Exhibit 12.01
EXHIBIT 12(a)
NORTHERN STATES POWER COMPANY — MINNESOTA
AND SUBSIDIARIES
COMPUTATION OF RATIO OF CONSOLIDATED EARNINGS
TO CONSOLIDATED FIXED CHARGES
(not covered by Report of Independent Auditor)
Year Ended December 31, | ||||||||||||||||||||||
2002 | 2001 | 2000 | 1999 | 1998 | ||||||||||||||||||
(in thousands, except ratios) | ||||||||||||||||||||||
Earnings: | ||||||||||||||||||||||
Net income | $ | 200,222 | $ | 207,865 | $ | 111,224 | $ | 158,980 | $ | 210,206 | ||||||||||||
Provisions for Federal and state taxes on income | 108,141 | 132,732 | 92,191 | 97,431 | 124,713 | |||||||||||||||||
Fixed charges as below | 123,220 | 112,780 | 146,192 | 125,431 | 113,160 | |||||||||||||||||
Less: Undistributed equity in earnings of unconsolidated affiliates | — | — | — | — | — | |||||||||||||||||
Total | $ | 431,583 | $ | 453,377 | $ | 349,607 | $ | 381,842 | $ | 448,079 | ||||||||||||
Fixed Charges: | ||||||||||||||||||||||
Interest charges, excluding AFC — debt | $ | 107,470 | $ | 97,030 | $ | 130,442 | $ | 109,681 | $ | 97,410 | ||||||||||||
Distributions on redeemable preferred securities of subsidiary trust | 15,750 | 15,750 | 15,750 | 15,750 | 15,750 | |||||||||||||||||
Total | $ | 123,220 | $ | 112,780 | $ | 146,192 | $ | 125,431 | $ | 113,160 | ||||||||||||
Ratio of earnings to fixed charges | 3.5 | 4.0 | 2.4 | 3.0 | 4.0 | |||||||||||||||||
EXHIBIT 12(b)
NORTHERN STATES POWER COMPANY — WISCONSIN
COMPUTATION OF RATIO OF EARNINGS
TO FIXED CHARGES
(not covered by Report of Independent Auditor)
Year Ended December 31, | ||||||||||||||||||||||
2002 | 2001 | 2000 | 1999 | 1998 | ||||||||||||||||||
(in thousands, except ratios) | ||||||||||||||||||||||
Earnings: | ||||||||||||||||||||||
Net income | $ | 54,373 | $ | 36,392 | $ | 30,296 | $ | 36,366 | $ | 32,195 | ||||||||||||
Provisions for Federal and state taxes on income | 36,925 | 21,158 | 20,690 | 25,302 | 20,468 | |||||||||||||||||
Fixed charges as below | 23,467 | 23,139 | 21,557 | 19,627 | 19,189 | |||||||||||||||||
Less: Undistributed equity in earnings of unconsolidated affiliates | 232 | 553 | 411 | 409 | 3 | |||||||||||||||||
Total | $ | 114,533 | $ | 80,136 | $ | 72,132 | $ | 80,886 | $ | 71,849 | ||||||||||||
Fixed Charges: | ||||||||||||||||||||||
Interest charges, excluding AFC — debt | $ | 23,467 | $ | 23,139 | $ | 21,557 | $ | 19,627 | $ | 19,189 | ||||||||||||
Distributions on redeemable preferred securities of subsidiary trust | — | — | — | — | — | |||||||||||||||||
Total | $ | 23,467 | $ | 23,139 | $ | 21,557 | $ | 19,627 | $ | 19,189 | ||||||||||||
Ratio of earnings to fixed charges | 4.9 | 3.5 | 3.3 | 4.1 | 3.7 | |||||||||||||||||
EXHIBIT 12(c)
PUBLIC SERVICE COMPANY OF COLORADO
AND SUBSIDIARIES
COMPUTATION OF RATIO OF CONSOLIDATED EARNINGS
TO CONSOLIDATED FIXED CHARGES
(not covered by Report of Independent Auditor)
Year Ended December 31, | ||||||||||||||||||||||
2002 | 2001 | 2000 | 1999 | 1998 | ||||||||||||||||||
(in thousands, except ratios) | ||||||||||||||||||||||
Earnings: | ||||||||||||||||||||||
Net income | $ | 264,680 | $ | 273,033 | $ | 196,128 | $ | 204,265 | $ | 200,103 | ||||||||||||
Provisions for Federal and state taxes on income | 128,686 | 132,501 | 102,770 | 96,574 | 101,494 | |||||||||||||||||
Fixed charges as below | 237,765 | 226,651 | 244,952 | 234,544 | 210,539 | |||||||||||||||||
Less: Undistributed equity in earnings of unconsolidated affiliates | — | — | — | — | — | |||||||||||||||||
Total | $ | 631,131 | $ | 632,185 | $ | 543,850 | $ | 535,383 | $ | 512,136 | ||||||||||||
Fixed Charges: | ||||||||||||||||||||||
Interest charges, excluding AFC — debt | $ | 223,021 | $ | 211,451 | $ | 229,752 | $ | 219,344 | $ | 200,828 | ||||||||||||
Distributions on redeemable preferred securities of subsidiary trust | 14,744 | 15,200 | 15,200 | 15,200 | 9,711 | |||||||||||||||||
Total | $ | 237,765 | $ | 226,651 | $ | 244,952 | $ | 234,544 | $ | 210,539 | ||||||||||||
Ratio of earnings to fixed charges | 2.7 | 2.8 | 2.2 | 2.3 | 2.4 | |||||||||||||||||
EXHIBIT 12(d)
SOUTHWESTERN PUBLIC SERVICE COMPANY
AND SUBSIDIARIES
COMPUTATION OF RATIO OF EARNINGS
TO FIXED CHARGES
(not covered by Report of Independent Auditor)
Year Ended December 31, | ||||||||||||||||||||||
2002 | 2001 | 2000 | 1999 | 1998 | ||||||||||||||||||
(in thousands, except ratios) | ||||||||||||||||||||||
Earnings: | ||||||||||||||||||||||
Net income | $ | 73,882 | $ | 130,100 | $ | 69,492 | $ | 102,709 | $ | 114,987 | ||||||||||||
Provisions for Federal and state taxes on income | 43,363 | 71,175 | 58,776 | 59,399 | 65,696 | |||||||||||||||||
Fixed charges as below | 54,913 | 57,276 | 67,713 | 64,888 | 64,052 | |||||||||||||||||
Less: Undistributed equity in earnings of unconsolidated affiliates | — | — | — | — | — | |||||||||||||||||
Total | $ | 172,158 | $ | 258,551 | $ | 195,981 | $ | 226,996 | $ | 244,735 | ||||||||||||
Fixed Charges: | ||||||||||||||||||||||
Interest charges, excluding AFC — debt | $ | 47,063 | $ | 49,426 | $ | 59,863 | $ | 57,038 | $ | 56,202 | ||||||||||||
Distributions on redeemable preferred securities of subsidiary trust | 7,850 | 7,850 | 7,850 | 7,850 | 7,850 | |||||||||||||||||
Total | $ | 54,913 | $ | 57,276 | $ | 67,713 | $ | 64,888 | $ | 64,052 | ||||||||||||
Ratio of earnings to fixed charges | 3.1 | 4.5 | 2.9 | 3.5 | 3.8 | |||||||||||||||||