Exhibit 12b
Tucson Electric Power Company
Computation of Ratio of Earnings to Fixed Charges
12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2011 | Dec. 31, 2010* | Dec. 31, 2009* | Dec. 31, 2008* | Dec. 31, 2007* | Dec. 31, 2006* | |||||||||||||||||||
- Thousands of Dollars - | ||||||||||||||||||||||||
Fixed Charges: | ||||||||||||||||||||||||
Interest on Long-Term Debt | $ | 49,858 | $ | 42,378 | $ | 36,226 | $ | 47,456 | $ | 50,230 | $ | 51,422 | ||||||||||||
Other Interest (1) | 1,127 | 433 | 1,571 | 1,367 | 4,538 | 6,436 | ||||||||||||||||||
Interest on Capital Lease Obligations | 44,874 | 52,534 | 53,670 | 57,252 | 64,477 | 72,556 | ||||||||||||||||||
Estimated Interest Portion of Rental Expense | 795 | 72 | 106 | 130 | 160 | 188 | ||||||||||||||||||
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Total Fixed Charges | $ | 96,654 | $ | 95,417 | $ | 91,573 | $ | 106,205 | $ | 119,405 | $ | 130,602 | ||||||||||||
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Net Income | $ | 85,334 | $ | 108,260 | $ | 90,688 | $ | 7,206 | $ | 55,591 | $ | 67,306 | ||||||||||||
Add (Deduct): | ||||||||||||||||||||||||
(Income) Losses from Equity Investees | — | — | — | (1,381 | ) | — | (320 | ) | ||||||||||||||||
Income Taxes | 52,000 | 59,936 | 54,220 | 12,729 | 36,940 | 42,845 | ||||||||||||||||||
Total Fixed Charges | 96,654 | 95,417 | 91,573 | 106,205 | 119,405 | 130,602 | ||||||||||||||||||
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Total Earnings before Taxesand Fixed Charges | $ | 233,988 | $ | 263,613 | $ | 236,481 | $ | 124,759 | $ | 211,936 | $ | 240,433 | ||||||||||||
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Ratio of Earnings to Fixed Charges | 2.421 | 2.763 | 2.582 | 1.175 | 1.775 | 1.841 |
* | As revised. See Note 1 to the financial statements for more information. |
(1) | Excludes recognition of Allowance for Borrowed Funds Used During Construction. |