Exhibit 12a
UniSource Energy Corporation
Computation of Ratio of Earnings to Fixed Charges
Computation of Ratio of Earnings to Fixed Charges
12 Months Ended | ||||||||||||||||||||||||
Dec 31, | Dec. 31, | Dec. 31, | Dec. 31, | Dec. 31, | Dec. 31, | |||||||||||||||||||
2010 | 2009 | 2008 | 2007 | 2006 | 2005 | |||||||||||||||||||
- Thousands of Dollars - | ||||||||||||||||||||||||
Fixed Charges: | ||||||||||||||||||||||||
Interest on Long-Term Debt | $ | 65,020 | $ | 58,134 | $ | 70,227 | $ | 73,095 | $ | 75,039 | $ | 76,762 | ||||||||||||
Other Interest(1) | 1,651 | 3,468 | 1,837 | 5,480 | 7,922 | 3,153 | ||||||||||||||||||
Interest on Capital Lease Obligations | 52,540 | 53,682 | 57,272 | 64,499 | 72,586 | 79,098 | ||||||||||||||||||
Estimated Interest Portion of Rental Expense | 240 | 345 | 188 | 258 | 326 | 391 | ||||||||||||||||||
Total Fixed Charges | $ | 119,451 | $ | 115,629 | $ | 129,524 | $ | 143,332 | $ | 155,873 | $ | 159,404 | ||||||||||||
Net Income | $ | 111,477 | $ | 104,258 | $ | 14,021 | $ | 58,373 | $ | 67,447 | $ | 46,144 | ||||||||||||
Add: | ||||||||||||||||||||||||
Discontinued Operations — Net of Tax | — | — | — | — | 1,796 | 5,483 | ||||||||||||||||||
Cumulative Effect of Accounting Change — Net of Tax | — | — | — | — | — | 626 | ||||||||||||||||||
Net Income from Continuing Operations | 111,477 | 104,258 | 14,021 | 58,373 | 69,243 | 52,253 | ||||||||||||||||||
Add (Deduct): | ||||||||||||||||||||||||
(Income) Losses from Equity Investees | 5,570 | 1,834 | 713 | 340 | (210 | ) | (2,113 | ) | ||||||||||||||||
Income Taxes | 78,266 | 64,348 | 16,976 | 39,079 | 43,936 | 37,623 | ||||||||||||||||||
Total Fixed Charges | 119,451 | 115,629 | 129,524 | 143,332 | 155,873 | 159,404 | ||||||||||||||||||
Total Earnings before Taxes and Fixed Charges | $ | 314,764 | $ | 286,069 | $ | 161,234 | $ | 241,124 | $ | 268,842 | $ | 247,167 | ||||||||||||
Ratio of Earnings to Fixed Charges | 2.635 | 2.474 | 1.245 | 1.682 | 1.725 | 1.551 |
(1) | Excludes recognition of Allowance for Borrowed Funds Used During Construction. |