 31, | Dec. 31, | Dec. 31, | Dec. 31, | |
2008 | 2008 | 2007 | 2006 | 2005 | 2004 | 2003 | |
- Thousands of Dollars - | |||||||
Fixed Charges: | |||||||
Interest on Long-Term Debt | $ 24,337 | $ 49,453 | $ 50,230 | $ 51,422 | $ 56,243 | $ 69,904 | $ 76,585 |
Other Interest (1) | 1,469 | 3,048 | 4,538 | 6,436 | 2,597 | 1,263 | 1,820 |
Interest on Capital Lease Obligations | 28,655 | 60,867 | 64,477 | 72,556 | 79,064 | 85,869 | 84,053 |
Total Fixed Charges | $ 54,461 | $ 113,368 | $ 119,245 | $130,414 | $137,904 | $157,036 | $162,458 |
Net (Loss) Income | (3,098) | 37,267 | 53,456 | 66,745 | 48,267 | 46,127 | 128,913 |
Less: | |||||||
Cumulative Effect of Accounting Change - | |||||||
Net of Tax | - | - | - | - | (626) | - | 67,471 |
Net Income/(Loss) from Continuing Operations | (3,098) | 37,267 | 53,456 | 66,745 | 48,893 | 46,127 | 61,442 |
Add (Deduct): | |||||||
(Income) Losses from Equity Investees (2) | 0 | 0 | - | (320) | (314) | (131) | (76) |
Income Taxes | (530) | 25,577 | 35,542 | 42,478 | 33,907 | 34,815 | 21,090 |
Total Fixed Charges | 54,461 | 113,368 | 119,245 | 130,414 | 137,904 | 157,036 | 162,458 |
Total Earnings before Taxes | |||||||
and Fixed Charges | $ 50,833 | $ 176,212 | $ 208,243 | $239,317 | $220,390 | $237,847 | $244,914 |
Ratio of Earnings to Fixed Charges | 0.933 | 1.554 | 1.746 | 1.835 | 1.598 | 1.515 | 1.508 |
(1) Excludes recognition of Allowance for Borrowed Funds Used During Construction. | |||||||
(2) Truepricing and Inncom (Income) Losses. |