PNM RESOURCES INC - FORM 10-Q - EX-12.3 - EXHIBIT 12.3 - October 27, 2017

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EX-31.3 - EXHIBIT 31.3 - PNM RESOURCES INCpnm9302017ex313.htm
EX-32.3 - EXHIBIT 32.3 - PNM RESOURCES INCpnm9302017ex323.htm
EX-32.2 - EXHIBIT 32.2 - PNM RESOURCES INCpnm9302017ex322.htm
EX-32.1 - EXHIBIT 32.1 - PNM RESOURCES INCpnm9302017ex321.htm
EX-31.6 - EXHIBIT 31.6 - PNM RESOURCES INCpnm9302017ex316.htm
EX-31.5 - EXHIBIT 31.5 - PNM RESOURCES INCpnm9302017ex315.htm
EX-31.4 - EXHIBIT 31.4 - PNM RESOURCES INCpnm9302017ex314.htm
EX-31.2 - EXHIBIT 31.2 - PNM RESOURCES INCpnm9302017ex312.htm
EX-31.1 - EXHIBIT 31.1 - PNM RESOURCES INCpnm9302017ex311.htm
EX-12.2 - EXHIBIT 12.2 - PNM RESOURCES INCpnm9302017ex122.htm
EX-12.1 - EXHIBIT 12.1 - PNM RESOURCES INCpnm9302017ex121.htm
EX-10.1 - EXHIBIT 10.1 - PNM RESOURCES INCpnm9302017ex101.htm
10-Q - 10-Q - PNM RESOURCES INCpnm930201710-q.htm


Exhibit 12.3
 
 
TEXAS-NEW MEXICO POWER COMPANY
 
Ratio of Earnings to Fixed Charges
 
(In thousands, except ratio)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Nine Months Ended
 
Year Ended December 31,
 
 
 
September 30, 2017
 
2016
 
2015
 
2014
 
2013
 
2012
 
Fixed charges, as defined by the Securities and Exchange Commission:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Interest expensed and capitalized
 
$
21,323

 
$
27,698

 
$
25,875

 
$
24,941

 
$
24,481

 
$
26,233

 
Amortization of debt premium, discount and expenses
 
936

 
1,039

 
1,100

 
1,195

 
1,159

 
1,493

 
Estimated interest factor of lease rental charges
 
893

 
1,249

 
1,229

 
1,311

 
1,241

 
956

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total Fixed Charges
 
$
23,152

 
$
29,986

 
$
28,204

 
$
27,447

 
$
26,881

 
$
28,682

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Earnings, as defined by the Securities and Exchange Commission:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Earnings from continuing operations before income taxes
 
$
53,499

 
$
65,508

 
$
66,088

 
$
60,330

 
$
46,711

 
$
42,099

 
Fixed charges as above
 
23,152

 
29,986

 
28,204

 
27,447

 
26,881

 
28,682

 
Interest capitalized
 
(613
)
 
(877
)
 
(593
)
 
(609
)
 
(361
)
 
(706
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Earnings Available for Fixed Charges
 
$
76,038

 
$
94,617

 
$
93,699

 
$
87,168

 
$
73,231

 
$
70,075

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Ratio of Earnings to Fixed Charges
 
3.28

 
3.16

 
3.32

 
3.18

 
2.72

 
2.44

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 



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