EX-12.3 10 npc123117ex123.htm NPC COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES Exhibit


EXHIBIT 12.3


NEVADA POWER COMPANY
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(Dollars in millions)

 
 
Years Ended December 31,
 
 
2017
 
2016
 
2015
 
2014
 
2013
 
 
 
 
 
 
 
 
 
 
 
Earnings available for fixed charges:
 
 
 
 
 
 
 
 
 
 
Net income
 
$
255

 
$
279

 
$
288

 
$
227

 
$
145

Add (deduct):
 
 
 
 
 
 
 
 
 
 
Income tax expense
 
156

 
146

 
162

 
130

 
94

Fixed charges
 
179

 
185

 
190

 
211

 
220

Capitalized interest (allowance for borrowed funds used during construction)
 
(1
)
 
(4
)
 
(3
)
 
(1
)
 
(6
)
 
 
334

 
327

 
349

 
340

 
308


 
 
 
 
 
 
 
 
 
 
Total earnings available for fixed charges
 
$
589

 
$
606

 
$
637

 
$
567

 
$
453


 
 
 
 
 
 
 
 
 
 
Fixed charges -
 
 
 
 
 
 
 
 
 
 
Interest expense
 
179

 
185

 
190

 
211

 
220

Total fixed charges
 
$
179

 
$
185

 
$
190

 
$
211

 
$
220

 
 
 
 
 
 
 
 
 
 
 
Ratio of earnings to fixed charges
 
3.3x

 
3.3x

 
3.4x

 
2.7x

 
2.1x