EX-12 3 exhibit12b.txt EXHIBIT 12(B) - RATIO OF EARNINGS (TUSCON) Exhibit 12(b) TUCSON ELECTRIC POWER COMPANY Computation of Ratio of Earnings to Fixed Charges
3 Months 12 Months | 12 Months Ended Ended Ended | --------------------------------------------------------------------------- Jun. 30 Jun. 30 | Dec. 31, Dec. 31, Dec. 31, Dec. 31, Dec. 31, 2005 2005 | 2004 2003 2002 2001 2000 ------------------------------------------------------------------------------------------------------------------ | - Thousands of Dollars - FIXED CHARGES: | Interest on Long-Term Debt $ 31,437 $ 65,543 | $ 71,743 $ 76,585 $ 65,620 $ 68,678 $ 75,076 Other Interest (1) 1,217 2,078 | 1,414 1,820 273 441 211 Interest on Capital Lease Obligations 39,129 84,912 | 85,869 84,053 87,783 90,506 92,815 ------------------------------------------------------------------------------------------------------------------ TOTAL FIXED CHARGES 71,783 152,533 | 159,026 162,458 153,676 159,625 168,102 | NET INCOME 7,458 34,773 | 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 7,458 34,773 | 46,127 61,442 55,390 77,308 52,762 | ADD (DEDUCT): | (Income) Losses from Equity Investees (2) (30) (119)| (131) (76) 17 700 1,543 Income Taxes 6,789 24,690 | 34,815 21,090 36,434 57,545 27,610 Total Fixed Charges 71,783 152,533 | 159,026 162,458 153,676 159,625 168,102 ------------------------------------------------------------------------------------------------------------------ | TOTAL EARNINGS BEFORE TAXES | AND FIXED CHARGES $ 86,000 $211,877 | $239,837 $244,914 $245,517 $295,178 $250,017 ================================================================================================================== | RATIO OF EARNINGS TO FIXED CHARGES 1.198 1.389 | 1.508 1.508 1.598 1.849 1.487 (1) Excludes recognition of Allowance for Borrowed Funds Used During Construction. (2) Truepricing and Inncom (income) losses.