EX-12.A 2 unsex12a6302013.htm EXHIBIT 12A UNS Ex 12.A 6.30.2013


Exhibit 12a
UNS Energy Corporation
Computation of Ratio of Earnings to Fixed Charges
 
 
 
6 Months  Ended
 
12 Months Ended
 
 
June 30,
 
June 30,
 
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
 
$
35,954

 
$
71,126

 
$
71,909

 
$
73,217

 
$
65,020

 
$
58,134

 
$
70,227

Other Interest (1)
 
(47
)
 
916

 
1,954

 
2,535

 
1,651

 
3,468

 
1,837

Interest on Capital Lease Obligations
 
13,554

 
31,902

 
36,593

 
44,874

 
52,540

 
53,682

 
57,272

Estimated Interest Portion of Rental Expense
 
311

 
656

 
691

 
926

 
240

 
345

 
188

Total Fixed Charges
 
$
49,772

 
$
104,600

 
$
111,147

 
$
121,552

 
$
119,451

 
$
115,629

 
$
129,524

Net Income
 
$
45,963

 
$
104,132

 
$
90,919

 
$
109,975

 
$
112,984

 
$
105,901

 
$
16,955

Add:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Losses from Equity Investees
 
—

 
7

 
7

 
—

 
5,570

 
1,834

 
713

Income Tax Expense
 
11,033

 
46,442

 
55,727

 
66,951

 
76,921

 
63,232

 
18,747

Total Fixed Charges
 
49,772

 
104,600

 
111,147

 
121,552

 
119,451

 
115,629

 
129,524

Total Earnings before Taxes and Fixed Charges
 
$
106,768

 
$
255,181

 
$
257,800

 
$
298,478

 
$
314,926

 
$
286,596

 
$
165,939

Ratio of Earnings to Fixed Charges
 
2.145

 
2.440

 
2.319

 
2.456

 
2.636

 
2.479

 
1.281

(1) 
Excludes recognition of Allowance for Borrowed Funds Used During Construction and Loss on Extinguishment of Debt.