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SOUTHWESTERN PUBLIC SERVICE CO.
STATEMENT OF COMPUTATION OF
RATIO OF EARNINGS TO FIXED CHARGES
(Thousands of Dollars)
| Six Months Ended June 30, | Year Ended December 31, | ||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2008 | 2007 | 2006 | 2005 | 2004 | 2003 | ||||||||||||||||
Earnings as defined: | ||||||||||||||||||||||
Pretax income from continuing operations | $ | 4,826 | $ | 55,596 | $ | 76,040 | $ | 100,178 | $ | 86,136 | $ | 133,634 | ||||||||||
Add: Fixed charges | 28,193 | 57,247 | 56,849 | 55,510 | 54,489 | 55,561 | ||||||||||||||||
Earnings as defined | $ | 33,019 | $ | 112,843 | $ | 132,889 | $ | 155,688 | $ | 140,625 | $ | 189,195 | ||||||||||
Fixed charges: | ||||||||||||||||||||||
Interest charges | $ | 27,484 | $ | 55,261 | $ | 55,739 | $ | 54,084 | $ | 53,528 | $ | 48,304 | ||||||||||
Interest component of operating leases | 709 | 1,986 | 1,110 | 1,426 | 961 | 1,085 | ||||||||||||||||
Distributions on redeemable preferred securities of subsidiary trust | — | — | — | — | — | 6,172 | ||||||||||||||||
Total fixed charges | $ | 28,193 | $ | 57,247 | $ | 56,849 | $ | 55,510 | $ | 54,489 | $ | 55,561 | ||||||||||
Ratio of earnings to fixed charges | 1.2 | 2.0 | 2.3 | 2.8 | 2.6 | 3.4 | ||||||||||||||||