EX-12.1 4 b51173npexv12w1.txt EX-12.1 RATIO OF EARNINGS . . . EXHIBIT 12.1 Nevada Power Company
Year Ended December 31, ------------------------------------------------------------ Amounts in 000's 6/30/2004 6/30/2003 2003 2002 2001 2000 1999 ---------------- --------- --------- ---- ---- ---- ---- ---- EARNINGS AS DEFINED: Income (Loss) From Continuing Operations After Interest Charges $(1,816) $(37,438) $ 19,277 $(235,070) $ 63,405 $ (7,928) $38,787 Income Taxes (1,069) (21,629) (614) (131,784) 32,737 (9,386) 21,213 ---------- ----------- ----------- ------------ ----------- ----------- ---------- Income (Loss) From Continuing Operations before Income Taxes (2,885) (59,067) 18,663 (366,854) 96,142 (17,314) 60,000 Fixed Charges 87,368 81,462 198,042 141,380 114,484 104,402 98,203 Capitalized Interest (1,706) (1,576) (2,700) (3,412) (2,141) (7,855) (8,356) Total $ 82,777 $ 20,819 $ 214,005 $ (228,886) $ 208,485 $ 79,233 $ 149,847 ========== =========== =========== ============ =========== =========== ========== FIXED CHARGES AS DEFINED: Interest Expensed and Capitalized (1) $ 87,368 $ 81,462 $ 198,042 $ 141,380 $ 114,484 $ 104,402 $ 98,203 Total $ 87,368 $ 81,462 $ 198,042 $ 141,380 $ 114,484 $ 104,402 $ 98,203 ========== =========== =========== ============ =========== =========== ========== RATIO OF EARNINGS TO FIXED CHARGES 0.95 0.26 1.08 -1.62 1.82 0.76 1.53 DEFICIENCY $ 4,591 $ 60,643 $ -- $ 370,266 $ -- $ 25,169 $ --
(1) Includes amortization of premiums, discounts, and capitalized debt expense and interest component of rent expense.