Attached files
| file | filename |
|---|---|
| EX-31.2 - NPC EXHIBIT 31.2 - NEVADA POWER CO | npc123114ex312.htm |
| EX-32.1 - NPC EXHIBIT 32.1 - NEVADA POWER CO | npc123114ex321.htm |
| EX-32.2 - NPC EXHIBIT 32.2 - NEVADA POWER CO | npc123114ex322.htm |
| EX-23.1 - NPC EXHIBIT 23.1 - NEVADA POWER CO | npc123114ex231.htm |
| EX-31.1 - NPC EXHIBIT 31.1 - NEVADA POWER CO | npc123114ex311.htm |
| EXCEL - IDEA: XBRL DOCUMENT - NEVADA POWER CO | Financial_Report.xls |
| 10-K - NPC 10-K - NEVADA POWER CO | npc123114form10-k.htm |
EXHIBIT 12.1
NEVADA POWER COMPANY
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(Dollars in millions)
Years Ended December 31, | ||||||||||||||||||||
2014 | 2013 | 2012 | 2011 | 2010 | ||||||||||||||||
Earnings available for fixed charges: | ||||||||||||||||||||
Net income | $ | 227 | $ | 145 | $ | 258 | $ | 133 | $ | 186 | ||||||||||
Add (deduct): | ||||||||||||||||||||
Income tax expense | 130 | 94 | 138 | 71 | 92 | |||||||||||||||
Fixed charges | 211 | 220 | 220 | 234 | 241 | |||||||||||||||
Capitalized interest (allowance for borrowed funds used during construction) | (1 | ) | (6 | ) | (5 | ) | (7 | ) | (21 | ) | ||||||||||
340 | 308 | 353 | 298 | 312 | ||||||||||||||||
Total earnings available for fixed charges | $ | 567 | $ | 453 | $ | 611 | $ | 431 | $ | 498 | ||||||||||
Fixed charges - | ||||||||||||||||||||
Interest expense(1) | 211 | 220 | 220 | 234 | 241 | |||||||||||||||
Total fixed charges | $ | 211 | $ | 220 | $ | 220 | $ | 234 | $ | 241 | ||||||||||
Ratio of earnings to fixed charges | 2.7x | 2.1x | 2.8x | 1.8x | 2.1x | |||||||||||||||
(1) | Includes amortization of premiums, discounts, and capitalized debt expense and interest component of rent expense. |
For the purpose of calculating the ratios of earnings to fixed charges, "Earnings" represents net income adjusted for income taxes plus fixed charges (excluding capitalized interest). "Fixed Charges" represent the aggregate of interest charges on long-term debt (whether expensed or capitalized) and the portion or rental expense deemed attributable to interest.