Exhibit 12
PUBLIC SERVICE COMPANY OF COLORADO
AND SUBSIDIARIES
COMPUTATION OF RATIO OF CONSOLIDATED EARNINGS
TO CONSOLIDATED FIXED CHARGES
Six Months
Ended
June 30, Year Ended December 31,
1996 1995 1994 1993 1992 1991
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(Thousands of Dollars, except ratios)
Fixed charges:
Interest on long-term debt $ 43,782 $ 85,832 $89,005 $ 98,089 $ 92,581 $ 81,666
Interest on borrowings against corporate-
owned life insurance contracts.......... 19,286 34,717 29,786 25,333 18,312 8,144
Other interest............................ 9,947 23,392 14,235 9,445 12,357 14,574
Amortization of debt discount and expense
less premium ........................... 1,842 3,278 3,126 2,018 1,790 1,827
Interest component of rental expense...... 5,379 6,729 6,888 6,824 7,904 6,892
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Total ................................. $ 80,236 $153,948 $143,040 $141,709 $132,944 $113,103
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Earnings (before fixed charges and taxes on income):
Net income............... $ 98,966 $178,856 $170,269 $157,360 $136,623 $149,693
Fixed charges as above.................... 80,236 153,948 143,040 141,709 132,944 113,103
Provisions for Federal and state taxes
on income, net of investment tax credit
amortization............................ 57,459 95,357 48,500 60,994 53,149 69,288
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Total.................................. $236,661 $428,161 $361,809 $360,063 $322,716 $332,084
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Ratio of earnings to fixed charges 2.95 2.78 2.53 2.54 2.43 2.94
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