Exhibit 12.01
COMPUTATION OF RATIO OF
EARNINGS TO FIXED CHARGES
SOUTHWESTERN PUBLIC SERVICE COMPANY
AND SUBSIDIARIES
COMPUTATION OF RATIO OF CONSOLIDATED EARNINGS
TO CONSOLIDATED FIXED CHARGES
(not covered by Report of Independent Public Accountants)
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| Three Months Ended |
| Year Ended December 31, |
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| March 31, 2006 |
| 2005 |
| 2004 |
| 2003 |
| 2002 |
| 2001 |
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Earnings as defined: |
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Pretax income |
| $ | 18,766 |
| $ | 100,178 |
| $ | 86,136 |
| $ | 133,634 |
| $ | 117,245 |
| $ | 201,275 |
|
Add fixed charges |
| $ | 13,762 |
| 54,189 |
| 53,528 |
| 54,476 |
| 54,912 |
| 57,276 |
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Earnings as defined |
| $ | 32,528 |
| $ | 154,367 |
| $ | 139,664 |
| $ | 188,110 |
| $ | 172,157 |
| $ | 258,551 |
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Fixed Charges: |
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Interest charges |
| $ | 13,692 |
| $ | 54,189 |
| $ | 53,528 |
| $ | 48,304 |
| $ | 47,062 |
| $ | 49,426 |
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Interest component of rent |
| $ | 70 |
| — |
| — |
| — |
| — |
| — |
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Distributions on redeemable preferred securities of subsidiary trust |
| — |
| — |
| — |
| 6,172 |
| 7,850 |
| 7,850 |
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Total |
| $ | 13,762 |
| $ | 54,189 |
| $ | 53,528 |
| $ | 54,476 |
| $ | 54,912 |
| $ | 57,276 |
|
Ratio of earnings to fixed charges |
| 2.4 |
| 2.8 |
| 2.6 |
| 3.5 |
| 3.1 |
| 4.5 |
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