Exhibit 12b
Tucson Electric Power Company
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, | ||||||||||||||||||||||
2010 | 2010 | 2009 | 2008 | 2007 | 2006 | 2005 | ||||||||||||||||||||||
- Thousands of Dollars - | ||||||||||||||||||||||||||||
Fixed Charges: | ||||||||||||||||||||||||||||
Interest on Long-Term Debt | $ | 30,255 | $ | 39,248 | $ | 36,226 | $ | 47,456 | $ | 50,230 | $ | 51,422 | $ | 56,243 | ||||||||||||||
Other Interest (1) | (434 | ) | 34 | 1,571 | 1,367 | 4,538 | 6,436 | 2,597 | ||||||||||||||||||||
Interest on Capital Lease Obligations | 39,537 | 53,378 | 53,670 | 57,252 | 64,477 | 72,556 | 79,064 | |||||||||||||||||||||
Estimated Interest Portion of Rental Expense | 41 | 67 | 106 | 130 | 160 | 188 | 216 | |||||||||||||||||||||
Total Fixed Charges | $ | 69,399 | $ | 92,727 | $ | 91,573 | $ | 106,205 | $ | 119,405 | $ | 130,602 | $ | 138,120 | ||||||||||||||
Net Income | $ | 96,979 | $ | 104,998 | $ | 89,248 | $ | 4,363 | $ | 53,456 | $ | 66,745 | $ | 48,267 | ||||||||||||||
Add: | ||||||||||||||||||||||||||||
Cumulative Effect of Accounting Change Loss — Net of Tax | — | — | — | — | — | — | 626 | |||||||||||||||||||||
Net Income from Continuing Operations | 96,979 | 104,998 | 89,248 | 4,363 | 53,456 | 66,745 | 48,893 | |||||||||||||||||||||
Add (Deduct): | ||||||||||||||||||||||||||||
(Income) Losses from Equity Investees (2) | — | — | — | (1,381 | ) | — | (320 | ) | (314 | ) | ||||||||||||||||||
Income Taxes | 59,514 | 64,118 | 55,130 | 10,867 | 35,542 | 42,478 | 33,907 | |||||||||||||||||||||
Total Fixed Charges | 69,399 | 92,727 | 91,573 | 106,205 | 119,405 | 130,602 | 138,120 | |||||||||||||||||||||
Total Earnings before Taxes and Fixed Charges | $ | 225,892 | $ | 261,843 | $ | 235,951 | $ | 120,054 | $ | 208,403 | $ | 239,505 | $ | 220,606 | ||||||||||||||
Ratio of Earnings to Fixed Charges | 3.255 | 2.824 | 2.577 | 1.130 | 1.745 | 1.834 | 1.597 |
(1) | Excludes recognition of Allowance for Borrowed Funds Used During Construction. | |
(2) | Inncom International, Inc.(Income) Losses. |