Exhibit 12(a)
UNS Energy Corporation
Computation of Ratio of Earnings to Fixed Charges
Nine Months Ended | Twelve Months Ended | Twelve Months Ended | ||||||||||||||||||||||||||
September 30, | September 30, | December 31, | December 31, | December 31, | December 31, | December 31, | ||||||||||||||||||||||
2012 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | ||||||||||||||||||||||
- Thousands of Dollars - | ||||||||||||||||||||||||||||
Fixed Charges: | ||||||||||||||||||||||||||||
Interest on Long-Term Debt | $ | 53,811 | $ | 72,788 | $ | 73,217 | $ | 65,020 | $ | 58,134 | $ | 70,227 | $ | 73,095 | ||||||||||||||
Other Interest(1) | 1,683 | 2,290 | 2,535 | 1,651 | 3,468 | 1,837 | 5,480 | |||||||||||||||||||||
Interest on Capital Lease Obligations | 27,419 | 38,725 | 44,874 | 52,540 | 53,682 | 57,272 | 64,499 | |||||||||||||||||||||
Estimated Interest Portion of Rental Expense | 617 | 848 | 926 | 240 | 345 | 188 | 258 | |||||||||||||||||||||
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Total Fixed Charges | $ | 83,530 | $ | 114,651 | $ | 121,552 | $ | 119,451 | $ | 115,629 | $ | 129,524 | $ | 143,332 | ||||||||||||||
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Net Income | $ | 83,414 | $ | 91,601 | $ | 109,975 | $ | 112,984 | $ | 105,901 | $ | 16,955 | $ | 60,712 | ||||||||||||||
Add: | ||||||||||||||||||||||||||||
Losses from Equity Investees | — | — | — | 5,570 | 1,834 | 713 | 340 | |||||||||||||||||||||
Income Tax Expense | 51,430 | 55,466 | 66,951 | 76,921 | 63,232 | 18,747 | 40,274 | |||||||||||||||||||||
Total Fixed Charges | 83,530 | 114,651 | 121,552 | 119,451 | 115,629 | 129,524 | 143,332 | |||||||||||||||||||||
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Total Earnings before Taxes and Fixed Charges | $ | 218,374 | $ | 261,718 | $ | 298,478 | $ | 314,926 | $ | 286,596 | $ | 165,939 | $ | 244,658 | ||||||||||||||
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Ratio of Earnings to Fixed Charges | 2.614 | 2.283 | 2.456 | 2.636 | 2.479 | 1.281 | 1.707 |
(1) | Excludes recognition of Allowance for Borrowed Funds Used During Construction. |