EX-12.(A) 3 exh_12a.htm COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES - UNS Unassociated Document
Exhibit 12(a)
 
UniSource Energy Corporation
Computation of Ratio of Earnings to Fixed Charges
 
   
9 Months Ended
12 Months Ended
  
12 Months Ended(2)
  
   
Sept. 30
  
Sept. 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
 
$
56,747
  
$
75,411
  
$
76,762
  
$
80,968
  
$
80,844
  
$
65,620
  
$
68,678
  
  Other Interest (1)
    
6,876
   
7,527
   
3,153
   
1,947
   
3,709
   
2,123
   
1,287
 
  Interest on Capital Lease Obligations
    
55,047
   
74,920
   
79,098
   
85,912
   
84,080
   
87,801
   
90,559
 
Total Fixed Charges
    
118,670
   
157,858
   
159,013
   
168,827
   
168,633
   
155,544
   
160,524
 
                                             
Net Income
    
55,023
   
77,085
   
46,144
   
45,919
   
113,941
   
34,928
   
63,839
 
 
                                            
Less:
                                            
  Discontinued Operations - Net of Tax
    
(2,669
)
  
(3,731
)
  
(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
    
57,692
   
81,442
   
52,253
   
50,982
   
53,942
   
47,847
   
73,295
 
                                             
Add (Deduct):
                                            
  (Income) Losses from Equity Investees
    
(208
)
  
(2,599
)
  
(2,113
)
  
(7,121
)
  
3,051
   
3,047
   
10,748
 
  Income Taxes
    
38,630
   
56,770
   
37,623
   
37,186
   
16,531
   
26,432
   
55,616
 
  Total Fixed Charges
    
118,670
   
157,858
   
159,013
   
168,827
   
168,633
   
155,544
   
160,524
 
                                             
Total Earnings before Taxes
                                           
and Fixed Charges
  
$
214,784
  
$
293,471
  
$
246,776
  
$
249,874
  
$
242,157
  
$
232,870
  
$
300,183
  
                                             
                                             
Ratio of Earnings to Fixed Charges
    
1.810
   
1.859
   
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.