Attached files
TEXAS-NEW MEXICO POWER COMPANY | Exhibit 12.3 |
Ratio of Earnings to Fixed Charges
(In thousands, except ratio)
Six Months Ended June 30, 2010 |
Year Ended December 31, | |||||||||||||||||
2009 | 2008 | 2007 | 2006 | 2005 | ||||||||||||||
Fixed charges, as defined by the Securities and Exchange Commission: |
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Interest expensed and capitalized |
$ | 14,515 | $ | 25,609 | $ | 17,861 | $ | 23,523 | $ | 27,374 | $ | 25,906 | ||||||
Amortization of debt premium, discount and expenses |
1,366 | 3,355 | 1,504 | 1,925 | 1,695 | 2,111 | ||||||||||||
Estimated interest factor of lease rental charges |
588 | 831 | 571 | 844 | 367 | 377 | ||||||||||||
Total Fixed Charges |
$ | 16,469 | $ | 29,795 | $ | 19,936 | $ | 26,292 | $ | 29,436 | $ | 28,394 | ||||||
Earnings, as defined by the Securities and Exchange Commission: |
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Earnings from continuing operations before income taxes |
$ | 9,490 | $ | 20,151 | $ | 2,335 | $ | 29,055 | $ | 17,905 | $ | 25,183 | ||||||
Fixed charges as above |
16,469 | 29,795 | 19,936 | 26,292 | 29,436 | 28,394 | ||||||||||||
Interest capitalized |
(59) | (1,144) | (1,025) | (332) | (209) | (200) | ||||||||||||
Earnings Available for Fixed Charges |
$ | 25,900 | $ | 48,802 | $ | 21,246 | $ | 55,015 | $ | 47,132 | $ | 53,377 | ||||||
Ratio of Earnings to Fixed Charges |
1.57 | 1.64 | 1.07 | 2.09 | 1.60 | 1.88 | ||||||||||||