EX-12.2 4 exh122a_123106.htm EXHIBIT 12.2 exh122a_123106.htm
Exhibit 12.2

PNM RESOURCES, INC. AND SUBSIDIARIES
Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends
(1,000's)
 Line            
  Year Ended December  31,
          
 No.    
12/31/06
  
12/31/05
  
12/31/04
  
12/31/03
  
12/31/02
  
12/31/01
  
 
Fixed charges, as defined by the Securities and Exchange
                          
 
Commission:
                          
                             
 1
Interest on Long-term Debt
  
$
95,301
  
$
75,736
  
$
46,702
  
$
59,429
  
$
56,409
  
$
62,716
  
 2
Amortization of Debt Premium, Discount and Expenses
    
4,417
   
3,642
   
2,697
   
2,838
   
2,302
   
2,346
 
 3
Other Interest
    
45,811
   
14,299
   
2,319
   
5,423
   
2,859
   
(42
)
 4
Estimated Interest Factor of Lease Rental Charges
    
19,714
   
20,643
   
19,617
   
20,452
   
23,233
   
22,856
 
                                         
 5
Total Fixed Charges
    
165,243
   
114,320
   
71,335
   
88,142
   
84,803
   
87,876
 
 6
Preferred dividend requirements
    
528
   
2,868
   
572
   
586
   
586
   
586
 
 7
Total Fixed Charges and Preferred dividend
                                      
 
requirements
  
$
165,771
  
$
117,188
  
$
71,907
  
$
88,728
  
$
85,389
  
$
88,462
  
                                         
                                         
 
Earnings, as defined by the Securities and Exchange
                                      
 
Commission:
                                      
                                         
 8
Consolidated Net Earnings from Continuing Operations
  
$
121,346
  
$
69,725
  
$
86,962
  
$
57,842
  
$
62,976
  
$
149,137
  
 9
Income Taxes
    
63,970
   
32,861
   
49,247
   
27,889
   
33,032
   
81,063
 
 10
Add Fixed Charges as Above
    
165,243
   
114,320
   
71,335
   
88,142
   
84,803
   
87,876
 
                                         
 11
Earnings Availabe for Fixed Charges
  
$
350,559
  
$
216,906
  
$
207,544
  
$
173,873
  
$
180,811
  
$
318,076
  
                                         
 12
Ratio for Earnings to Fixed Charges
    
2.11
   
1.85
   
2.89
   
1.96
   
2.12
   
3.60