EX-12.1 6 d06544exv12w1.txt STATEMENT RE COMPUTATION OF RATIO-FIXED CHARGES EXHIBIT 12.1 PUBLIC SERVICE COMPANY OF NEW MEXICO AND SUBSIDIARIES Ratio of Earnings to Fixed Charges (1,000'S)
Three Months Year Ended December 31, Ended Line ------------------------------------------------------ ------------ No. 12/31/02 12/31/01 12/31/00 12/31/99 12/31/98 03/31/03 ---- --------- --------- --------- --------- --------- ------------ Fixed charges, as defined by the Securities and Exchange Commission: 1 Interest on Long-term Debt $ 56,409 $ 62,716 $ 62,823 $ 65,899 $ 50,929 $ 15,684 2 Amortization of Debt Premium, Discount and Expenses 2,302 2,346 2,037 2,121 1,513 639 3 Other Interest 3,173 (64) 752 2,667 10,791 1,302 4 Estimated Interest Factor of Lease Rental Charges 22,290 22,235 19,716 16,514 64,275 4,763 --------- --------- --------- --------- --------- ------------ 5 Total Fixed Charges $ 84,174 $ 87,233 $ 85,328 $ 87,201 $ 127,508 $ 22,388 ========= ========= ========= ========= ========= ============ Earnings, as defined by the Securities and Exchange Commission: 6 Consolidated Net Earnings from Continuing Operations $ 62,216 $ 150,433 $ 100,946 $ 79,614 $ 95,119 $ 9,089 7 Income Taxes 32,870 81,063 74,345 42,308 56,291 5,287 8 Add Fixed Charges as Above 84,174 87,233 85,328 87,201 127,508 22,388 --------- --------- --------- --------- --------- ------------ 9 Earnings Available for Fixed Charges $ 179,260 $ 318,729 $ 260,619 $ 209,123 $ 278,918 $ 36,764 ========= ========= ========= ========= ========= ============ 10 Ratio of Earnings to Fixed Charges 2.13 3.65 3.05 2.40 2.19 1.64 ========= ========= ========= ========= ========= ============