EX-12.2 4 exhibit12-2.htm EXHIBIT 12.2 exhibit12-2.htm
Exhibit 12.2


NEVADA POWER COMPANY
RATIOS OF EARNINGS TO FIXED CHARGES
(Dollars in Thousands)


     
Six Months Ended June 30,
    
Year Ended December 31,
  
 
 
  
2007
    
2006
    
2006
    
2005
    
2004
    
2003
    
2002
  
                                             
EARNINGS AS DEFINED:
                                          
 
Income (Loss) From Continuing Operations
                                          
 
After Interest Charges
   $
28,186
     $
25,160
     $
224,540
     $
132,734
     $
104,312
     $
19,277
     $ (235,070 )
 
Income Taxes
    
14,573
      
12,814
      
117,510
      
63,995
      
56,572
       (614 )     (131,784 )
  Income (Loss) From Continuing                                                        
 
Operations before Income Taxes
    
42,759
      
37,974
      
342,050
      
196,729
      
160,884
      
18,663
       (366,854 )
                                                           
 
Fixed Charges
    
94,906
      
97,292
      
190,333
      
159,776
      
145,055
      
195,342
      
137,968
  
                                                           
 
Capitalized Interest - (allowance for
                                                       
 
    borrowed funds used during construction)
     (5,253 )     (8,072 )     (11,614 )     (23,187 )     (5,738 )     (2,700 )     (3,412 )
                                                           
 
Total
   $
132,412
     $
127,194
     $
520,769
     $
333,318
     $
300,201
     $
211,305
     $ (232,298 )
                                                           
FIXED CHARGES AS DEFINED:
                                                        
 
Interest Expensed and Capitalized (1)
   $
94,906
     $
97,292
     $
190,333
     $
159,776
     $
145,055
     $
195,342
     $
137,968
  
                                                           
 
Total
   $
94,906
     $
97,292
     $
190,333
     $
159,776
     $
145,055
     $
195,342
     $
137,968
  
                                                           
RATIO OF EARNINGS TO FIXED CHARGES
    
1.40
      
1.31
      
2.74
      
2.09
      
2.07
      
1.08
          
                                                           
 
DEFICIENCY
   $
-
     $
-
     $
-
     $
-
     $
-
     $
-
     $
370,266
  
                                                           
(1)
Includes amortization of premiums, discounts, and capitalized debt expense and interest component of
                  
 
rent expense.
                                                        

For the purpose of calculating the ratios of earnings to fixed charges, “Fixed charges” represent the aggregate of interest charges on short-term and long-term debt (whether expensed or capitalized) and the portion of rental expense deemed attributable to interest. “Earnings” represents pre-tax income (or loss) from continuing operations before fixed charges (excluding capitalized interest).