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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| 2007 |
| 2006 |
| 2005 |
| 2004 |
| 2003 |
| 2002 |
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Earnings: |
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Net Income |
| $ | 42,503 |
| $ | 272,310 |
| $ | 237,744 |
| $ | 230,274 |
| $ | 192,942 |
| $ | 200,222 |
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Add: |
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Income Taxes |
| 21,671 |
| 127,606 |
| 111,783 |
| 94,613 |
| 76,524 |
| 108,141 |
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Fixed charges |
| 47,319 |
| 176,169 |
| 158,352 |
| 150,610 |
| 153,352 |
| 132,830 |
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Earnings |
| $ | 111,493 |
| $ | 576,085 |
| $ | 507,879 |
| $ | 475,497 |
| $ | 422,818 |
| $ | 441,193 |
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Fixed charges: |
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Interest charges, excluding AFC - debt, per statement of income |
| $ | 47,319 |
| $ | 176,169 |
| $ | 158,352 |
| $ | 150,610 |
| $ | 144,165 |
| $ | 117,080 |
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Distributions on redeemable preferred securities of subsidiary trust |
| — |
| — |
| — |
| — |
| 9,187 |
| 15,750 |
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Total fixed charges |
| $ | 47,319 |
| $ | 176,169 |
| $ | 158,352 |
| $ | 150,610 |
| $ | 153,352 |
| $ | 132,830 |
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Ratio of earnings to fixed charges |
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| 2.4 |
| 3.3 |
| 3.2 |
| 3.2 |
| 2.8 |
| 3.3 |
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