EX-12.3 6 npc123115ex123.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,
 
 
2015
 
2014
 
2013
 
2012
 
2011
 
 
 
 
 
 
 
 
 
 
 
Earnings available for fixed charges:
 
 
 
 
 
 
 
 
 
 
Net income
 
$
288

 
$
227

 
$
145

 
$
258

 
$
133

Add (deduct):
 
 
 
 
 
 
 
 
 
 
Income tax expense
 
162

 
130

 
94

 
138

 
71

Fixed charges
 
190

 
211

 
220

 
220

 
234

Capitalized interest (allowance for borrowed funds used during construction)
 
(3
)
 
(1
)
 
(6
)
 
(5
)
 
(7
)
 
 
349

 
340

 
308

 
353

 
298


 
 
 
 
 
 
 
 
 
 
Total earnings available for fixed charges
 
$
637

 
$
567

 
$
453

 
$
611

 
$
431


 
 
 
 
 
 
 
 
 
 
Fixed charges -
 
 
 
 
 
 
 
 
 
 
Interest expense
 
190

 
211

 
220

 
220

 
234

Total fixed charges
 
$
190

 
$
211

 
$
220

 
$
220

 
$
234

 
 
 
 
 
 
 
 
 
 
 
Ratio of earnings to fixed charges
 
3.4x

 
2.7x

 
2.1x

 
2.8x

 
1.8x