Attached files
file | filename |
---|---|
8-K - 8-K - BLACK HILLS CORP /SD/ | a13-24110_48k.htm |
EX-4 - EX-4 - BLACK HILLS CORP /SD/ | a13-24110_4ex4.htm |
EX-1 - EX-1 - BLACK HILLS CORP /SD/ | a13-24110_4ex1.htm |
EX-99 - EX-99 - BLACK HILLS CORP /SD/ | a13-24110_4ex99.htm |
EX-5.1 - EX-5.1 - BLACK HILLS CORP /SD/ | a13-24110_4ex5d1.htm |
EX-5.2 - EX-5.2 - BLACK HILLS CORP /SD/ | a13-24110_4ex5d2.htm |
Exhibit 12
BLACK HILLS CORPORATION
|
|
|
|
|
|
|
|
Nine Months Ended |
| ||||||||
|
|
|
|
Years Ended December 31, |
|
September 30, |
| ||||||||||
|
|
2010 |
|
2011 |
|
2012 |
|
2013 |
|
2012 |
| ||||||
Ratio = |
Earnings / Fixed Charges |
|
|
|
|
|
|
|
|
|
|
| |||||
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Earnings as defined by Regulation S-K |
|
|
|
|
|
|
|
|
|
|
| ||||||
Income (loss) from continuing operations |
|
$ |
63,141 |
|
$ |
40,365 |
|
$ |
88,505 |
|
$ |
96,839 |
|
$ |
57,571 |
| |
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Add |
Income Taxes |
|
22,169 |
|
18,224 |
|
48,400 |
|
50,527 |
|
30,057 |
| |||||
|
(Income) loss from equity investee |
|
(1,559 |
) |
(1,121 |
) |
(10 |
) |
86 |
|
12 |
| |||||
(A) |
Income (loss) from continuing ops before equity in earnings of subsidiaries and income tax |
|
$ |
83,751 |
|
$ |
57,468 |
|
$ |
136,895 |
|
$ |
147,452 |
|
$ |
87,640 |
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
Plus |
|
|
|
|
|
|
|
|
|
|
|
| |||||
(B) |
Fixed Charges as Defined |
|
$ |
107,824 |
|
$ |
118,649 |
|
$ |
120,011 |
|
$ |
73,214 |
|
$ |
86,943 |
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
(D) |
Distributed income of equity investees |
|
$ |
2,444 |
|
$ |
2,197 |
|
$ |
261 |
|
$ |
|
|
$ |
226 |
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
Less |
|
|
|
|
|
|
|
|
|
|
|
| |||||
(E) |
Interest capitalized |
|
$ |
(4,381 |
) |
$ |
(11,260 |
) |
$ |
(682 |
) |
$ |
(811 |
) |
$ |
(467 |
) |
|
Preference secuirty dividend requirements of consolidated sub |
|
|
|
|
|
|
|
|
|
|
| |||||
|
Minority interest in pre-tax income of subs |
|
|
|
|
|
|
|
|
|
|
| |||||
|
Total Adjusted Earnings |
|
$ |
189,638 |
|
$ |
167,054 |
|
$ |
256,485 |
|
$ |
219,855 |
|
$ |
174,342 |
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Fixed Charges as defined in Regulation S-K |
|
|
|
|
|
|
|
|
|
|
| ||||||
|
Interest expensed per SEC reports (includes amort of deferred financing costs) |
|
$ |
101,295 |
|
$ |
105,424 |
|
$ |
117,072 |
|
$ |
70,070 |
|
$ |
84,683 |
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
|
Interest capitalized |
|
4,381 |
|
11,260 |
|
682 |
|
811 |
|
467 |
| |||||
|
Total Interest per 10K / 10Q |
|
$ |
105,676 |
|
$ |
116,684 |
|
$ |
117,754 |
|
$ |
70,881 |
|
$ |
85,151 |
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
|
Estimate of interest within rental expense |
|
2,148 |
|
1,965 |
|
2,257 |
|
2,333 |
|
1,792 |
| |||||
|
Subtotal |
|
$ |
107,824 |
|
$ |
118,649 |
|
$ |
120,011 |
|
$ |
73,214 |
|
$ |
86,943 |
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
|
Fixed Charges as Defined |
|
$ |
107,824 |
|
$ |
118,649 |
|
$ |
120,011 |
|
$ |
73,214 |
|
$ |
86,943 |
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
|
Ratio of Earnings to Fixed Charges |
|
1.76 |
|
1.41 |
|
2.14 |
|
3.00 |
|
2.01 |
| |||||
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
|
Ratio of Earnings to Fixed Charges and Preferred Stock Dividends |
|
1.76 |
|
1.41 |
|
2.14 |
|
3.00 |
|
2.01 |
|