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 | ||||||||||||||||||||||||||
March 31, | March 31, | Dec. 31, | Dec. 31, | Dec. 31, | Dec. 31, | Dec. 31, | ||||||||||||||||||||||
2010 | 2010 | 2009 | 2008 | 2007 | 2006 | 2005 | ||||||||||||||||||||||
-Thousands of Dollars- | ||||||||||||||||||||||||||||
Fixed Charges: | ||||||||||||||||||||||||||||
Interest on Long-Term Debt | $ | 15,240 | $ | 58,731 | $ | 58,134 | $ | 70,227 | $ | 73,095 | $ | 75,039 | $ | 76,762 | ||||||||||||||
Other Interest (1) | 886 | 3,884 | 3,468 | 1,837 | 5,480 | 7,922 | 3,153 | |||||||||||||||||||||
Interest on Capital Lease Obligations | 13,602 | 50,650 | 53,682 | 57,272 | 64,499 | 72,586 | 79,098 | |||||||||||||||||||||
Estimated Interest Portion of Rental Expense | 63 | 322 | 345 | 188 | 258 | 326 | 391 | |||||||||||||||||||||
Total Fixed Charges | $ | 29,791 | $ | 113,587 | $ | 115,629 | $ | 129,524 | $ | 143,332 | $ | 155,873 | $ | 159,404 | ||||||||||||||
Net Income | $ | 19,972 | $ | 119,311 | $ | 104,258 | $ | 14,021 | $ | 58,373 | $ | 67,447 | $ | 46,144 | ||||||||||||||
Add: | ||||||||||||||||||||||||||||
Discontinued Operations Loss — Net of Tax | — | — | — | — | — | 1,796 | 5,483 | |||||||||||||||||||||
Cumulative Effect of Accounting Change Loss — Net of Tax | — | — | — | — | — | — | 626 | |||||||||||||||||||||
Net Income from Continuing Operations | 19,972 | 119,311 | 104,258 | 14,021 | 58,373 | 69,243 | 52,253 | |||||||||||||||||||||
Add (Deduct): | ||||||||||||||||||||||||||||
(Income) Losses from Equity Investees | (76 | ) | 1,731 | 1,834 | 713 | 340 | (210 | ) | (2,113 | ) | ||||||||||||||||||
Income Taxes | 12,435 | 73,526 | 64,348 | 16,976 | 39,079 | 43,936 | 37,623 | |||||||||||||||||||||
Total Fixed Charges | 29,791 | 113,587 | 115,629 | 129,524 | 143,332 | 155,873 | 159,404 | |||||||||||||||||||||
Total Earnings before Taxes and Fixed Charges | $ | 62,122 | $ | 308,155 | $ | 286,069 | $ | 161,234 | $ | 241,124 | $ | 268,842 | $ | 247,167 | ||||||||||||||
Ratio of Earnings to Fixed Charges | 2.085 | 2.713 | 2.474 | 1.245 | 1.682 | 1.725 | 1.551 |
(1) | Excludes recognition of Allowance for Borrowed Funds Used During Construction. |