EX-12.2 7 d06544exv12w2.txt STATEMENT RE COMPUTATION OF RATIO-COMBINED CHARGES EXHIBIT 12.2 PUBLIC SERVICE COMPANY OF NEW MEXICO AND SUBSIDIARIES Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends (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 6 Preferred dividend requirements 586 586 586 586 586 146 --------- --------- --------- --------- --------- ------------ 7 Total Fixed Charges and Preferred dividend requirements $ 84,760 $ 87,819 $ 85,914 $ 87,787 $ 128,094 $ 22,534 ========= ========= ========= ========= ========= ============ Earnings, as defined by the Securities and Exchange Commission: 8 Consolidated Net Earnings from Continuing Operations $ 62,216 $ 150,433 $ 100,946 $ 79,614 $ 95,119 $ 9,089 9 Income Taxes 32,870 81,063 74,345 42,308 56,291 5,287 10 Add Fixed Charges as Above 84,174 87,233 85,328 87,201 127,508 22,388 --------- --------- --------- --------- --------- ------------ 11 Earnings Available for Fixed Charges $ 179,260 $ 318,729 $ 260,619 $ 209,123 $ 278,918 $ 36,764 ========= ========= ========= ========= ========= ============ 12 Ratio of Earnings to Combined Fixed Charges and 2.12 3.63 3.03 2.38 2.18 1.63 ========= ========= ========= ========= ========= ============