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

TERASEN GAS INC. Nov 5, 2009 NSP Agreement Section C
Tab 13
INCOME TAXES Schedule 35
FOR THE YEAR ENDING DECEMBER 31, 2010
($000s)
2010
----Revised Rates-----
Line June 15, 2009 Existing Revised
No. Particulars Application Rates Revenue Total Change Reference
(1) (2) (3) (4) (5) (6) (7)
1 CALCULATION OF INCOME TAXES
2 Earned Return $185,254 $184,217 $0 $184,217 ($1,037) - Tab C-13, Schedule 4
3 Deduct - Interest on Debt (110,056) (109,062)
- (109,062)
994 - Tab C-13, Schedule 10
4 Add- Non-Tax Ded. Expense (Net) (1,864) (2,069)
-
(2,069)
(205) - Tab C-13, Schedule 37
5 Accounting Income After Tax 73,334 73,086
-
73,086
(248)
6 Add (Deduct) - Timing Differences 5,999 (4,958)
-
(4,958) (10,957) - Tab C-13, Schedule 37
7 Taxable Income After Tax 79,333 68,128
-
68,128 (11,205)
8 Taxable Income Adj - SCP Landscaping Deduction -
(7,834)
-
(7,834) (7,834)
9 Taxable Income Adj - Tax on SCP Landscaping -
2,233
-
2,233 2,233
10
11
Adjusted Taxable Income After Tax $79,333 $62,527 $0 $62,527 ($16,806)
12 28.500% 28.500% 28.500% 28.500% 0.000%
13
14
1 - Current Income Tax Rate 71.500% 71.500% 71.500% 71.500% 0.000%
15 Taxable Income 110,955 $87,450 $0 $87,450 ($23,505)
16 (X-Ref - Tab C-13, Schedule 4)
17 Total Income Tax $31,622 $24,923 $0 $24,923 ($6,699) (X-Ref - Tab C-13, Schedule 12)
APPENDIX A
to Order G-141-09
Page 56 of 110