EXHIBIT 12.01(c)
PUBLIC SERVICE COMPANY OF COLORADO
COMPUTATION OF RATIO OF CONSOLIDATED EARNINGS
TO CONSOLIDATED FIXED CHARGES
YEAR ENDED DECEMBER 31,
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2003 2002 2001 2000 1999
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(IN THOUSANDS, EXCEPT RATIOS)
EARNINGS:
Net income $ 227,933 $ 264,680 $ 273,033 $ 196,128 $ 204,265
Provisions for Federal and state taxes on income 88,211 128,686 132,501 102,770 96,574
Fixed charges as below 263,395 237,765 226,651 244,952 234,544
Less: Undistributed equity in earnings of
unconsolidated affiliates -- -- -- -- --
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Total $ 579,539 $ 631,131 $ 632,185 $ 543,850 $ 535,383
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FIXED CHARGES:
Interest charges, excluding AFC -- debt $ 256,023 $ 223,021 $ 211,451 $ 229,752 $ 219,344
Distributions on redeemable preferred
securities of subsidiary trust 7,372 14,744 15,200 15,200 15,200
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Total $ 263,395 $ 237,765 $ 226,651 $ 244,952 $ 234,544
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RATIO OF EARNINGS TO FIXED CHARGES 2.2 2.7 2.8 2.2 2.3
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