EX-12.B 3 tepex12b.htm EXHIBIT 12B TEP Ex 12.B


Exhibit 12b
Tucson Electric Power Company
Computation of Ratio of Earnings to Fixed Charges
 
 
 
3 Months
 Ended
 
12 Months Ended
 
 
March 31,
 
March 31,
 
December 31,
 
December 31,
 
December 31,
 
December 31,
 
December 31,
 
 
2013
 
2013
 
2012
 
2011
 
2010
 
2009
 
2008
 
 
Thousands of Dollars
Fixed Charges:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Interest on Long-Term Debt
 
$
14,573

 
$
55,696

 
$
55,038

 
$
49,858

 
$
42,378

 
$
36,226

 
$
47,456

Other Interest (1)
 
(361
)
 
555

 
1,446

 
1,127

 
433

 
1,571

 
1,367

Interest on Capital Lease Obligations
 
6,777

 
34,250

 
36,593

 
44,874

 
52,534

 
53,670

 
57,252

Estimated Interest Portion of Rental Expense
 
139

 
597

 
611

 
795

 
72

 
106

 
130

Total Fixed Charges
 
$
21,128

 
$
91,098

 
$
93,688

 
$
96,654

 
$
95,417

 
$
91,573

 
$
106,205

Net Income (Loss)
 
$
1,478

 
$
68,410

 
$
65,470

 
$
85,334

 
$
108,260

 
$
90,688

 
$
7,206

Add (Deduct):
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(Income) from Equity Investees
 
—

 
—

 
—

 
—

 
—

 
—

 
(1,381
)
Income Tax Expense (Benefit)
 
1,257

 
42,335

 
39,109

 
52,000

 
59,936

 
54,220

 
12,729

Total Fixed Charges
 
21,128

 
91,098

 
93,688

 
96,654

 
95,417

 
91,573

 
106,205

Total Earnings before Taxes and Fixed Charges
 
$
23,863

 
$
201,843

 
$
198,267

 
$
233,988

 
$
263,613

 
$
236,481

 
$
124,759

Ratio of Earnings to Fixed Charges
 
1.129

 
2.216

 
2.116

 
2.421

 
2.763

 
2.582

 
1.175

(1) 
Excludes recognition of Allowance for Borrowed Funds Used During Construction.