TUCSON ELECTRIC POWER CO - FORM 8-K - EX-99.2 - SUPPLEMENTAL EARNINGS INFORMATION POSTED ON UNS ENERGY'S WEBSITE, DATED JULY 30,

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EX-99.1 - UNS ENERGY CORPORATION PRESS RELEASE, DATED JULY 30, 2012. - TUCSON ELECTRIC POWER CO	d383660dex991.htm
EX-99.3 - CONFERENCE CALL PRESENTATION SLIDES POSTED ON UNS ENERGY'S WEBSITE, DATED JULY 3 - TUCSON ELECTRIC POWER CO	d383660dex993.htm
8-K - FORM 8-K - TUCSON ELECTRIC POWER CO	d383660d8k.htm

Exhibit 99.2

UNS Energy Corporation

2^nd Quarter 2012 Supplemental Earnings Information

As of July 30, 2012


TABLE OF CONTENTS

Safe Harbor and Non-GAAP Measures			1
Variance Explanation			2
UNS Energy and TEP O&M			4
TEP Operating Statistics			5
TEP Margin Revenues			6
UNS Electric Operating Statistics			7
UNS Gas Operating Statistics			8
Basic & Diluted Shares Outstanding			9

SAFE HARBOR AND NON-GAAP MEASURES

This document contains forward-looking information that involves risks and uncertainties, which include, but are not limited to: state and federal regulatory and legislative decisions and actions; regional economic and market conditions which could affect customer growth and energy usage; weather variations affecting energy usage; the cost of debt and equity capital and access to capital markets; the performance of the stock market and changing interest rate environment, which affect the value of the company’s pension and other postretirement benefit plan assets and the related contribution requirements and expense; unexpected increases in O&M expense; resolution of pending litigation matters; changes in accounting standards; changes in critical accounting estimates; the ongoing restructuring of the electric industry; changes to long-term contracts; the cost of fuel and power supplies; performance of TEP’s generating plants; and other factors listed in UNS Energy’s Form 10-K and 10-Q filings with the Securities and Exchange Commission. The preceding factors may cause future results to differ materially from historical results or from outcomes currently expected by UNS Energy. The forecast assumptions and estimates below are not intended to be a full list of factors which could cause UNS Energy’s future results to differ from current expectations. Please refer to UNS Energy’s SEC filings for more information regarding risks and other uncertainties that could cause current expectations to differ from future results.

The Company’s press releases and other communications may include certain non-Generally Accepted Accounting Principles (GAAP) financial measures. A “non-GAAP financial measure” is defined as a numerical measure of a company’s financial performance, financial position or cash flows that excludes (or includes) amounts that are included in (or excluded from) the most directly comparable measure calculated and presented in accordance with GAAP in the Company’s financial statements.

Non-GAAP financial measures utilized by the Company include presentations of revenues, operating expenses, operating income and earnings (loss) per share. The Company uses these non-GAAP measures to evaluate the operations of the Company. Certain non-GAAP financial measures utilized by the Company exclude: the impact of non-recurring items: the effect of accounting changes or adjustments; expenses that are reimbursed by third parties; and other items. The Company’s management believes that these non-GAAP financial measures provide useful information to investors by removing the effect of variances in GAAP reported results of operations that are not indicative of fundamental changes in the earnings or cash flow capacity of the Company’s operations. Management also believes that the presentation of the non-GAAP financial measures is largely consistent with its past practice, as well as industry practice in general, and will enable investors and analysts to compare current non-GAAP measures with non-GAAP measures with respect to prior periods.

UNS ENERGY 2nd QUARTER EARNINGS VARIANCE EXPLANATION


2nd Quarter 2011 UNS Energy Net Income													$	28.6
	2nd Quarter						Change
TEP	2012			2011			Pre-Tax			After Tax
	-millions of dollars-
Utility Gross Margin Components:
Retail Margin Revenues*	$	146.3		$	139.0		$	7.3		$	4.4
L-T Wholesale Margin Revenues*		0.0			4.0			(4.0	)		(2.4	)
Transmission Revenues		3.9			4.4			(0.5	)		(0.3	)

Total		150.2			147.4			2.8			1.7
Other Income Sources:
Operating synergies—Springerville Units 3&4		5.8			6.4			(0.6	)		(0.4	)
Expenses:
Base O&M*		59.5			56.5			3.0			1.8
Depreciation		27.5			25.9			1.6			1.0
Amortization		10.0			8.2			1.8			1.1
Total Other Deductions		0.7			0.2			0.5			0.3
Total Interest Expense		21.3			22.0			(0.7	)		(0.4	)
Other Line Item Changes		0.9			0.6			0.3			0.2
Income Tax Expense		14.2			15.2			NM			(1.0	)

TEP Net Income (GAAP)	$	21.9		$	25.2			NM		($	3.3	)

Change in TEP Net Income														(3.3	)

Other Business Segments—After Tax Amounts
UNS Electric Net Income	$	4.5		$	3.9			NM		$	0.6
UNS Gas Net Income		0.0			0.4			NM			(0.4	)
Millennium Energy Holdings Net Income		0.4			0.6			NM			(0.2	)
Other and Consolidating Adjustments		(0.5	)		(1.5	)		NM			1.0

Total Net Income from Other Business Segments and Consolidating Adjustments	$	4.4		$	3.4			NM		$	1.0

Change in UNS Electric, UNS Gas, Millennium Energy Holdings and Other Net Income														1.0

2nd Quarter 2012 UNS Energy Net Income													$	26.3

*	Retail Margin Revenues, Long-Term Wholesale Margin and Base O&M are all non-GAAP measures. See pages 3 and 5 for a reconciliation of these non-GAAP measures.

UNS ENERGY YEAR-TO-DATE EARNINGS VARIANCE EXPLANATION


YTD June 30, 2011 UNS Energy Net Income													$	42.1
	YTD June 30						Change
TEP	2012			2011			Pre-Tax			After Tax
	-millions of dollars-
Utility Gross Margin Components:
Retail Margin Revenues*	$	251.7		$	247.8		$	3.9		$	2.4
L-T Wholesale Margin Revenues*		1.9			11.0			(9.1	)		(5.6	)
Transmission Revenues		7.8			8.3			(0.5	)		(0.3	)

Total		261.4			267.1			(5.7	)		(3.5	)
Other Income Sources:
Operating synergies—Springerville Units 3&4		11.5			12.2			(0.7	)		(0.4	)
Expenses:
Base O&M*		119.9			118.8			1.1			0.7
Depreciation		55.0			51.6			3.4			2.1
Amortization		19.6			16.5			3.1			1.9
Total Other Deductions (Income)		(0.3	)		(0.7	)		0.4			0.2
Total Interest Expense		43.6			43.4			0.2			0.1
Other Line Item Changes		2.4			2.1			0.3			0.2
Income Tax Expense		12.3			17.7			NM			(5.4	)

TEP Net Income (GAAP)	$	20.4		$	29.9			NM		($	9.5	)

Change in TEP Net Income														(9.5	)

Other Business Segments—After Tax Amounts
UNS Electric Net Income	$	7.3		$	7.5			NM		($	0.2	)
UNS Gas Net Income		5.4			6.5			NM			(1.1	)
Millennium Energy Holdings Net Income (Loss)		1.2			1.0			NM			0.2
Other and Consolidating Adjustments		(1.6	)		(2.8	)		NM			1.2

Total Net Income (Loss) from Other Business Segments and Consolidating Adjustments	$	12.3		$	12.2			NM		$	0.1

Change in UNS Electric, UNS Gas, Millennium Energy Holdings and Other Net Income														0.1

YTD June 30, 2012 UNS Energy Net Income													$	32.7

*	Retail Margin Revenues, Long-Term Wholesale Margin and Base O&M are all non-GAAP measures. See pages 3 and 5 for a reconciliation of these non-GAAP measures.

UNS ENERGY AND TEP O&M


UNS Energy	2nd Quarter						YTD June 30,
O&M Components	2012			2011			2012			2011
	-Millions of Dollars-						-Millions of Dollars-
UNS Energy Base O&M (Non-GAAP)	$	68.1		$	65.0		$	137.0		$	136.4
Reimbursed O&M Related to Springerville Units 3 and 4		13.3			16.1			26.6			32.3
O&M Related to Customer-funded Renewable Energy and DSM Programs		9.5			9.0			21.6			22.4

UNS Energy O&M (GAAP)	$	90.9		$	90.1		$	185.2		$	191.1


TEP	2nd Quarter						YTD June 30,
O&M Components	2012			2011			2012			2011
	-Millions of Dollars-						-Millions of Dollars-
TEP Base O&M (Non-GAAP)	$	59.5		$	56.5		$	119.9		$	118.8
O&M Included in Other Expense		(1.2	)		(1.8	)		(2.1	)		(3.7	)
Reimbursed O&M Related to Springerville Units 3 and 4		13.3			16.1			26.6			32.3
O&M Related to Customer-funded Renewable Energy and DSM Programs		7.1			7.3			16.7			19.2

TEP O&M (GAAP)	$	78.7		$	78.1		$	161.1		$	166.6

Base O&M, a non-GAAP financial measure, should not be considered as an alternative to Other O&M, which is determined in accordance with GAAP. We believe Base O&M provides useful information to investors because it represents the fundamental level of operating and maintenance expense related to our core utility business. Base O&M excludes expenses that are directly offset by revenues collected from customers and other third parties.

TEP—OPERATING STATISTICS


	Three Months Ended June 30,												Six Months Ended June 30,
	2012			2011			Incr (Decr)			% Change			2012			2011			Incr (Decr)			% Change
AVG. ELECTRIC CUSTOMERS
Residential		367,824			366,297			1,527			0.4	%		367,615			366,302			1,313			0.4	%
Commercial		36,226			36,021			205			0.6	%		36,212			35,969			243			0.7	%
Industrial		633			635			(2	)		-0.3	%		633			635			(2	)		-0.3	%
Mining		2			2			—			0.0	%		2			2			—			0.0	%
Other		62			62			—			0.0	%		62			62			—			0.0	%

Total		404,747			403,017			1,730			0.4	%		404,524			402,970			1,554			0.4	%

RETAIL SALES—MWH
Residential		1,022,359			943,138			79,221			8.4	%		1,752,698			1,692,117			60,581			3.6	%
Commercial		538,608			517,712			20,896			4.0	%		934,179			918,846			15,333			1.7	%
Industrial		543,750			531,746			12,004			2.3	%		1,012,703			1,021,516			(8,813	)		-0.9	%
Mining		269,814			271,914			(2,100	)		-0.8	%		542,794			536,904			5,890			1.1	%
Other		65,449			67,053			(1,604	)		-2.4	%		115,649			116,916			(1,267	)		-1.1	%

Total		2,439,980			2,331,563			108,417			4.6	%		4,358,023			4,286,299			71,724			1.7	%

RETAIL USAGE — KWH/CUSTOMER
Residential		2,779			2,575			204			7.9	%		4,768			4,619			149			3.2	%
Commercial		14,868			14,373			495			3.4	%		25,797			25,545			252			1.0	%
Industrial		859,005			837,395			21,610			2.6	%		1,599,847			1,608,687			(8,840	)		-0.5	%
Mining		134,907,000			135,957,000			(1,050,000	)		-0.8	%		271,397,000			268,452,000			2,945,000			1.1	%
Other		1,055,629			1,081,500			(25,871	)		-2.4	%		1,865,306			1,885,742			(20,436	)		-1.1	%

Total		6,028			5,785			243			4.2	%		10,773			10,637			136			1.3	%

WEATHER — COOLING DEGREE DAYS
Actual		566			390			176			45.1	%		566			390			176			45.1	%
10-Year Average		452			445									453			446
% Change Actual vs. 10-Year Avg.		25.2	%		-12.4	%								24.9	%		-12.6	%

ENERGY MARKET INDICATORS
Avg. Wholesale Power Prices
Palo Verde Index—$/MWh
On Peak	$	25.62		$	35.51		($	9.89	)		-27.9	%	$	25.31		$	33.87		($	8.56	)		-25.3	%
Off Peak	$	16.35		$	14.28		$	2.07			14.5	%	$	17.78		$	17.73		$	0.05			0.3	%

Avg. Natural Gas Prices
Permian Index—$/MMBtu	$	2.19		$	4.17		($	1.98	)		-47.5	%	$	2.29		$	4.14		($	1.85	)		-44.7	%

TEP—RETAIL AND WHOLESALE MARGIN REVENUES


	Three Months Ended June 30,										Six Months Ended June 30,
	2012		2011		Incr (Decr)			% Change			2012		2011		Incr (Decr)			% Change
RETAIL REVENUES—$ MILLIONS
Margin Revenues:
Residential	$	66.9	$	61.3		5.6			9.1	%	$	113.0	$	108.3		4.7			4.3	%
Commercial		44.2		42.5		1.7			4.0	%		74.9		73.5		1.4			1.9	%
Industrial		23.9		23.9		—			0.0	%		43.5		44.5		(1.0	)		-2.2	%
Mining		8.0		7.9		0.1			1.3	%		14.5		15.6		(1.1	)		-7.1	%
Other		3.3		3.4		(0.1	)		-2.9	%		5.8		5.9		(0.1	)		-1.7	%

Total	$	146.3	$	139.0	$	7.3			5.3	%	$	251.7	$	247.8	$	3.9			1.6	%
DSM / REST		9.6		9.1		0.5			5.5	%		21.4		24.2		(2.8	)		-11.6	%
Fuel and Purchased Power Revenues:
Recovered from Customers		91.9		83.6		8.3			9.9	%		141.0		133.4		7.6			5.7	%

Total Retail Revenues	$	247.8	$	231.7	$	16.1			6.9	%	$	414.1	$	405.4	$	8.7			2.1	%

RETAIL REVENUES—CENTS / KWH
Margin Revenues:
Residential		6.54		6.50		0.04			0.6	%		6.45		6.40		0.05			0.8	%
Commercial		8.21		8.21		—			0.0	%		8.02		8.00		0.02			0.3	%
Industrial		4.40		4.49		(0.09	)		-2.0	%		4.30		4.36		(0.06	)		-1.4	%
Mining		2.97		2.91		0.06			2.1	%		2.67		2.91		(0.24	)		-8.2	%
Other		5.04		5.07		(0.03	)		-0.6	%		5.02		5.05		(0.03	)		-0.6	%

Total		6.00		5.96		0.04			0.7	%		5.78		5.78		—			0.0	%
DSM / REST		0.39		0.39		0.00			0.0	%		0.49		0.56		(0.07	)		-12.5	%
Fuel and Purchased Power Revenues:
Recovered from Customers		3.77		3.59		0.18			5.0	%		3.24		3.11		0.13			4.2	%

Total Retail Revenues		10.16		9.94		0.22			2.2	%		9.51		9.45		0.06			0.6	%

LONG-TERM WHOLESALE MARGIN (Non-GAAP)—$ MILLIONS
Long-Term Wholesale Margin Revenues (Non-GAAP)		0.0		4.0	($	4.0	)		N/M			1.9		11.0	($	9.1	)		-82.7	%
Fuel and Purchased Power Expense Allocated to Long-Term Wholesale Revenues		4.9		6.4		(1.5	)		-23.4	%		9.7		12.9		(3.2	)		-24.8	%

Long-Term Wholesale Revenues	$	4.9	$	10.4	($	5.5	)		-52.9	%	$	11.6	$	23.9	($	12.3	)		-51.5	%
Wholesale Transmission Revenues		3.9		4.4		(0.5	)		-11.4	%		7.8		8.3		(0.5	)		-6.0	%
Short-term Wholesale Revenues		13.5		17.0		(3.5	)		-20.6	%		32.6		34.8		(2.2	)		-6.3	%

Electric Wholesale Sales (GAAP)		22.3		31.8	($	9.5	)		-29.9	%		52.0		67.0	($	15.0	)		-22.4	%

Retail Margin Revenues, a non-GAAP financial measure, should not be considered as an alternative to Net Electric Retail Sales, which is determined in accordance with GAAP. Retail Margin Revenues excludes: (i) revenues collected from retail customers that are directly offset by expenses recorded in other line items; and (ii) revenues collected from third parties that are unrelated to kWh sales to retail customers. We believe the change in Retail Margin Revenues between periods provides useful information to investors because it demonstrates the underlying revenue trend and performance of our core utility business. Retail Margin Revenues represents the portion of retail operating revenues available to cover the operating expenses of our core utility business.

Long-Term Wholesale Margin Revenues, a non-GAAP financial measure, should not be considered as an alternative to Electric Wholesale Sales, which is determined in accordance with GAAP. We believe the change in Long-Term Wholesale Margin Revenues between periods provides useful information to investors because it demonstrates the underlying profitability of TEP’s long-term wholesale sales contracts. Long-Term Wholesale Margin Revenues represents the portion of long-term wholesale revenues available to cover the operating expenses of our core utility business.

UNS ELECTRIC—OPERATING STATISTICS


	Three Months Ended June 30,												Six Months Ended June 30,
	2012			2011			Incr (Decr)			% Change			2012			2011			Incr (Decr)			% Change
AVG. ELECTRIC CUSTOMERS
Residential		80,795			80,555			240			0.3	%		80,792			80,551			241			0.3	%
Commercial		10,448			10,384			64			0.6	%		10,433			10,376			57			0.5	%
Industrial		21			22			(1	)		-4.5	%		21			22			(1	)		-4.5	%
Mining		2			2			—			0.0	%		2			2			—			0.0	%
Other		475			249			226			90.8	%		455			249			206			82.7	%

Total		91,741			91,212			529			0.6	%		91,703			91,200			503			0.6	%

RETAIL SALES—MWH
Residential		204,528			173,265			31,263			18.0	%		375,226			353,431			21,795			6.2	%
Commercial		167,466			158,792			8,674			5.5	%		298,526			289,854			8,672			3.0	%
Industrial		55,202			54,140			1,062			2.0	%		108,445			105,891			2,554			2.4	%
Mining		27,584			63,942			(36,358	)		-56.9	%		55,185			122,672			(67,487	)		-55.0	%
Other		378			372			6			1.6	%		808			848			(40	)		-4.7	%

Total		455,158			450,511			4,647			1.0	%		838,190			872,696			(34,506	)		-4.0	%

RETAIL USAGE—KWH/CUSTOMER
Residential		2,531			2,151			380			17.7	%		4,644			4,388			256			5.8	%
Commercial		16,029			15,292			737			4.8	%		28,614			27,935			679			2.4	%
Industrial		2,628,667			2,460,909			167,758			6.8	%		5,164,048			4,813,227			350,821			7.3	%
Mining		13,792,000			31,971,000			(18,179,000	)		-56.9	%		27,592,500			61,336,000			(33,743,500	)		-55.0	%
Other		796			1,494			(698	)		-46.7	%		1,776			3,406			(1,630	)		-47.9	%

Total		4,961			4,939			22			0.4	%		9,140			9,569			(429	)		-4.5	%

RETAIL REVENUES—MILLIONS
Margin Revenues:
Residential	$	7.9		$	6.5		$	1.4			21.5	%	$	14.5		$	13.0		$	1.5			11.5	%
Commercial		7.8			7.8			—			0.0	%		14.1			14.4			(0.3	)		-2.1	%
Industrial		2.3			2.3			—			0.0	%		4.6			4.6			—			0.0	%
Mining		1.7			1.6			0.1			6.3	%		3.4			3.2			0.2			6.3	%
Other		0.1			—			0.1			N/M			0.1			0.1			—			0.0	%

Total Margin Revenues	$	19.8		$	18.2			1.6			8.8	%	$	36.7		$	35.3			1.4			4.0	%
DSM / REST		2.7			1.5			1.2			80.0	%		5.6			2.9			2.7			93.1	%
Fuel Revenues:
Recovered from Customers		21.8			24.3			(2.5	)		-10.3	%		41.1			49.3			(8.2	)		-16.6	%

Total Retail Revenues	$	44.3		$	44.0			0.3			0.7	%	$	83.4		$	87.5			(4.1	)		-4.7	%

WEATHER—COOLING DEGREE DAYS
Actual		3,433			2,645			788			29.8	%		3,546			2,747			799			29.1	%
10-Year Average		2,877			2,854									2,993			2,965
% Change Actual vs. 10-Year Avg.		19.3	%		-7.3	%								18.5	%		-7.4	%

Retail Margin Revenues, a non-GAAP financial measure, should not be considered as an alternative to Total Retail Revenues, which is determined in accordance with GAAP. Retail Margin Revenues exclude revenues collected from retail customers that are directly offset by expenses recorded in other line items. We believe the change in Retail Margin Revenues between periods provides useful information to investors because it demonstrates the underlying revenue trend and performance of our core utility business. Retail Margin Revenues represents the portion of retail operating revenues available to cover the operating expenses of our core utility business.

UNS GAS —OPERATING STATISTICS


	Three Months Ended June 30,												Six Months Ended June 30,
	2012			2011			Incr (Decr)			% Change			2012			2011			Incr (Decr)			% Change
AVG. GAS CUSTOMERS
Residential		134,618			134,008			610			0.5	%		134,852			134,217			635			0.5	%
Commercial		11,287			11,226			61			0.5	%		11,327			11,266			61			0.5	%
Industrial		22			22			—			0.0	%		22			22			—			0.0	%
Other		1,123			1,120			3			0.3	%		1,122			1,113			9			0.8	%

Total		147,050			146,376			674			0.5	%		147,323			146,618			705			0.5	%

RETAIL SALES—THOUSANDS OF THERMS
Residential		8,621			10,211			(1,590	)		-15.6	%		39,378			42,981			(3,603	)		-8.4	%
Commercial		5,015			5,386			(371	)		-6.9	%		15,817			16,845			(1,028	)		-6.1	%
Industrial		462			496			(34	)		-6.9	%		1,075			1,236			(161	)		-13.0	%
Other		652			902			(250	)		-27.7	%		3,505			3,963			(458	)		-11.6	%

Total		14,750			16,995			(2,245	)		-13.2	%		59,775			65,025			(5,250	)		-8.1	%

RETAIL USAGE—THERMS/CUSTOMER
Residential		64			76			(12	)		-15.8	%		292			320			(28	)		-8.8	%
Commercial		444			480			(36	)		-7.5	%		1,396			1,495			(99	)		-6.6	%
Industrial		21,000			22,545			(1,545	)		-6.9	%		48,864			56,182			(7,318	)		-13.0	%
Other		581			805			(224	)		-27.8	%		3,124			3,561			(437	)		-12.3	%

Total		100			116			(16	)		-13.8	%		406			443			(37	)		-8.4	%

RETAIL REVENUES—MILLIONS
Margin Revenues:
Residential	$	6.9		$	7.3		($	0.4	)		-5.5	%	$	20.8		$	21.7		($	0.9	)		-4.1	%
Commercial		2.1			2.0			0.1			5.0	%		5.6			5.7			(0.1	)		-1.8	%
Industrial		—			—			—			—			—			—			—			—
Other		0.3			0.4			(0.1	)		-25.0	%		1.2			1.3			(0.1	)		-7.7	%

Total Margin Revenues	$	9.3		$	9.7		($	0.4	)		-4.1	%	$	27.6		$	28.7		($	1.1	)		-3.8	%
DSM Revenues		0.2			0.3			(0.1	)		-33.3	%		0.4			0.6			(0.2	)		-33.3	%
Transport/NSP Revenues		3.8			4.3			(0.5	)		-11.6	%		7.4			9.0			(1.6	)		-17.8	%
Fuel Revenues:
Recovered from Customers		8.2			11.4			(3.2	)		-28.1	%		36.7			44.8			(8.1	)		-18.1	%

Total Gas Revenues	$	21.5		$	25.7		($	4.2	)		-16.3	%	$	72.1		$	83.1		($	11.0	)		-13.2	%

WEATHER—HEATING DEGREE DAYS
Actual		2,239			3,215			(976	)		-30.4	%		13,502			15,224			(1,722	)		-11.3	%
10-Year Average		2,474			2,471									12,352			12,412
% Change Actual vs. 10-Year Avg.		-9.5	%		30.1	%								9.3	%		22.7	%

Retail Margin Revenues, a non-GAAP financial measure, should not be considered as an alternative to Total Gas Revenues, which is determined in accordance with GAAP. Retail Margin Revenues excludes revenues collected from retail customers that are directly offset by expenses recorded in other line items. We believe the change in Retail Margin Revenues between periods provides useful information to investors because it demonstrates the underlying revenue trend and performance of our core utility business. Retail Margin Revenues represents the portion of retail operating revenues available to cover the operating expenses of our core utility business.

UNS ENERGY BASIC AND DILUTED SHARES OUTSTANDING


	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2012		2011		2012		2011
	-Thousands of Dollars-				-Thousands of Dollars-
Numerator:
Net Income	$	26,273	$	28,604	$	32,749	$	42,076
Income from Assumed Conversion of Convertible Senior Notes		237		1,097		1,100		2,195

Adjusted Numerator	$	26,510	$	29,701	$	33,849	$	44,271

Denominator:
Weighted-Average Shares of Common Stock Outstanding:
Common Shares Issued		40,322		36,757		39,107		36,676
Participating Securities		—		66		—		71
Fully Vested Deferred Stock Units		149		127		144		122

Total Weighted-Average Shares of Common Stock Outstanding and Participating Securities—Basic		40,471		36,950		39,251		36,869
Effect of Dilutive Securities:
Convertible Senior Notes		909		4,267		2,125		4,254
Options and Stock Issuable Under Share-Based Compensation Plans		250		338		270		354

Total Shares—Diluted		41,630		41,555		41,646		41,477

The following table shows the number of stock options excluded from the diluted EPS computation because the stock option’s exercise price was greater than the average market price of the Common Stock:

Three Months Ended

Six Months Ended

June 30,

2012

2011

2012

2011

-Thousands of Shares-

Stock Options Excluded from the Diluted EPS Computation

101

158

101

163

TUCSON ELECTRIC POWER CO - FORM 8-K - EX-99.2 - SUPPLEMENTAL EARNINGS INFORMATION POSTED ON UNS ENERGY'S WEBSITE, DATED JULY 30, - July 30, 2012

Attached files

TUCSON ELECTRIC POWER CO Reports