Exhibit 12.1
Sierra Pacific Power Company
Computation of ratio of earnings to fixed charges
(Dollars in millions)
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| Six-Month Periods |
| Years Ended December 31, |
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| 2016 |
| 2015 |
| 2015 |
| 2014 |
| 2013 |
| 2012 |
| 2011 |
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Earnings available for fixed charges: |
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Net income |
| $ | 27 |
| $ | 35 |
| $ | 83 |
| $ | 87 |
| $ | 55 |
| $ | 84 |
| $ | 60 |
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Add (deduct): |
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Income tax expense |
| 15 |
| 19 |
| 47 |
| 47 |
| 33 |
| 40 |
| 31 |
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Fixed charges |
| 30 |
| 30 |
| 61 |
| 63 |
| 62 |
| 66 |
| 70 |
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Capitalized interest (allowance for borrowed funds) |
| (1 | ) | (1 | ) | (2 | ) | (2 | ) | (2 | ) | (2 | ) | (2 | ) | |||||||
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| 44 |
| 48 |
| 106 |
| 108 |
| 93 |
| 104 |
| 99 |
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Total earnings available for fixed charges |
| $ | 71 |
| $ | 83 |
| $ | 189 |
| $ | 195 |
| $ | 148 |
| $ | 188 |
| $ | 159 |
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Fixed charges - |
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Interest expense |
| 30 |
| 30 |
| 61 |
| 63 |
| 62 |
| 66 |
| 70 |
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Total fixed charges |
| $ | 30 |
| $ | 30 |
| $ | 61 |
| $ | 63 |
| $ | 62 |
| $ | 66 |
| $ | 70 |
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Ratio of earnings to fixed charges |
| 2.4x |
| 2.8x |
| 3.1x |
| 3.1x |
| 2.4x |
| 2.8x |
| 2.3x |
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