EX-12.A 2 ex12-a.htm UNISOURCE ENERGY CORPORATION COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES UniSource Energy Corporation Computation of Ratio of Earnings to Fixed Charges
 
Exhibit 12(a)
 
UniSource Energy Corporation
Computation of Ratio of Earnings to Fixed Charges

   
6
Months
Ended
 
12
Months
Ended
 
12 Months Ended(2)
   
Jun. 30,
 
Jun. 30,
 
Dec. 31,
 
Dec. 31,
 
Dec. 31,
 
Dec. 31,
 
Dec. 31,
 
 
 
2006
 
2006
 
2005
 
2004
 
2003
 
2002
 
2001
 
   
- Thousands of Dollars -
 
- Thousands of Dollars -
Fixed Charges:
                             
    Interest on Long-Term Debt
 
$
37,892
 
$
74,558
 
$
76,762
 
$
80,968
 
$
80,844
 
$
65,620
 
$
68,678
 
    Other Interest (1)
   
2,573
   
4,222
   
3,153
   
1,947
   
3,709
   
2,123
   
1,287
 
    Interest on Capital Lease Obligations
   
37,073
   
77,024
   
79,098
   
85,912
   
84,080
   
87,801
   
90,559
 
Total Fixed Charges
   
77,538
   
155,804
   
159,013
   
168,827
   
168,633
   
155,544
   
160,524
 
                                             
Net Income
   
26,820
   
67,279
   
46,144
   
45,919
   
113,941
   
34,928
   
63,839
 
 
                                           
Less:
                                           
    Discontinued Operations - Net of Tax
   
(2,669
)
 
(5,135
)
 
(5,483
)
 
(5,063
)
 
(7,472
)
 
(12,919
)
 
(9,926
)
    Accounting Change - Net of Tax
   
-
   
(626
)
 
(626
)
 
-
   
67,471
   
-
   
470
 
Net Income from Continuing Operations
   
29,489
   
73,040
   
52,253
   
50,982
   
53,942
   
47,847
   
73,295
 
                                             
Add (Deduct):
                                           
    (Income) Losses from Equity Investees
   
24
   
(2,819
)
 
(2,113
)
 
(7,121
)
 
3,051
   
3,047
   
10,748
 
    Income Taxes
   
20,917
   
50,913
   
37,623
   
37,186
   
16,531
   
26,432
   
55,616
 
    Total Fixed Charges
   
77,538
   
155,804
   
159,013
   
168,827
   
168,633
   
155,544
   
160,524
 
                                             
Total Earnings before Taxes
and Fixed Charges
 
$
127,968
 
$
276,938
 
$
246,776
 
$
249,874
 
$
242,157
 
$
232,870
 
$
300,183
 
                                             
Ratio of Earnings to Fixed Charges
   
1.650
   
1.777
   
1.552
   
1.480
   
1.436
   
1.497
   
1.870
 
 
 
(1) Excludes recognition of Allowance for Borrowed Funds Used During Construction.
(2) The information previously reported has been reclassified for the discontinued operations of Global Solar, Inc.