MADISON GAS & ELECTRIC CO - FORM 10-K - EX-12 - RATIO OF EARNINGS TO FIXED CHARGES - February 25, 2010

Attached files

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10-K - FORM 10-K - MADISON GAS & ELECTRIC COf10k_2009.htm
EX-31 - CFO CERTIFICATION PURSUANT TO RULE 13A-14(A) AND 15D-14(A) - MADISON GAS & ELECTRIC COex31_4u.htm
EX-23 - CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM - MADISON GAS & ELECTRIC COex23_2u.htm
EX-31 - CEO CERTIFICATION PURSUANT TO RULE 13A-14(A) AND 15D-14(A) - MADISON GAS & ELECTRIC COex31_3u.htm
EX-32 - CEO CERTIFICATION PURSUANT TO 18 U.S.C. SECTION 1350 - MADISON GAS & ELECTRIC COex32_3u.htm
10-K - FORM 10-K PDF - MADISON GAS & ELECTRIC COf10k_2009.pdf
EX-32 - CFO CERTIFICATION PURSUANT TO 18 U.S.C. SECTION 1350 - MADISON GAS & ELECTRIC COex32_4u.htm

EXHIBIT 12.2


Madison Gas and Electric Company

Ratio of Earnings to Fixed Charges

Twelve Months Ended December 31, 2009

(In thousands)



Earnings


Net income before minority interest

$49,752

Equity earnings

(8,157)

Income distribution from equity investees

6,285

Minority interest in pre-tax income

(10,540)

Amortization of capitalized interest

102

Interest capitalized

(3,351)

Federal and state income taxes

27,311

Fixed charges

23,480

Total Earnings as Defined

$84,882

 


Fixed Charges


Interest expense on long-term debt and other

$15,834

Interest on rentals*

3,554

Amortization of debt issuance costs

547

AFUDC - borrowed funds

194

Capitalized interest

3,351

Total Fixed Charges

$23,480

 

 

Ratio of Earnings to Fixed Charges

3.62x


*Management believes that using one-third of the total rental expense

gives a reasonable approximation for actual interest on rentals.




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