Exhibit 12b
Tucson Electric Power Company
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, | ||||||||||||||||||||||
2009 | 2009 | 2008 | 2007 | 2006 | 2005 | 2004 | ||||||||||||||||||||||
- Thousands of Dollars - | ||||||||||||||||||||||||||||
Fixed Charges: | ||||||||||||||||||||||||||||
Interest on Long-Term Debt | $ | 9,191 | $ | 44,935 | $ | 47,456 | $ | 50,230 | $ | 51,422 | $ | 56,243 | $ | 69,904 | ||||||||||||||
Other Interest (1) | 349 | 711 | 1,367 | 4,538 | 6,436 | 2,597 | 1,263 | |||||||||||||||||||||
Interest on Capital Lease Obligations | 13,963 | 56,886 | 57,252 | 64,477 | 72,556 | 79,064 | 85,869 | |||||||||||||||||||||
Estimated Interest Portion of Rental Expense | 25 | 122 | 130 | 160 | 188 | 216 | 243 | |||||||||||||||||||||
Total Fixed Charges | 23,528 | 102,654 | 106,205 | 119,405 | 130,602 | 138,120 | 157,279 | |||||||||||||||||||||
Net Income (Loss) | $ | (553 | ) | $ | 12,671 | $ | 4,363 | $ | 53,456 | $ | 66,745 | $ | 48,267 | $ | 46,127 | |||||||||||||
Less: | ||||||||||||||||||||||||||||
Cumulative Effect of Accounting Change - Net of Tax | — | — | — | — | — | (626 | ) | — | ||||||||||||||||||||
Net Income (Loss) from Continuing Operations | (553 | ) | 12,671 | 4,363 | 53,456 | 66,745 | 48,893 | 46,127 | ||||||||||||||||||||
Add (Deduct): | ||||||||||||||||||||||||||||
(Income) Losses from Equity Investees (2) | — | — | (1,381 | ) | — | (320 | ) | (314 | ) | (131 | ) | |||||||||||||||||
Income Taxes | (313 | ) | 14,891 | 10,867 | 35,542 | 42,478 | 33,907 | 34,815 | ||||||||||||||||||||
Total Fixed Charges | 23,528 | 102,654 | 106,205 | 119,405 | 130,602 | 138,120 | 157,279 | |||||||||||||||||||||
Total Earnings before Taxes and Fixed Charges | 22,661 | 130,216 | $ | 120,054 | $ | 208,403 | $ | 239,505 | $ | 220,606 | $ | 238,090 | ||||||||||||||||
Ratio of Earnings to Fixed Charges | 0.963 | 1.268 | 1.130 | 1.745 | 1.834 | 1.597 | 1.514 | |||||||||||||||||||||
Dollar Amount of Shortfall | $ | 866 | ||||||||||||||||||||||||||
(1) | Excludes recognition of Allowance for Borrowed Funds Used During Construction. | |
(2) | Inncom International, Inc.(Income) Losses. |