PNM RESOURCES INC - FORM 10-Q - EX-12.3 - EXHIBIT 12.3 - April 28, 2017

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EX-31.6 - EXHIBIT 31.6 - PNM RESOURCES INCpnm3312017ex316.htm
EX-32.3 - EXHIBIT 32.3 - PNM RESOURCES INCpnm3312017ex323.htm
EX-32.2 - EXHIBIT 32.2 - PNM RESOURCES INCpnm3312017ex322.htm
EX-32.1 - EXHIBIT 32.1 - PNM RESOURCES INCpnm3312017ex321.htm
EX-31.5 - EXHIBIT 31.5 - PNM RESOURCES INCpnm3312017ex315.htm
EX-31.4 - EXHIBIT 31.4 - PNM RESOURCES INCpnm3312017ex314.htm
EX-31.3 - EXHIBIT 31.3 - PNM RESOURCES INCpnm3312017ex313.htm
EX-31.2 - EXHIBIT 31.2 - PNM RESOURCES INCpnm3312017ex312.htm
EX-31.1 - EXHIBIT 31.1 - PNM RESOURCES INCpnm3312017ex311.htm
EX-12.2 - EXHIBIT 12.2 - PNM RESOURCES INCpnm3312017ex122.htm
EX-12.1 - EXHIBIT 12.1 - PNM RESOURCES INCpnm3312017ex121.htm
EX-10.2 - EXHIBIT 10.2 - PNM RESOURCES INCpnm3312017ex102.htm
EX-10.1 - EXHIBIT 10.1 - PNM RESOURCES INCpnm3312017ex101.htm
10-Q - 10-Q - PNM RESOURCES INCpnm331201710-q.htm


Exhibit 12.3
 
 
TEXAS-NEW MEXICO POWER COMPANY
 
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
 
$
6,929

 
$
27,698

 
$
25,875

 
$
24,941

 
$
24,481

 
$
26,233

 
Amortization of debt premium, discount and expenses
 
307

 
1,039

 
1,100

 
1,195

 
1,159

 
1,493

 
Estimated interest factor of lease rental charges
 
300

 
1,249

 
1,229

 
1,311

 
1,241

 
956

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total Fixed Charges
 
$
7,536

 
$
29,986

 
$
28,204

 
$
27,447

 
$
26,881

 
$
28,682

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Earnings, as defined by the Securities and Exchange Commission:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Earnings from continuing operations before income taxes
 
$
11,293

 
$
65,508

 
$
66,088

 
$
60,330

 
$
46,711

 
$
42,099

 
Fixed charges as above
 
7,536

 
29,986

 
28,204

 
27,447

 
26,881

 
28,682

 
Interest capitalized
 
(156
)
 
(877
)
 
(593
)
 
(609
)
 
(361
)
 
(706
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Earnings Available for Fixed Charges
 
$
18,673

 
$
94,617

 
$
93,699

 
$
87,168

 
$
73,231

 
$
70,075

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Ratio of Earnings to Fixed Charges
 
2.48

 
3.16

 
3.32

 
3.18

 
2.72

 
2.44

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 



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