EX-12.01 5 a2051400zex-12_01.htm STATEMENT OF COMPUTATION OF EARNINGS Prepared by MERRILL CORPORATION
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Exhibit 12.01


SOUTHWESTERN PUBLIC SERVICE COMPANY
STATEMENT OF COMPUTATION OF
RATIO OF EARNINGS TO FIXED CHARGES
Thousands of Dollars

 
    
   Year Ended December 31,
    
    
 
   Quarter Ended
March 31,
2001
   Transition
Period
   Year Ended
August 31,
1996
 
   2000
   1999
   1998
   1997
Earnings:                                          
  Net Income   $ 26,049   $ 69,492   $ 102,709   $ 114,987   $ 75,575   $ 19,137   $ 105,773

Add
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  Income Taxes     15,864     58,776     59,399     65,696     48,795     10,987     65,297
  Fixed charges     15,732     67,713     64,888     64,052     63,075     19,344     53,347
Deduct                                          
  Undistributed equity in earnings of unconsolidated affiliates     —     —     —     —     —     —     —
   
 
 
 
 
 
 
    Earnings     57,645     195,981     226,996     244,735     187,445     49,468     224,417
   
 
 
 
 
 
 

Fixed charges:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  Interest charges, excluding AFC — debt     13,769     59,863     57,038     56,202     55,225     17,818     53,347
  Distributions on redeemable preferred securities of subsidiary trust     1,963     7,850     7,850     7,850     7,850     1,526     —
   
 
 
 
 
 
 
    Total fixed charges   $ 15,732   $ 67,713   $ 64,888   $ 64,052   $ 63,075   $ 19,344   $ 53,347
   
 
 
 
 
 
 

Ratio of earnings to fixed charges
 
 
3.7
 
 
2.9
 
 
3.5
 
 
3.8
 
 
3.0
 
 
2.6
 
 
4.2
   
 
 
 
 
 
 


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SOUTHWESTERN PUBLIC SERVICE COMPANY STATEMENT OF COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES Thousands of Dollars