EX-12.2 12 ex12_2a.htm EXHIBIT 12.2 Exhibit 12.2
Exhibit 12.2

PNM RESOURCES, INC. AND SUBSIDIARIES
Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends
(1,000's)

Line
      
 Year Ended December 31,
No.
      
12/31/05
  
12/31/04
  
12/31/03
  
12/31/02
  
12/31/01
  
12/31/00
 
Fixed charges, as defined by the Securities and
                         
 
Exchange Commission:
                          
                             
1
Interest on Long-term Debt
    
$ 75,736
 
$ 46,702
 
$ 59,429
 
$ 56,409
 
$ 62,716
 
$ 62,823
2
Amortization of Debt Premium, Discount and
                         
 
Expenses
    
3,642
 
2,697
 
2,838
 
2,302
 
2,346
 
2,037
    3
Other Interest
    
14,299
 
2,319
 
5,423
 
2,859
 
(42)
  
752
4
Estimated Interest Factor of Lease Rental
                         
 
Charges
    
20,643
 
19,617
 
20,452
 
23,233
 
22,856
 
19,716
                             
5
Total Fixed Charges
    
114,320
 
71,335
 
88,142
 
84,803
 
87,876
 
85,328
6
Preferred dividend requirements
    
2,868
 
572
 
586
 
586
 
586
 
586
7
Total Fixed Charges and Preferred dividend
                          
 
requirements
    
$117,188
 
$ 71,907
 
$ 88,728
 
$ 85,389
 
$ 88,462
 
$ 85,914
                             
 
Earnings, as defined by the Securities and
                         
 
Exchange Commission:
                          
                             
8
Consolidated Net Earnings from Continuing
                         
 
Operations
    
$ 71,021
 
$ 88,258
 
$ 59,138
 
$ 64,272
 
$150,433
 
$100,946
9
Income Taxes
    
32,861
 
49,247
 
27,889
 
33,032
 
81,063
 
74,345
10
Add Fixed Charges as Above
    
114,320
 
71,335
 
88,142
 
84,803
 
87,876
 
85,328
                             
11
Earnings Available for Fixed Charges
    
$218,202
 
$208,840
 
$175,169
 
$182,107
 
$319,372
 
$260,619
                             
12
Ratio for Earnings to Fixed Charges
    
1.86
 
2.90
 
1.97
 
2.13
 
3.61
 
3.03