EX-12.01 4 ee1231201110kex121.htm COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES EE 12.312011 10K Ex 12.01



Exhibit 12.01
El Paso Electric Company
Computation of Ratios of Earnings to Fixed Charges
(Dollars in Thousands)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Years Ended December 31,
 
2011
 
2010
 
2009
 
2008
 
2007
Earnings from Continuing
 
 
 
 
 
 
 
 
 
   Operations (a)
$
157,247

 
$
141,333

 
$
99,977

 
$
115,451

 
$
109,220

Fixed Charges (b)
 
 
 
 
 
 
 
 
 
   Interest charges
55,104

 
51,080

 
50,908

 
48,813

 
37,648

   Interest portion of rent expense
908

 
830

 
929

 
1,085

 
1,181

       Total Fixed Charges
56,012

 
51,910

 
51,837

 
49,898

 
38,829

Capitalized Interest
(18,186
)
 
(19,974
)
 
(16,283
)
 
(15,872
)
 
(11,897
)
Earnings (c)
$
195,073

 
$
173,269

 
$
135,531

 
$
149,477

 
$
136,152

Ratio of Earnings to Fixed Charges
3.5

 
3.3

 
2.6

 
3.0

 
3.5

_______________________
(a) Earnings from continuing operations consist of income from continuing operations before income taxes, extraordinary item and cumulative effects of accounting changes.
(b) Fixed charges consist of all interest on indebtedness, amortization of debt discount and expense and the estimated portion of rental expense that represents an interest factor.
(c) Earnings consist of earnings from continuing operations and fixed charges less AFUDC and capitalized interest.