EX-12 4 exh12a_0315.txt EXH. 12A - COMPUTATION OF RATIO OF EARNINGS - TEP Exhibit 12(a) TUCSON ELECTRIC POWER COMPANY COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
12 Months Ended ---------------------------------------------------------- Dec. 31, Dec. 31, Dec. 31, Dec. 31, Dec. 31, 2004 2003 2002 2001 2000 ------------------------------------------------------------------------------------------------------ - Thousands of Dollars - FIXED CHARGES: Interest on Long-Term Debt $ 71,743 $ 76,585 $ 65,620 $ 68,678 $ 75,076 Other Interest (1) 1,414 1,820 273 441 211 Interest on Capital Lease Obligations 85,869 84,053 87,783 90,506 92,815 ------------------------------------------------------------------------------------------------------ TOTAL FIXED CHARGES 159,026 162,458 153,676 159,625 168,102 NET INCOME 46,127 128,913 55,390 77,778 52,762 LESS: Extraordinary Income & Accounting Change - Net of Tax - 67,471 - 470 - ------------------------------------------------------------------------------------------------------ NET INCOME FROM CONTINUING OPERATIONS 46,127 61,442 55,390 77,308 52,762 ADD (DEDUCT): (Income) Losses from Equity Investees (2) (131) (76) 17 700 1,543 Income Taxes 34,815 21,090 36,434 57,545 27,610 Total Fixed Charges 159,026 162,458 153,676 159,625 168,102 ------------------------------------------------------------------------------------------------------ TOTAL EARNINGS BEFORE TAXES AND FIXED CHARGES $ 239,837 $ 244,914 $ 245,517 $ 295,178 $ 250,017 ====================================================================================================== RATIO OF EARNINGS TO FIXED CHARGES 1.508 1.508 1.598 1.849 1.487 (1) Excludes recognition of Allowance for Borrowed Funds Used During Construction. (2) Inncom International, Inc. and TruePricing, Inc. (income) losses.