EX-12.01 2 spsex120110k2014.htm EXHIBIT 12.01 SPS EX 12.01 10K 2014


Exhibit 12.01

SOUTHWESTERN PUBLIC SERVICES CO.
STATEMENT OF COMPUTATION OF
RATIO OF EARNINGS TO FIXED CHARGES
(amounts in thousands, except ratio)

 
Year Ended Dec. 31
 
2014
 
2013
 
2012
 
2011
 
2010
Earnings, as defined:
 

 
 

 
 

 
 

 
 

Pretax income
$
205,054

 
$
148,938

 
$
168,598

 
$
145,034

 
$
126,933

Add: Fixed charges
105,946

 
104,534

 
103,760

 
100,901

 
100,518

Total earnings, as defined
$
311,000

 
$
253,472

 
$
272,358

 
$
245,935

 
$
227,451

Fixed charges, as defined:
 

 
 

 
 

 
 

 
 

Interest charges
$
80,218

 
$
77,866

 
$
69,074

 
$
65,095

 
$
63,912

Interest component of leases
25,728

 
26,668

 
34,686

 
35,806

 
36,606

Total fixed charges, as defined
$
105,946

 
$
104,534

 
$
103,760

 
$
100,901

 
$
100,518

Ratio of earnings to fixed charges
2.9

 
2.4

 
2.6

 
2.4

 
2.3