EX-12.(A) 2 exh_12a.htm COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES - UNISOURCE ENERGY Computation of Ratio of Earnings to Fixed Charges - UniSource Energy
 
Exhibit 12A
 
UniSource Energy Corporation
Computation of Ratio of Earnings to Fixed Charges

 
 
3 Months
Ended
   
12 Months
Ended
 
12 Months Ended (2)
 
 
Mar. 31
   
Mar. 31
   
Dec. 31,
   
Dec. 31,
   
Dec. 31,
   
Dec. 31,
   
Dec. 31,
 
   
2007
   
2007
   
2006
   
2005
   
2004
   
2003
   
2002
 
 
             
- Thousands of Dollars -
 
Fixed Charges:
                                         
Interest on Long-Term Debt
$
17,989
 
$
74,343
 
$
75,039
 
$
76,762
 
$
80,968
 
$
80,844
 
$
65,620
 
Other Interest (1)
 
1,761
   
8,377
   
7,922
   
3,153
   
1,947
   
3,709
   
2,123
 
Interest on Capital Lease Obligations
 
16,152
   
70,191
   
72,586
   
79,098
   
85,912
   
84,080
   
87,801
 
Total Fixed Charges
 
35,902
   
152,911
   
155,547
   
159,013
   
168,827
   
168,633
   
155,544
 
                                           
Net Income
 
4,943
   
55,569
   
67,447
   
46,144
   
45,919
   
113,941
   
34,928
 
 
                                         
Less:
                                         
Discontinued Operations - Net of Tax
 
-
   
873
   
(1,796
)
 
(5,483
)
 
(5,063
)
 
(7,472
)
 
(12,919
)
Accounting Change - Net of Tax
 
-
   
-
   
-
   
(626
)
 
-
   
67,471
   
-
 
Net Income from Continuing Operations
 
4,943
   
54,696
   
69,243
   
52,253
   
50,982
   
53,942
   
47,847
 
                                           
Add (Deduct):
                                         
(Income) Losses from Equity Investees
 
(16
)
 
(231
)
 
(210
)
 
(2,113
)
 
(7,121
)
 
3,051
   
3,047
 
Income Taxes
 
3,871
   
34,105
   
43,936
   
37,623
   
37,186
   
16,531
   
26,432
 
Total Fixed Charges
 
35,902
   
152,911
   
155,547
   
159,013
   
168,827
   
168,633
   
155,544
 
                                           
Total Earnings before Taxes
and Fixed Charges
$
44,700
 
$
241,481
 
$
268,516
 
$
246,776
 
$
249,874
 
$
242,157
 
$
232,870
 
                                           
Ratio of Earnings to Fixed Charges
 
1.245
   
1.579
   
1.726
   
1.552
   
1.480
   
1.436
   
1.497
 
 
(1) Excludes recognition of Allowance for Borrowed Funds Used During Construction.
(2) The information previously reported has been reclassified for the discontinued operations of Global Solar, Inc.