EX-12.3 4 dex123.htm TNMP - RATIO OF EARNINGS TO FIXED CHARGES TNMP - Ratio of Earnings to Fixed Charges
  TEXAS-NEW MEXICO POWER COMPANY   Exhibit 12.3

Ratio of Earnings to Fixed Charges

(In thousands, except ratio)

 

    Six Months Ended
June 30, 2010		   Year Ended December 31,
      2009   2008   2007   2006   2005

Fixed charges, as defined by the Securities and Exchange Commission:

            

Interest expensed and capitalized

     $ 14,515       $ 25,609       $ 17,861       $ 23,523       $ 27,374       $ 25,906  

Amortization of debt premium, discount and expenses

     1,366       3,355       1,504       1,925       1,695       2,111  

Estimated interest factor of lease rental charges

     588       831       571       844       367       377  
                                   

Total Fixed Charges

     $ 16,469       $ 29,795       $ 19,936       $ 26,292       $ 29,436       $ 28,394
                                   

Earnings, as defined by the Securities and Exchange Commission:

            

Earnings from continuing operations before income taxes

     $ 9,490       $ 20,151       $ 2,335       $ 29,055       $ 17,905       $ 25,183  

Fixed charges as above

     16,469       29,795       19,936       26,292       29,436       28,394  

Interest capitalized

     (59)              (1,144)      (1,025)      (332)      (209)      (200) 
                                   

Earnings Available for Fixed Charges

     $         25,900       $ 48,802       $         21,246       $         55,015       $         47,132       $         53,377
                                   

Ratio of Earnings to Fixed Charges

     1.57       1.64       1.07       2.09       1.60       1.88