EXHIBIT 12.01
PUBLIC SERVICE CO. OF COLORADO AND SUBSIDIARIES
STATEMENT OF COMPUTATION OF
RATIO OF EARNINGS TO FIXED CHARGES
(Thousands of Dollars, except ratio)
| | Pro Forma Six Months Ended June 30, | | | Six Months Ended June 30, | | | Pro Forma Year Ended Dec. 31, | | | Year Ended Dec. 31 | |
| | 2012 | | | 2012 | | | 2011 | | | 2011 | | | 2010 | | | 2009 | | | 2008 | | | 2007 | |
Earnings, as defined: | | | | | | | | | | | | | | | | | | | | | | | | |
Pretax income from operations | | $ | 310,033 | | | $ | 296,402 | | | $ | 653,012 | | | $ | 625,164 | | | $ | 628,901 | | | $ | 493,725 | | | $ | 506,424 | | | $ | 431,251 | |
Add: Fixed charges | | | 115,067 | | | | 128,697 | | | | 226,019 | | | | 253,867 | | | | 233,604 | | | | 224,041 | | | | 199,739 | | | | 311,377 | |
Total earnings, as defined | | $ | 425,100 | | | $ | 425,099 | | | $ | 879,031 | | | $ | 879,031 | | | $ | 862,505 | | | $ | 717,766 | | | $ | 706,163 | | | $ | 742,628 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Fixed charges, as defined: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Interest charges | | $ | 82,734 | | | $ | 96,365 | | | $ | 159,037 | | | $ | 186,885 | | | $ | 171,945 | | | $ | 166,212 | | | $ | 154,313 | | | $ | 180,230 | |
Interest charges on life insurance policy borrowings | | | 152 | | | | 152 | | | | 332 | | | | 332 | | | | 372 | | | | 324 | | | | 248 | | | | 105,396 | |
Interest component of leases | | | 32,180 | | | | 32,180 | | | | 66,650 | | | | 66,650 | | | | 61,287 | | | | 57,505 | | | | 45,178 | | | | 25,751 | |
Total fixed charges, as defined | | $ | 115,066 | | | $ | 128,697 | | | $ | 226,019 | | | $ | 253,867 | | | $ | 233,604 | | | $ | 224,041 | | | $ | 199,739 | | | $ | 311,377 | |
Ratio of earnings to fixed charges | | | 3.7 | | | | 3.3 | | | | 3.9 | | | | 3.5 | | | | 3.7 | | | | 3.2 | | | | 3.5 | | | | 2.4 | |