EX-12.(A) 2 exhibit_12a.htm COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES - UNS Computation of Ratio of Earnings to Fixed Charges - UNS
Exhibit 12a

UniSource Energy Corporation
Computation of Ratio of Earnings to Fixed Charges
 

   
12 Months Ended
  
   
Dec. 31,
 
Dec. 31,
 
Dec. 31,
 
Dec. 31,
 
Dec. 31,
  
   
2006
 
2005
 
2004
 
2003
 
2002
  
 
 - Thousands of Dollars -
  
Fixed Charges:
                      
  Interest on Long-Term Debt
 
$
75,039
  
$
76,762
  
$
80,968
  
$
80,844
  
$
65,620
  
  Other Interest (1)
    
7,922
   
3,153
   
1,947
   
3,709
   
2,123
 
  Interest on Capital Lease Obligations
    
72,586
   
79,098
   
85,912
   
84,080
   
87,801
 
Total Fixed Charges
    
155,547
   
159,013
   
168,827
   
168,633
   
155,544
 
                                 
Net Income
    
67,447
   
46,144
   
45,919
   
113,941
   
34,928
 
 
                                
Less:
                                
  Discontinued Operations - Net of Tax
    
(1,796
)
  
(5,483
)
  
(5,063
)
  
(7,472
)
  
(12,919
)
  Extraordinary Income & Accounting Change -
                                
    Net of Tax
    
-
   
(626
)
  
-
   
67,471
   
-
 
Net Income from Continuing Operations
    
69,243
   
52,253
   
50,982
   
53,942
   
47,847
 
                                 
Add (Deduct):
                                
  (Income) Losses from Equity Investees
   
(210
)
  
(2,113
)
  
(7,121
)
  
3,051
   
3,047
 
  Income Taxes
    
43,936
   
37,623
   
37,186
   
16,531
   
26,432
 
  Total Fixed Charges
    
155,547
   
159,013
   
168,827
   
168,633
   
155,544
 
                                 
Total Earnings before Taxes
                               
and Fixed Charges
  
$
268,516
  
$
246,776
  
$
249,874
  
$
242,157
  
$
232,870
  
                                 
                                 
Ratio of Earnings to Fixed Charges
    
1.726
   
1.552
   
1.480
   
1.436
   
1.497
 
 
 
(1)   Excludes recognition of Allowance for Borrowed Funds Used During Construction.