EX-12.(A) 2 exhibit_12a.htm EXHIBIT 12(A) COMPUTATION OF RATIO EARNINGS TO FIXED CHARGES Exhibit 12(a) Computation of Ratio Earnings to Fixed Charges
Exhibit 12(a)
UniSource Energy Corporation
Computation of Ratio of Earnings to Fixed Charges
   
12 Months Ended
 
 
   
Dec. 31, 
   
Dec. 31,
   
Dec. 31,
   
Dec. 31,
   
Dec. 31,
 
 
   
2005
   
2004
   
2003
   
2002
   
2001
 
 
 
- Thousands of Dollars - 
Fixed Charges:
                               
  Interest on Long-Term Debt
 
$
76,762
 
$
80,968
 
$
80,844
 
$
65,620
 
$
68,678
 
  Other Interest (1)
   
3,153
   
1,947
   
3,709
   
2,123
   
1,287
 
  Interest on Capital Lease Obligations
   
79,098
   
85,912
   
84,080
   
87,801
   
90,559
 
Total Fixed Charges
   
159,013
   
168,827
   
168,633
   
155,544
   
160,524
 
                                 
Net Income
   
46,144
   
45,919
   
113,941
   
34,928
   
63,839
 
 
                               
Less:
                               
  Extraordinary Income & Accounting Change -
                               
    Net of Tax
   
(626
)
 
-
   
67,471
   
-
   
470
 
Net Income from Continuing Operations
   
46,770
   
45,919
   
46,470
   
34,928
   
63,369
 
                                 
Add (Deduct):
                               
  (Income) Losses from Equity Investees
   
(2,113
)
 
(7,121
)
 
3,051
   
3,047
   
10,748
 
  Income Taxes
   
32,560
   
33,946
   
12,082
   
17,962
   
49,109
 
  Total Fixed Charges
   
159,013
   
168,827
   
168,633
   
155,544
   
160,524
 
                                 
Total Earnings before Taxes
                               
and Fixed Charges
 
$
236,230
 
$
241,571
 
$
230,236
 
$
211,481
 
$
283,750
 
                                 
                                 
Ratio of Earnings to Fixed Charges
   
1.486
   
1.431
   
1.365
   
1.360
   
1.768
 
 
 
(1) Excludes recognition of Allowance for Borrowed Funds Used During Construction.