Attached files
| file | filename |
|---|---|
| 10-Q - WISCONSIN ELECTRIC MARCH 31, 2015 FORM 10-Q - WISCONSIN ELECTRIC POWER CO | wepco0331201510q.htm |
| EX-32.1 - WISCONSIN ELECTRIC EXHIBIT 32.1 - WISCONSIN ELECTRIC POWER CO | wepco03312015ex321.htm |
| EX-31.2 - WISCONSIN ELECTRIC EXHIBIT 31.2 - WISCONSIN ELECTRIC POWER CO | wepco03312015ex312.htm |
| EX-32.2 - WISCONSIN ELECTRIC EXHIBIT 32.2 - WISCONSIN ELECTRIC POWER CO | wepco03312015ex322.htm |
| EX-31.1 - WISCONSIN ELECTRIC EXHIBIT 31.1 - WISCONSIN ELECTRIC POWER CO | wepco03312015ex311.htm |
| EXCEL - IDEA: XBRL DOCUMENT - WISCONSIN ELECTRIC POWER CO | Financial_Report.xls |
EXHIBIT 12.1
WISCONSIN ELECTRIC POWER COMPANY
STATEMENT OF COMPUTATION OF
RATIO OF EARNINGS TO FIXED CHARGES
(Unaudited)
Three | |||||||||||||||||||||||
Months | |||||||||||||||||||||||
Ended | Twelve Months Ended | ||||||||||||||||||||||
3/31/2015 | 12/31/2014 | 12/31/2013 | 12/31/2012 | 12/31/2011 | 12/31/2010 | ||||||||||||||||||
(Millions of Dollars) | |||||||||||||||||||||||
Pre-tax Income | $ | 187.7 | $ | 593.1 | $ | 549.6 | $ | 548.5 | $ | 485.2 | $ | 470.8 | |||||||||||
Subtract: | |||||||||||||||||||||||
Capitalized Interest | (0.5 | ) | (1.8 | ) | (7.4 | ) | (14.5 | ) | (24.7 | ) | (13.5 | ) | |||||||||||
Earnings Before Adding Fixed Charges (a) | 187.2 | 591.3 | 542.2 | 534.0 | 460.5 | 457.3 | |||||||||||||||||
Fixed Charges | |||||||||||||||||||||||
Interest Expense | 29.2 | 118.3 | 128.8 | 127.7 | 118.9 | 115.0 | |||||||||||||||||
Estimated Interest Component of Rentals | 36.9 | 141.6 | 140.4 | 141.1 | 141.3 | 107.1 | |||||||||||||||||
Total Fixed Charges as Defined (b) | 66.1 | 259.9 | 269.2 | 268.8 | 260.2 | 222.1 | |||||||||||||||||
Total Earnings as Defined | $ | 253.3 | $ | 851.2 | $ | 811.4 | $ | 802.8 | $ | 720.7 | $ | 679.4 | |||||||||||
Ratio of Earnings to Fixed Charges | 3.8x | 3.3x | 3.0x | 3.0x | 2.8x | 3.1x | |||||||||||||||||
(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 consists of interest charges on our long-term and short-term borrowings (including a representative portion of lease expense, | |||||||||||||||||||||||
primarily related to our capital lease obligations to We Power under the Power the Future leases), capitalized interest and amortization of | |||||||||||||||||||||||
debt expenses. | |||||||||||||||||||||||