FEI-FEVI 2010 EEC Report filed March 31, 2011 - FortisBC

TERASEN GAS (VANCOUVER ISLAND) INC. Nov. 5 2009 NSP Agreement Section C
Tab 13
INCOME TAXES Schedule 7
FOR THE YEAR ENDING DECEMBER 31, 2011
($000s)
2011
----Cost of Service Rates-----
Line 2010 Approved Required
No. Particulars FORECAST Rates Revenue Total Change Reference
(1) (2) (3) (4) (5) (6) (7)
1 CALCULATION OF INCOME TAXES
2 Earned Return After VINGPA Adjustment $37,017 $69,086 ($18,087) $50,999 $13,982 Schedule 4
3 Deduct - Interest on Debt (18,563) (26,136)
10 (26,126) (7,563) Schedule 13
4 Add - O&M Savings -
-
-
-
-
5 Add- Non-Tax Ded. Expense (Net) (6,593) (686)
-
(686) 5,908 Schedule 35
6 Accounting Income After Tax 11,860
7 Add (Deduct) - Timing Differences (8,044)
42,264
(13,552)
(18,077)
-
24,187
(13,552)
12,327
(5,509)
8 Taxable Income After Tax $3,816 $28,712 ($18,077) $10,635 $6,818
9 28.500% 26.500% 26.500% 26.500% -2.000%
10 1 - Current Income Tax Rate 71.500% 73.500% 73.500% 73.500% 2.000%
11 Taxable Income $5,338 $39,064 ($24,595) $14,469 $340,924
Schedule 35
12 Total Income Tax $ 1,521 $ 10,352 $ (6,518) $ 3,834 $ 2,313 x-ref Schedule 4
APPENDIX A
to Order G-140-09
Page 31 of 102