EX-12.1 4 dex121.htm STATEMENT REGARDING COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES Statement regarding computation of Ratios of Earnings to Fixed Charges

Exhibit 12.1

 

     Three Months
Ended March 31,
    Year Ended December 31,  
     2006     2005     2005     2004     2003     2002     2001  
     Amounts in 000’s  

EARNINGS AS DEFINED:

              

Income (Loss) From Continuing Operations After Interest Charges

     ($3,296 )     ($8,033 )   $ 132,734     $ 104,312     $ 19,277     ($ 235,070 )   $ 63,405  

Income Taxes

     (1,686 )     (3,692 )     63,995       56,572       (614 )     (131,784 )     32,737  
                                                        

Income (Loss) From Continuing Operations before Income Taxes

     (4,982 )     (11,725 )     196,729       160,884       18,663       (366,854 )     96,142  

Fixed Charges

     47,081       46,352       159,776       145,055       195,342       137,968       112,343  

Capitalized Interest

     (5,372 )     (4,313 )     (23,187 )     (5,738 )     (2,700 )     (3,412 )     (2,141 )

Total

   $ 36,727     $ 30,314     $ 333,318     $ 300,201     $ 211,305     $ (232,298 )   $ 206,344  
                                                        

FIXED CHARGES AS DEFINED:

              

Interest Expensed and Capitalized(1)

   $ 47,081     $ 46,352     $ 159,776     $ 145,055     $ 195,342     $ 137,968     $ 112,343  
                                                        

Total

   $ 47,081     $ 46,352     $ 159,776     $ 145,055     $ 195,342     $ 137,968     $ 112,343  
                                                        

RATIO OF EARNINGS TO FIXED CHARGES

         2.09       2.07       1.08         1.84  

DEFICIENCY

   $ 10,354     $ 16,038     $ —       $ —       $ —       $ 370,266     $ —    

(1) Includes amortization of premiums, discounts, and capitalized debt expense and interest component of rent expense.