MGE ENERGY INC - FORM 10-Q - EX-12 - EXHIBIT 12: MGE RATIO OF EARNINGS TO FIXED CHARGES - November 6, 2014

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EX-32 - EXHIBIT 32.3: MGE CEO SECTION 1350 CERTIFICATION - MGE ENERGY INCex32_3.htm
10-Q - FORM 10-Q - MGE ENERGY INCf10q_20140930.htm
EX-31 - EXHIBIT 31.1: MGEE CEO RULE 13A-14/15D-14 CERTIFICATION - MGE ENERGY INCex31_1.htm
EX-31 - EXHIBIT 31.2: MGEE CFO RULE 13A-14/15D-14 CERTIFICATION - MGE ENERGY INCex31_2.htm
EX-31 - EXHIBIT 31.3: MGE CEO RULE 13A-14/15D-14 CERTIFICATION - MGE ENERGY INCex31_3.htm
EX-31 - EXHIBIT 31.4: MGE CFO RULE 13A-14/15D-14 CERTIFICATION - MGE ENERGY INCex31_4.htm
EX-32 - EXHIBIT 32.1: MGEE CEO SECTION 1350 CERTIFICATION - MGE ENERGY INCex32_1.htm
EX-32 - EXHIBIT 32.2: MGEE CFO SECTION 1350 CERTIFICATION - MGE ENERGY INCex32_2.htm
EX-32 - EXHIBIT 32.4: MGE CFO SECTION 1350 CERTIFICATION - MGE ENERGY INCex32_4.htm
10-Q - FORM 10-Q PDF - MGE ENERGY INCf10q_20140930.pdf
EXCEL - IDEA: XBRL DOCUMENT - MGE ENERGY INCFinancial_Report.xls

EXHIBIT 12


Madison Gas and Electric Company

Ratio of Earnings to Fixed Charges

Nine Months Ended September 30, 2014

(In thousands)



Earnings


Net income before minority interest

$65,255

Equity earnings

(7,306)

Income distribution from equity investees

5,762

Minority interest in pretax income

(3,300)

Amortization of capitalized interest

396

Federal and state income taxes

39,570

Fixed charges

16,433

Total Earnings as Defined

$116,810

 


Fixed Charges


Interest expense on long-term debt and other

$14,151

Interest on rentals*

667

Amortization of debt issuance costs

525

AFUDC - borrowed funds

1,090

Total Fixed Charges

$16,433

 

 

Ratio of Earnings to Fixed Charges

7.11X


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

gives a reasonable approximation for actual interest on rentals.




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