Attached files
| file | filename |
|---|---|
| EXCEL - IDEA: XBRL DOCUMENT - WISCONSIN ELECTRIC POWER CO | Financial_Report.xls |
| EX-31.2 - WISCONSIN ELECTRIC EXHIBIT 31.2 - WISCONSIN ELECTRIC POWER CO | wepco-ex312x03312012.htm |
| EX-31.1 - WISCONSIN ELECTRIC EXHIBIT 31.1 - WISCONSIN ELECTRIC POWER CO | wepco-ex311x03312012.htm |
| EX-32.2 - WISCONSIN ELECTRIC EXHIBIT 32.2 - WISCONSIN ELECTRIC POWER CO | wepco-ex322x03312012.htm |
| EX-32.1 - WISCONSIN ELECTRIC EXHIBIT 32.1 - WISCONSIN ELECTRIC POWER CO | wepco-ex321x03312012.htm |
| 10-Q - WISCONSIN ELECTRIC MARCH 31, 2012 FORM 10-Q - WISCONSIN ELECTRIC POWER CO | wepco0331201210q.htm |
EXHIBIT 12.1
WISCONSIN ELECTRIC POWER COMPANY
STATEMENT OF COMPUTATION OF
RATIO OF EARNINGS TO FIXED CHARGES
(Unaudited)
Three | |||||||||||||||||||||||||||
Months | |||||||||||||||||||||||||||
Ended | Twelve Months Ended | ||||||||||||||||||||||||||
3/31/2012 | 3/31/2012 | 12/31/2011 | 12/31/2010 | 12/31/2009 | 12/31/2008 | 12/31/2007 | |||||||||||||||||||||
(Millions of Dollars) | |||||||||||||||||||||||||||
Pre-tax Income | $ | 174.3 | $ | 505.2 | $ | 485.2 | $ | 470.8 | $ | 435.3 | $ | 439.4 | $ | 468.7 | |||||||||||||
Subtract: | |||||||||||||||||||||||||||
Capitalized Interest | (6.1 | ) | (25.8 | ) | (24.7 | ) | (13.5 | ) | (6.6 | ) | (3.0 | ) | (1.8 | ) | |||||||||||||
Earnings Before Adding Fixed Charges (a) | 168.2 | 479.4 | 460.5 | 457.3 | 428.7 | 436.4 | 466.9 | ||||||||||||||||||||
Fixed Charges | |||||||||||||||||||||||||||
Interest on Long-Term Debt | 30.8 | 119.0 | 116.7 | 113.7 | 104.2 | 77.7 | 82.6 | ||||||||||||||||||||
Other Interest Expense | 0.5 | 2.0 | 2.2 | 1.3 | 2.7 | 11.9 | 12.2 | ||||||||||||||||||||
Estimated Interest Component of Rentals | 35.2 | 142.4 | 141.3 | 107.1 | 65.6 | 57.6 | 48.5 | ||||||||||||||||||||
Total Fixed Charges as Defined (b) | 66.5 | 263.4 | 260.2 | 222.1 | 172.5 | 147.2 | 143.3 | ||||||||||||||||||||
Total Earnings as Defined | $ | 234.7 | $ | 742.8 | $ | 720.7 | $ | 679.4 | $ | 601.2 | $ | 583.6 | $ | 610.2 | |||||||||||||
Ratio of Earnings to Fixed Charges | 3.5x | 2.8x | 2.8x | 3.1x | 3.5x | 4.0x | 4.3x | ||||||||||||||||||||
(a) Earnings before adding fixed charges is determined by starting with pre-tax income (less undistributed equity in earnings of unconsolidated affiliates) | |||||||||||||||||||||||||||
and subtracting capitalized interest. | |||||||||||||||||||||||||||
(b) Fixed Charges consist of interest charges on our long-term debt and short-term borrowings (including a representative portion of lease expense), | |||||||||||||||||||||||||||
capitalized interest and amortization of debt expense. | |||||||||||||||||||||||||||