Exhibit 12(b)
TUCSON ELECTRIC POWER COMPANY
Computation of Ratio of Earnings to Fixed Charges
3 Months 12 Months | 12 Months Ended
Ended Ended |
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Jun. 30 Jun. 30 | Dec. 31, Dec. 31, Dec. 31, Dec. 31, Dec. 31,
2005 2005 | 2004 2003 2002 2001 2000
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| - Thousands of Dollars -
FIXED CHARGES: |
Interest on Long-Term Debt $ 31,437 $ 65,543 | $ 71,743 $ 76,585 $ 65,620 $ 68,678 $ 75,076
Other Interest (1) 1,217 2,078 | 1,414 1,820 273 441 211
Interest on Capital Lease Obligations 39,129 84,912 | 85,869 84,053 87,783 90,506 92,815
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TOTAL FIXED CHARGES 71,783 152,533 | 159,026 162,458 153,676 159,625 168,102
|
NET INCOME 7,458 34,773 | 46,127 128,913 55,390 77,778 52,762
|
LESS: |
Extraordinary Income & Accounting Change - |
Net of Tax - - | - 67,471 - 470 -
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NET INCOME FROM CONTINUING OPERATIONS 7,458 34,773 | 46,127 61,442 55,390 77,308 52,762
|
ADD (DEDUCT): |
(Income) Losses from Equity Investees (2) (30) (119)| (131) (76) 17 700 1,543
Income Taxes 6,789 24,690 | 34,815 21,090 36,434 57,545 27,610
Total Fixed Charges 71,783 152,533 | 159,026 162,458 153,676 159,625 168,102
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|
TOTAL EARNINGS BEFORE TAXES |
AND FIXED CHARGES $ 86,000 $211,877 | $239,837 $244,914 $245,517 $295,178 $250,017
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|
RATIO OF EARNINGS TO FIXED CHARGES 1.198 1.389 | 1.508 1.508 1.598 1.849 1.487
<FN>
(1) Excludes recognition of Allowance for Borrowed Funds Used During
Construction.
(2) Truepricing and Inncom (income) losses.
</FN>