EX-12.4 11 sppc123117ex124.htm SPPC COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES Exhibit


EXHIBIT 12.4
SIERRA PACIFIC POWER COMPANY
COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES
(Dollars in Millions)

 
 
Years Ended December 31,
 
 
2017
 
2016
 
2015
 
2014
 
2013
 
 
 
 
 
 
 
 
 
 
 
Earnings available for fixed charges:
 
 
 
 
 
 
 
 
 
 
Net income
 
$
109

 
$
84

 
$
83

 
$
87

 
$
55

Add (deduct):
 
 
 
 
 
 
 
 
 
 
Income tax expense
 
55

 
49

 
47

 
47

 
33

Fixed charges
 
43

 
56

 
61

 
63

 
62

Capitalized interest (allowance for borrowed funds used during construction)
 
(2
)
 
(4
)
 
(2
)
 
(2
)
 
(2
)
 
 
96

 
101

 
106

 
108

 
93

 
 
 
 
 
 
 
 
 
 
 
Total earnings available for fixed charges
 
$
205

 
$
185

 
$
189

 
$
195

 
$
148

 
 
 
 
 
 
 
 
 
 
 
Fixed charges -
 
 
 
 
 
 
 
 
 
 
Interest expense
 
43

 
56

 
61

 
63

 
62

Total fixed charges
 
$
43

 
$
56

 
$
61

 
$
63

 
$
62

 
 
 
 
 
 
 
 
 
 
 
Ratio of earnings to fixed charges
 
4.8x

 
3.3x

 
3.1x

 
3.1x

 
2.4x