Exhibit 12.01
NORTHERN STATES POWER COMPANY - MINNESOTA (CONSOLIDATED)
STATEMENT OF COMPUTATION OF
RATIO OF EARNINGS TO FIXED CHARGES
(Thousands of Dollars)
|
| Year Ended December 31, |
| |||||||||||||
|
| 2007 |
| 2006 |
| 2005 |
| 2004 |
| 2003 |
| |||||
|
|
|
|
|
|
|
|
|
|
|
| |||||
Earnings as defined: |
|
|
|
|
|
|
|
|
|
|
| |||||
Pretax income from continuing operations |
| $ | 449,327 |
| $ | 399,916 |
| $ | 349,527 |
| $ | 324,887 |
| $ | 269,466 |
|
Add: Fixed charges |
| 211,660 |
| 176,169 |
| 158,352 |
| 150,610 |
| 153,352 |
| |||||
Earnings as defined |
| $ | 660,987 |
| $ | 576,085 |
| $ | 507,879 |
| $ | 475,497 |
| $ | 422,818 |
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
Fixed charges: |
|
|
|
|
|
|
|
|
|
|
| |||||
Interest charges |
| $ | 186,293 |
| $ | 165,381 |
| $ | 150,261 |
| $ | 142,147 |
| $ | 135,764 |
|
Interest component of operating leases |
| 25,367 |
| 10,788 |
| 8,091 |
| 8,463 |
| 8,401 |
| |||||
Distributions on redeemable preferred securities of subsidiary trust |
| — |
| — |
| — |
| — |
| 9,187 |
| |||||
Total fixed charges |
| $ | 211,660 |
| $ | 176,169 |
| $ | 158,352 |
| $ | 150,610 |
| $ | 153,352 |
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
Ratio of earnings to fixed charges |
| 3.1 |
| 3.3 |
| 3.2 |
| 3.2 |
| 2.8 |
|