Attached files
| file | filename |
|---|---|
| 10-K - 10-K - Tri-State Generation & Transmission Association, Inc. | tris-20161231x10k.htm |
| EX-21.1 - EX-21.1 - Tri-State Generation & Transmission Association, Inc. | tris-20161231ex2114b324d.htm |
| EX-95 - EX-95 - Tri-State Generation & Transmission Association, Inc. | tris-20161231xex95.htm |
| EX-32.1 - EX-32.1 - Tri-State Generation & Transmission Association, Inc. | tris-20161231ex321549ef9.htm |
| EX-31.2 - EX-31.2 - Tri-State Generation & Transmission Association, Inc. | tris-20161231ex312d57dc4.htm |
| EX-32.2 - EX-32.2 - Tri-State Generation & Transmission Association, Inc. | tris-20161231ex32250f321.htm |
| EX-31.1 - EX-31.1 - Tri-State Generation & Transmission Association, Inc. | tris-20161231ex3115968e1.htm |
Exhibit 12.1
Tri‑State Generation and Transmission Association, Inc.
Computation of Ratio of Earnings to Fixed Charges
(dollars in thousands)
|
|
|
Years Ended December 31, |
|||||||||||||
|
|
|
2016 |
|
2015 |
|
2014 |
|
2013 |
|
2012 |
|||||
|
Computation of Ratio of Earnings to Fixed Charges |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Margins |
|
$ |
31,748 |
|
$ |
53,413 |
|
$ |
64,236 |
|
$ |
72,912 |
|
$ |
52,795 |
|
Less income from equity investees |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
Adjusted net margin |
|
$ |
31,748 |
|
$ |
53,413 |
|
$ |
64,236 |
|
$ |
72,912 |
|
$ |
52,795 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest expense |
|
$ |
156,554 |
|
$ |
154,746 |
|
$ |
155,546 |
|
$ |
161,754 |
|
|
166,636 |
|
Less: interest capitalized during period |
|
|
(13,560) |
|
|
(13,909) |
|
|
(14,330) |
|
|
(12,857) |
|
|
(15,238) |
|
Amortization of deferred debt expense |
|
|
1,883 |
|
|
1,733 |
|
|
1,141 |
|
|
566 |
|
|
507 |
|
Interest portion of rental expense |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
Earnings |
|
$ |
176,625 |
|
$ |
195,983 |
|
$ |
206,593 |
|
$ |
222,375 |
|
$ |
204,700 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest expense |
|
$ |
156,554 |
|
$ |
154,746 |
|
$ |
155,546 |
|
$ |
161,754 |
|
$ |
166,636 |
|
Amortization of deferred debt expense |
|
|
1,883 |
|
|
1,733 |
|
|
1,141 |
|
|
566 |
|
|
507 |
|
Interest portion of rental expense |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
Fixed Charges |
|
$ |
158,437 |
|
$ |
156,479 |
|
$ |
156,687 |
|
$ |
162,320 |
|
$ |
167,143 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Ratio of Earnings to Fixed Charges |
|
|
1.11 |
|
|
1.25 |
|
|
1.32 |
|
|
1.37 |
|
|
1.22 |