Exhibit 12.01
NORTHERN STATES POWER COMPANY - MINNESOTA (CONSOLIDATED)
STATEMENT OF COMPUTATION OF
RATIO OF EARNINGS TO FIXED CHARGES
Thousands of Dollars
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| March 31, |
| December 31, |
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| 2006 |
| 2005 |
| 2004 |
| 2003 |
| 2002 |
| 2001 |
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Earnings: |
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Net Income |
| $ | 58,942 |
| $ | 237,744 |
| $ | 230,274 |
| $ | 192,942 |
| $ | 200,222 |
| $ | 207,865 |
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Add: |
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Income Taxes |
| 31,825 |
| 111,783 |
| 94,613 |
| 76,524 |
| 108,141 |
| 132,732 |
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Fixed charges |
| 40,303 |
| 151,396 |
| 142,147 |
| 144,951 |
| 123,220 |
| 112,780 |
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Earnings |
| $ | 131,070 |
| $ | 500,923 |
| $ | 467,034 |
| $ | 414,417 |
| $ | 431,583 |
| $ | 453,377 |
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Fixed charges: |
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Interest charges, excluding AFC - debt, per statement of income |
| $ | 40,303 |
| $ | 151,396 |
| $ | 142,147 |
| $ | 135,764 |
| $ | 107,470 |
| $ | 97,030 |
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Distributions on redeemable preferred securities of subsidiary trust |
| — |
| — |
| — |
| 9,187 |
| 15,750 |
| 15,750 |
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Total fixed charges |
| $ | 40,303 |
| $ | 151,396 |
| $ | 142,147 |
| $ | 144,951 |
| $ | 123,220 |
| $ | 112,780 |
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Ratio of earnings to fixed charges |
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| 3.3 |
| 3.3 |
| 3.3 |
| 2.9 |
| 3.5 |
| 4.0 |
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