Exhibit 12a
UniSource Energy Corporation
Computation of Ratio of Earnings to Fixed Charges
Computation of Ratio of Earnings to Fixed Charges
9 Months Ended | 12 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||
September 30, | September 30, | Dec. 31, | Dec. 31, | Dec. 31, | Dec. 31, | Dec. 31, | ||||||||||||||||||||||
2009 | 2009 | 2008 | 2007 | 2006 | 2005 | 2004 | ||||||||||||||||||||||
-Thousands of Dollars- | ||||||||||||||||||||||||||||
Fixed Charges: | ||||||||||||||||||||||||||||
Interest on Long-Term Debt | $ | 43,680 | $ | 60,305 | $ | 70,227 | $ | 73,095 | $ | 75,039 | $ | 76,762 | $ | 80,968 | ||||||||||||||
Other Interest (1) | 2,411 | 2,873 | 1,837 | 5,480 | 7,922 | 3,153 | 1,947 | |||||||||||||||||||||
Interest on Capital Lease Obligations | 40,125 | 54,427 | 57,272 | 64,499 | 72,586 | 79,098 | 85,912 | |||||||||||||||||||||
Estimated Interest Portion of Rental Expense | 86 | 133 | 188 | 258 | 326 | 391 | 453 | |||||||||||||||||||||
Total Fixed Charges | $ | 86,302 | $ | 117,738 | $ | 129,524 | $ | 143,332 | $ | 155,873 | $ | 159,404 | $ | 169,280 | ||||||||||||||
Net Income | $ | 93,839 | $ | 116,767 | $ | 14,021 | $ | 58,373 | $ | 67,447 | $ | 46,144 | $ | 45,919 | ||||||||||||||
Less: | ||||||||||||||||||||||||||||
Discontinued Operations — Net of Tax | — | — | — | — | (1,796 | ) | (5,483 | ) | (5,063 | ) | ||||||||||||||||||
Accounting Change — Net of Tax | — | — | — | — | — | (626 | ) | — | ||||||||||||||||||||
Net Income from Continuing Operations | 93,839 | 116,767 | 14,021 | 58,373 | 69,243 | 52,253 | 50,982 | |||||||||||||||||||||
Add (Deduct): | ||||||||||||||||||||||||||||
(Income) Losses from Equity Investees (2) | (2,471 | ) | (2,073 | ) | 713 | 340 | (210 | ) | (2,113 | ) | (7,121 | ) | ||||||||||||||||
Income Taxes | 58,110 | 76,191 | 16,976 | 39,079 | 43,936 | 37,623 | 37,186 | |||||||||||||||||||||
Total Fixed Charges | 86,302 | 117,738 | 129,524 | 143,332 | 155,873 | 159,404 | 169,280 | |||||||||||||||||||||
Total Earnings before Taxes and Fixed Charges | $ | 235,780 | $ | 308,623 | $ | 161,234 | $ | 241,124 | $ | 268,842 | $ | 247,167 | $ | 250,327 | ||||||||||||||
Ratio of Earnings to Fixed Charges | 2.732 | 2.621 | 1.245 | 1.682 | 1.725 | 1.551 | 1.479 |
(1) | Excludes recognition of Allowance for Borrowed Funds Used During Construction. | |
(2) | Includes Equity in Investment in Lease Equity. |