EX-12.4 13 sppc123116ex124.htm SPPC COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES Exhibit


EXHIBIT 12.4
SIERRA PACIFIC POWER COMPANY
COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES
(Dollars in Millions)

 
 
Years Ended December 31,
 
 
2016
 
2015
 
2014
 
2013
 
2012
 
 
 
 
 
 
 
 
 
 
 
Earnings available for fixed charges:
 
 
 
 
 
 
 
 
 
 
Net income
 
$
84

 
$
83

 
$
87

 
$
55

 
$
84

Add (deduct):
 
 
 
 
 
 
 
 
 
 
Income tax expense
 
49

 
47

 
47

 
33

 
40

Fixed charges
 
56

 
61

 
63

 
62

 
66

Capitalized interest (allowance for borrowed funds used during construction)
 
(4
)
 
(2
)
 
(2
)
 
(2
)
 
(2
)
 
 
101

 
106

 
108

 
93

 
104

 
 
 
 
 
 
 
 
 
 
 
Total earnings available for fixed charges
 
$
185

 
$
189

 
$
195

 
$
148

 
$
188

 
 
 
 
 
 
 
 
 
 
 
Fixed charges -
 
 
 
 
 
 
 
 
 
 
Interest expense
 
56

 
61

 
63

 
62

 
66

Total fixed charges
 
$
56

 
$
61

 
$
63

 
$
62

 
$
66

 
 
 
 
 
 
 
 
 
 
 
Ratio of earnings to fixed charges
 
3.3x

 
3.1x

 
3.1x

 
2.4x

 
2.8x