Attached files
| file | filename |
|---|---|
| EX-32 - EXHIBIT 32 - TUCSON ELECTRIC POWER CO | tepex326302015.htm |
| EX-31.B - EXHIBIT 31B - TUCSON ELECTRIC POWER CO | tepex31b6302015.htm |
| EX-4 - EXHIBIT 4 - TUCSON ELECTRIC POWER CO | tepex46302015.htm |
| EX-31.A - EXHIBIT 31A - TUCSON ELECTRIC POWER CO | tepex31a6302015.htm |
| 10-Q - 10-Q - TUCSON ELECTRIC POWER CO | tep10q6302015.htm |
Exhibit 12
Tucson Electric Power Company
Computation of Ratio of Earnings to Fixed Charges
Six Months Ended | Twelve Months Ended | ||||||||||||||||||||||||||
June 30, | June 30, | December 31, | December 31, | December 31, | December 31, | December 31, | |||||||||||||||||||||
(in thousands) | 2015 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | ||||||||||||||||||||
Net Income | $ | 47,255 | $ | 101,696 | $ | 102,338 | $ | 101,342 | $ | 65,470 | $ | 85,334 | $ | 108,260 | |||||||||||||
Add: | |||||||||||||||||||||||||||
Income Tax Expense | 24,766 | 54,597 | 57,911 | 47,986 | 39,109 | 52,000 | 59,936 | ||||||||||||||||||||
Interest Expense, net(1) | 31,796 | 63,798 | 68,555 | 80,793 | 91,295 | 93,786 | 93,465 | ||||||||||||||||||||
Estimated Interest Portion of Rental Expense(2) | 1,052 | 2,342 | 1,691 | 842 | 611 | 795 | 72 | ||||||||||||||||||||
Total Earnings before Taxes and Fixed Charges | $ | 104,869 | $ | 222,433 | $ | 230,495 | $ | 230,963 | $ | 196,485 | $ | 231,915 | $ | 261,733 | |||||||||||||
Fixed Charges: | |||||||||||||||||||||||||||
Interest Expense (before deducting capitalized interest)(3) | $ | 35,884 | $ | 79,163 | $ | 88,340 | $ | 85,591 | $ | 93,077 | $ | 95,859 | $ | 95,345 | |||||||||||||
Estimated Interest Portion of Rental Expense | 1,052 | 2,342 | 1,691 | 842 | 611 | 795 | 72 | ||||||||||||||||||||
Total Fixed Charges | $ | 36,936 | $ | 81,505 | $ | 90,031 | $ | 86,433 | $ | 93,688 | $ | 96,654 | $ | 95,417 | |||||||||||||
Ratio of Earnings to Fixed Charges | 2.839 | 2.729 | 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. |