EX-12.B 7 b68109kaexv12wb.htm EX-12.B exv12wb
 

EXHIBIT 12 (B)
NEVADA POWER COMPANY
RATIOS OF EARNINGS TO FIXED CHARGES
(Dollars in Thousands)
                                         
    Year Ended December 31,  
    2007     2006     2005     2004     2003  
EARNINGS AS DEFINED:
                                        
Income (Loss) From Continuing Operations After Interest Charges
   $ 165,694     $ 224,540     $ 132,734     $ 104,312     $ 19,277  
Income Taxes
     78,352       117,510       63,995       56,572       (614 )
 
                              
Income (Loss) From Continuing Operations before Income Taxes
     244,046       342,050       196,729       160,884       18,663  
 
Fixed Charges
     190,836       190,333       159,776       145,055       195,342  
Capitalized Interest (allowance for borrowed funds used during construction)
     (13,196 )     (11,614 )     (23,187 )     (5,738 )     (2,700 )
 
                              
 
Total
   $ 421,686     $ 520,769     $ 333,318     $ 300,201     $ 211,305  
 
                              
 
                                        
FIXED CHARGES AS DEFINED:
                                        
Interest Expensed and Capitalized (1)
   $ 190,836     $ 190,333     $ 159,776     $ 145,055     $ 195,342  
 
                              
 
                                        
Total
   $ 190,836     $ 190,333     $ 159,776     $ 145,055     $ 195,342  
 
                              
 
                                        
RATIO OF EARNINGS TO FIXED CHARGES
     2.21       2.74       2.09       2.07       1.08  
 
(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).