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(2) | ||||||||||||||||||||||||||
Sep. 30, | Sep. 30, | Dec. 31, | Dec. 31, | Dec. 31, | Dec. 31, | Dec. 31, | ||||||||||||||||||||||
2008 | 2008 | 2007 | 2006 | 2005 | 2004 | 2003 | ||||||||||||||||||||||
- Thousands of Dollars - | ||||||||||||||||||||||||||||
Fixed Charges: | ||||||||||||||||||||||||||||
Interest on Long-Term Debt | $ | 53,603 | $ | 71,965 | $ | 73,095 | $ | 75,039 | $ | 76,762 | $ | 80,968 | $ | 80,844 | ||||||||||||||
Other Interest (1) | 1,375 | 2,088 | 5,480 | 7,922 | 3,153 | 1,947 | 3,709 | |||||||||||||||||||||
Interest on Capital Lease Obligations | 42,969 | 59,079 | 64,499 | 72,586 | 79,098 | 85,912 | 84,080 | |||||||||||||||||||||
Total Fixed Charges | $ | 97,947 | $ | 133,132 | $ | 143,074 | $ | 155,547 | $ | 159,013 | $ | 168,827 | $ | 168,633 | ||||||||||||||
Net Income (Loss) | $ | (8,906 | ) | $ | 7,301 | $ | 58,373 | $ | 67,447 | $ | 46,144 | $ | 45,919 | $ | 113,941 | |||||||||||||
Less: | ||||||||||||||||||||||||||||
Discontinued Operations — Net of Tax | — | — | — | (1,796 | ) | (5,483 | ) | (5,063 | ) | (7,472 | ) | |||||||||||||||||
Accounting Change — Net of Tax | — | — | — | — | (626 | ) | — | 67,471 | ||||||||||||||||||||
Net Income/(Loss) from Continuing Operations | (8,906 | ) | 7,301 | 58,373 | 69,243 | 52,253 | 50,982 | 53,942 | ||||||||||||||||||||
Add (Deduct): | ||||||||||||||||||||||||||||
(Income) Losses from Equity Investees (2) | 315 | 458 | 340 | (210 | ) | (2,113 | ) | (7,121 | ) | 3,051 | ||||||||||||||||||
Income Taxes | (1,106 | ) | 10,296 | 39,079 | 43,936 | 37,623 | 37,186 | 16,531 | ||||||||||||||||||||
Total Fixed Charges | 97,947 | 133,132 | 143,074 | 155,547 | 159,013 | 168,827 | 168,633 | |||||||||||||||||||||
Total Earnings before Taxes and Fixed Charges | $ | 88,250 | $ | 151,187 | $ | 240,866 | $ | 268,516 | $ | 246,776 | $ | 249,874 | $ | 242,157 | ||||||||||||||
Ratio of Earnings to Fixed Charges | 0.901 | 1.136 | 1.684 | 1.726 | 1.552 | 1.480 | 1.436 |
(1) | Excludes recognition of Allowance for Borrowed Funds Used During Construction. | |
(2) | The information previously reported has been reclassified for the discontinued operations of Global Solar, Inc. |