Attached files
| file | filename |
|---|---|
| 10-K - 10-K - Tri-State Generation & Transmission Association, Inc. | tris-20171231x10k.htm |
| EX-31.1 - EX-31.1 - Tri-State Generation & Transmission Association, Inc. | tris-20171231ex3117f789e.htm |
| EX-32.2 - EX-32.2 - Tri-State Generation & Transmission Association, Inc. | tris-20171231ex322892ca4.htm |
| EX-32.1 - EX-32.1 - Tri-State Generation & Transmission Association, Inc. | tris-20171231ex3210218dd.htm |
| EX-31.2 - EX-31.2 - Tri-State Generation & Transmission Association, Inc. | tris-20171231ex3123184e6.htm |
| EX-21.1 - EX-21.1 - Tri-State Generation & Transmission Association, Inc. | tris-20171231ex211ecfa10.htm |
| EX-95 - EX-95 - Tri-State Generation & Transmission Association, Inc. | tris-20171231xex95.htm |
| EX-4.1.2 - EX-4.1.2 - Tri-State Generation & Transmission Association, Inc. | tris-20171231ex41257b853.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, |
|||||||||||||
|
|
|
2017 |
|
2016 |
|
2015 |
|
2014 |
|
2013 |
|||||
|
Computation of Ratio of Earnings to Fixed Charges |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Margins |
|
$ |
61,656 |
|
$ |
31,748 |
|
$ |
53,413 |
|
$ |
64,236 |
|
$ |
72,912 |
|
Less income from equity investees |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
Adjusted net margin |
|
$ |
61,656 |
|
$ |
31,748 |
|
$ |
53,413 |
|
$ |
64,236 |
|
$ |
72,912 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest expense |
|
$ |
158,195 |
|
$ |
156,554 |
|
$ |
154,746 |
|
$ |
155,546 |
|
|
161,754 |
|
Less: interest capitalized during period |
|
|
(11,021) |
|
|
(13,560) |
|
|
(13,909) |
|
|
(14,330) |
|
|
(12,857) |
|
Amortization of deferred debt expense |
|
|
434 |
|
|
1,883 |
|
|
1,733 |
|
|
1,141 |
|
|
566 |
|
Interest portion of rental expense |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
Earnings |
|
$ |
209,264 |
|
$ |
176,625 |
|
$ |
195,983 |
|
$ |
206,593 |
|
$ |
222,375 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest expense |
|
$ |
158,195 |
|
$ |
156,554 |
|
$ |
154,746 |
|
$ |
155,546 |
|
$ |
161,754 |
|
Amortization of deferred debt expense |
|
|
434 |
|
|
1,883 |
|
|
1,733 |
|
|
1,141 |
|
|
566 |
|
Interest portion of rental expense |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
Fixed Charges |
|
$ |
158,629 |
|
$ |
158,437 |
|
$ |
156,479 |
|
$ |
156,687 |
|
$ |
162,320 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Ratio of Earnings to Fixed Charges |
|
|
1.32 |
|
|
1.11 |
|
|
1.25 |
|
|
1.32 |
|
|
1.37 |