Attached files
Exhibit 12.4 | ||||||||||||||||||||||||
TEXAS-NEW MEXICO POWER COMPANY | ||||||||||||||||||||||||
Ratio of Earnings to Fixed Charges | ||||||||||||||||||||||||
(In thousands, except ratio) | ||||||||||||||||||||||||
Six Months Ended | Year Ended December 31, | |||||||||||||||||||||||
June 30, 2011 | 2010 | 2009 | 2008 | 2007 | 2006 | |||||||||||||||||||
Fixed charges, as defined by the Securities and Exchange Commission: | ||||||||||||||||||||||||
Interest expensed and capitalized | $ | 13,986 | $ | 28,632 | $ | 25,609 | $ | 17,861 | $ | 23,523 | $ | 27,374 | ||||||||||||
Amortization of debt premium, discount and expenses | 873 | 2,683 | 3,355 | 1,504 | 1,925 | 1,695 | ||||||||||||||||||
Estimated interest factor of lease rental charges | 660 | 1,246 | 831 | 571 | 844 | 367 | ||||||||||||||||||
Total Fixed Charges | $ | 15,519 | $ | 32,561 | $ | 29,795 | $ | 19,936 | $ | 26,292 | $ | 29,436 | ||||||||||||
Earnings, as defined by the Securities and Exchange Commission: | ||||||||||||||||||||||||
Earnings from continuing operations before income taxes | $ | 13,390 | $ | 26,026 | $ | 20,151 | $ | 2,335 | $ | 29,055 | $ | 17,905 | ||||||||||||
Fixed charges as above | 15,519 | 32,561 | 29,795 | 19,936 | 26,292 | 29,436 | ||||||||||||||||||
Interest capitalized | (255 | ) | (158 | ) | (1,144 | ) | (1,025 | ) | (332 | ) | (209 | ) | ||||||||||||
Earnings Available for Fixed Charges | $ | 28,654 | $ | 58,429 | $ | 48,802 | $ | 21,246 | $ | 55,015 | $ | 47,132 | ||||||||||||
Ratio of Earnings to Fixed Charges | 1.85 | 1 | 1.79 | 1.64 | 1.07 | 2.09 | 1.60 | |||||||||||||||||
1 Earnings from continuing operations before income taxes for the six months ended June 30, 2011 includes a pre-tax loss of $3.9 million due to the write-off of regulatory disallowances. If that loss were excluded, the Ratio of Earnings to Fixed Charges would have been 2.10 | ||||||||||||||||||||||||