EX-12.2 4 exhibit12-2.htm EXHIBIT 12.2 exhibit12-2.htm


NEVADA POWER COMPANY
RATIOS OF EARNINGS TO FIXED CHARGES
(Dollars in Thousands)

     
Nine Months Ended September 30,
    
Year Ended December 31,
  
     
2007
    
2006
    
2006
    
2005
    
2004
    
2003
    
2002
  
                                             
EARNINGS AS DEFINED:
                                          
                                             
 
Income (Loss) From Continuing Operations After Interest Charges
   $
161,280
     $
236,273
     $
224,540
     $
132,734
     $
104,312
     $
19,277
     $ (235,070 )
 
Income Taxes
    
83,498
      
123,402
      
117,510
      
63,995
      
56,572
       (614 )     (131,784 )
                                                           
 
Income (Loss) From Continuing Operations before Income Taxes
    
244,778
      
359,675
      
342,050
      
196,729
      
160,884
      
18,663
       (366,854 )
                                                           
 
Fixed Charges
    
143,497
      
145,750
      
190,333
      
159,776
      
145,055
      
195,342
      
137,968
  
 
Capitalized Interest (allowance for borrowed funds used during construction)
     (9,189 )     (10,050 )     (11,614 )     (23,187 )     (5,738 )     (2,700 )     (3,412 )
                                                           
 
Total
   $
379,086
     $
495,375
     $
520,769
     $
333,318
     $
300,201
     $
211,305
     $ (232,298 )
                                                           
FIXED CHARGES AS DEFINED:
                                                        
 
Interest Expensed and Capitalized (1)
   $
143,497
     $
145,750
     $
190,333
     $
159,776
     $
145,055
     $
195,342
     $
137,968
  
                                                           
 
Total
   $
143,497
     $
145,750
     $
190,333
     $
159,776
     $
145,055
     $
195,342
     $
137,968
  
                                                           
RATIO OF EARNINGS TO FIXED CHARGES
    
2.64
      
3.40
      
2.74
      
2.09
      
2.07
      
1.08
      
-
  
                                                           
 
DEFICIENCY
   $
-
     $
-
     $
-
     $
-
     $
-
     $
-
     $
370,266
  
                                                           
(1)
Includes amortization of premiums, discounts, and capitalized debt expense and interest component of
                          
 
rent expense.
                                                        

For the purpose of calculating the ratios of earnings to fixed charges, “Fixed charges” represent the aggregate of interest charges on short-term and long-term debt (whether expensed or capitalized) and the portion of rental expense deemed attributable to interest. “Earnings” represents pre-tax income (or loss) from continuing operations before fixed charges (excluding capitalized interest).