Attached files
file | filename |
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EX-31.6 - EXHIBIT 31.6 - PNM RESOURCES INC | pnm3312017ex316.htm |
EX-32.3 - EXHIBIT 32.3 - PNM RESOURCES INC | pnm3312017ex323.htm |
EX-32.2 - EXHIBIT 32.2 - PNM RESOURCES INC | pnm3312017ex322.htm |
EX-32.1 - EXHIBIT 32.1 - PNM RESOURCES INC | pnm3312017ex321.htm |
EX-31.5 - EXHIBIT 31.5 - PNM RESOURCES INC | pnm3312017ex315.htm |
EX-31.4 - EXHIBIT 31.4 - PNM RESOURCES INC | pnm3312017ex314.htm |
EX-31.3 - EXHIBIT 31.3 - PNM RESOURCES INC | pnm3312017ex313.htm |
EX-31.2 - EXHIBIT 31.2 - PNM RESOURCES INC | pnm3312017ex312.htm |
EX-31.1 - EXHIBIT 31.1 - PNM RESOURCES INC | pnm3312017ex311.htm |
EX-12.3 - EXHIBIT 12.3 - PNM RESOURCES INC | pnm3312017ex123.htm |
EX-12.1 - EXHIBIT 12.1 - PNM RESOURCES INC | pnm3312017ex121.htm |
EX-10.2 - EXHIBIT 10.2 - PNM RESOURCES INC | pnm3312017ex102.htm |
EX-10.1 - EXHIBIT 10.1 - PNM RESOURCES INC | pnm3312017ex101.htm |
10-Q - 10-Q - PNM RESOURCES INC | pnm331201710-q.htm |
Exhibit 12.2 | |||||||||||||||||||||||||
PUBLIC SERVICE COMPANY OF NEW MEXICO | |||||||||||||||||||||||||
Ratio of Earnings to Fixed Charges | |||||||||||||||||||||||||
(In thousands, except ratio) | |||||||||||||||||||||||||
Three Months Ended | Year Ended December 31, | ||||||||||||||||||||||||
March 31, 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | ||||||||||||||||||||
Fixed charges, as defined by the Securities and Exchange Commission: | |||||||||||||||||||||||||
Interest expensed and capitalized | $ | 21,551 | $ | 89,502 | $ | 84,695 | $ | 79,834 | $ | 79,769 | $ | 82,864 | |||||||||||||
Amortization of debt premium, discount and expenses | 541 | 2,312 | 1,978 | 1,944 | 1,879 | 1,818 | |||||||||||||||||||
Estimated interest factor of lease rental charges | 303 | 1,217 | 1,532 | 2,541 | 3,732 | 3,743 | |||||||||||||||||||
Total Fixed Charges | $ | 22,395 | $ | 93,031 | $ | 88,205 | $ | 84,319 | $ | 85,380 | $ | 88,425 | |||||||||||||
Earnings, as defined by the Securities and Exchange Commission: | |||||||||||||||||||||||||
Earnings (loss) from continuing operations before income taxes and non-controlling interest | $ | 27,818 | $ | 132,860 | $ | (13,082 | ) | $ | 154,086 | $ | 151,480 | $ | 156,314 | ||||||||||||
Fixed charges as above | 22,395 | 93,031 | 88,205 | 84,319 | 85,380 | 88,425 | |||||||||||||||||||
Non-controlling interest in earnings of Valencia | (3,452 | ) | (14,519 | ) | (14,910 | ) | (14,127 | ) | (14,521 | ) | (14,050 | ) | |||||||||||||
Interest capitalized | (1,456 | ) | (6,094 | ) | (8,530 | ) | (5,211 | ) | (4,420 | ) | (4,314 | ) | |||||||||||||
Earnings Available for Fixed Charges | $ | 45,305 | $ | 205,278 | $ | 51,683 | $ | 219,067 | $ | 217,919 | $ | 226,375 | |||||||||||||
Ratio of Earnings to Fixed Charges | 2.02 | 2.21 | 1 | 0.59 | 2 | 2.60 | 3 | 2.55 | 4 | 2.56 | |||||||||||||||
1 Earnings (loss) from continuing operations before income taxes and non-controlling interest for the year ended December 31, 2016 includes a pre-tax loss of $15.0 million due to the write-off of regulatory disallowances and restructuring costs. If that loss was excluded, the Ratio of Earnings to Fixed Charges would have been 2.37 for 2016. | |||||||||||||||||||||||||
2 The shortfall in earnings available for fixed charges to achieve a ratio of earnings to fixed charges of 1.00 amounted to $36.5 million for the year ended December 31, 2015. Earnings (loss) from continuing operations before income taxes includes a pre-tax loss of $167.5 million due to the write-off of regulatory disallowances and restructuring costs. If that loss was excluded, the Ratio of Earnings to Fixed Charges would have been 2.48 for 2015. | |||||||||||||||||||||||||
3 Earnings (loss) from continuing operations before income taxes and non-controlling interest for the year ended December 31, 2014 includes a pre-tax loss of $1.1 million due to the write-off of regulatory disallowances. If that loss was excluded, the Ratio of Earnings to Fixed Charges would have been 2.61 for 2014. | |||||||||||||||||||||||||
4 Earnings (loss) from continuing operations before income taxes and non-controlling interest for the year ended December 31, 2013 includes a pre-tax loss of $12.2 million due to the write-off of regulatory disallowances. If that loss was excluded, the Ratio of Earnings to Fixed Charges would have been 2.70 for 2013. | |||||||||||||||||||||||||