EX-12.3 12 npc123116ex123.htm NPC COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES Exhibit


EXHIBIT 12.3


NEVADA POWER COMPANY
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(Dollars in millions)

 
 
Years Ended December 31,
 
 
2016
 
2015
 
2014
 
2013
 
2012
 
 
 
 
 
 
 
 
 
 
 
Earnings available for fixed charges:
 
 
 
 
 
 
 
 
 
 
Net income
 
$
279

 
$
288

 
$
227

 
$
145

 
$
258

Add (deduct):
 
 
 
 
 
 
 
 
 
 
Income tax expense
 
146

 
162

 
130

 
94

 
138

Fixed charges
 
185

 
190

 
211

 
220

 
220

Capitalized interest (allowance for borrowed funds used during construction)
 
(4
)
 
(3
)
 
(1
)
 
(6
)
 
(5
)
 
 
327

 
349

 
340

 
308

 
353


 
 
 
 
 
 
 
 
 
 
Total earnings available for fixed charges
 
$
606

 
$
637

 
$
567

 
$
453

 
$
611


 
 
 
 
 
 
 
 
 
 
Fixed charges -
 
 
 
 
 
 
 
 
 
 
Interest expense
 
185

 
190

 
211

 
220

 
220

Total fixed charges
 
$
185

 
$
190

 
$
211

 
$
220

 
$
220

 
 
 
 
 
 
 
 
 
 
 
Ratio of earnings to fixed charges
 
3.3x

 
3.4x

 
2.7x

 
2.1x

 
2.8x