Attached files
| file | filename |
|---|---|
| EXCEL - IDEA: XBRL DOCUMENT - TUCSON ELECTRIC POWER CO | Financial_Report.xls |
| 10-Q - 10-Q - TUCSON ELECTRIC POWER CO | tep10q3312015.htm |
| EX-32 - EXHIBIT 32 - TUCSON ELECTRIC POWER CO | tepex323312015.htm |
| EX-31.B - EXHIBIT 31B - TUCSON ELECTRIC POWER CO | tepex31b3312015.htm |
| EX-31.A - EXHIBIT 31A - TUCSON ELECTRIC POWER CO | tepex31a3312015.htm |
Exhibit 12
Tucson Electric Power Company
Computation of Ratio of Earnings to Fixed Charges
3 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||
March 31, | March 31, | December 31, | December 31, | December 31, | December 31, | December 31, | |||||||||||||||||||||
2015 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | |||||||||||||||||||||
Thousands of Dollars | |||||||||||||||||||||||||||
Net Income | $ | 9,429 | $ | 102,595 | $ | 102,338 | $ | 101,342 | $ | 65,470 | $ | 85,334 | $ | 108,260 | |||||||||||||
Add: | |||||||||||||||||||||||||||
Income Tax Expense | 4,339 | 56,912 | 57,911 | 47,986 | 39,109 | 52,000 | 59,936 | ||||||||||||||||||||
Interest Expense, net(1) | 15,394 | 66,132 | 68,555 | 80,793 | 91,295 | 93,786 | 93,465 | ||||||||||||||||||||
Estimated Interest Portion of Rental Expense(2) | 526 | 2,017 | 1,691 | 842 | 611 | 795 | 72 | ||||||||||||||||||||
Total Earnings before Taxes and Fixed Charges | $ | 29,688 | $ | 227,656 | $ | 230,495 | $ | 230,963 | $ | 196,485 | $ | 231,915 | $ | 261,733 | |||||||||||||
Fixed Charges: | |||||||||||||||||||||||||||
Interest Expense (before deducting capitalized interest)(3) | $ | 18,740 | $ | 86,443 | $ | 88,340 | $ | 85,591 | $ | 93,077 | $ | 95,859 | $ | 95,345 | |||||||||||||
Estimated Interest Portion of Rental Expense | 526 | 2,017 | 1,691 | 842 | 611 | 795 | 72 | ||||||||||||||||||||
Total Fixed Charges | $ | 19,266 | $ | 88,460 | $ | 90,031 | $ | 86,433 | $ | 93,688 | $ | 96,654 | $ | 95,417 | |||||||||||||
Ratio of Earnings to Fixed Charges | 1.541 | 2.574 | 2.560 | 2.672 | 2.097 | 2.399 | 2.743 | ||||||||||||||||||||
(1) | Interest on uncertain tax positions is included in Interest Expense. |
(2) | The Estimated Interest Portion of Rental Expense is calculated by using our estimated incremental borrowing rate times the present value of projected operating lease payments. |
(3) | Excludes recognition of Allowance for Borrowed Funds Used During Construction. |