Attached files
| file | filename |
|---|---|
| EX-31.1 - WISCONSIN PUBLIC SERVICE EXHIBIT 31.1 - WISCONSIN PUBLIC SERVICE CORP | a2015q3wps10-qexhibit311.htm |
| EX-32.1 - WISCONSIN PUBLIC SERVICE EXHIBIT 32.1 - WISCONSIN PUBLIC SERVICE CORP | a2015q3wps10-qexhibit321.htm |
| EX-32.2 - WISCONSIN PUBLIC SERVICE EXHIBIT 32.2 - WISCONSIN PUBLIC SERVICE CORP | a2015q3wps10-qexhibit322.htm |
| 10-Q - WISCONSIN PUBLIC SERVICE SEPTEMBER 30, 2015 FORM 10-Q - WISCONSIN PUBLIC SERVICE CORP | a2015q3wps10-q.htm |
| EX-31.2 - WISCONSIN PUBLIC SERVICE EXHIBIT 31.2 - WISCONSIN PUBLIC SERVICE CORP | a2015q3wps10-qexhibit312.htm |
EXHIBIT 12.1
WISCONSIN PUBLIC SERVICE CORPORATION
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES AND
RATIO OF EARNINGS TO FIXED CHARGES AND PREFERRED STOCK DIVIDEND REQUIREMENTS
(in millions, except ratios) | 2015 9 Months | 2014 | 2013 | 2012 | 2011 | 2010 | ||||||||||||||||||
EARNINGS | ||||||||||||||||||||||||
Net income from continuing operations | $114.2 | $140.7 | $137.9 | $134.8 | $125.9 | $135.0 | ||||||||||||||||||
Income tax expense | 67.9 | 84.7 | 81.9 | 62.6 | 73.2 | 78.0 | ||||||||||||||||||
Income from continuing operations before income taxes | 182.1 | 225.4 | 219.8 | 197.4 | 199.1 | 213.0 | ||||||||||||||||||
Less: Undistributed earnings of equity investees | (2.6) | (1.4) | (2.1) | (1.9) | (1.8) | (1.7) | ||||||||||||||||||
Adjusted income from continuing operations before income taxes | 179.5 | 224.0 | 217.7 | 195.5 | 197.3 | 211.3 | ||||||||||||||||||
Total fixed charges as defined | 45.5 | 63.5 | 48.9 | 44.8 | 51.3 | 56.9 | ||||||||||||||||||
Total earnings as defined | $225.0 | $287.5 | $266.6 | $240.3 | $248.6 | $268.2 | ||||||||||||||||||
FIXED CHARGES | ||||||||||||||||||||||||
Interest expense | $40.3 | $57.4 | $43.7 | $42.5 | $49.5 | $54.4 | ||||||||||||||||||
Allowance for funds used during construction | 4.2 | 4.6 | 3.8 | 0.9 | 0.2 | 0.3 | ||||||||||||||||||
Interest factor applicable to rentals | 1.0 | 1.5 | 1.4 | 1.4 | 1.6 | 2.2 | ||||||||||||||||||
Total fixed charges as defined | $45.5 | $63.5 | $48.9 | $44.8 | $51.3 | $56.9 | ||||||||||||||||||
Preferred stock dividend requirements * | 3.7 | 5.0 | 4.5 | 4.5 | 5.2 | 5.2 | ||||||||||||||||||
Total fixed charges and preferred stock dividend requirements | $49.2 | $68.5 | $53.8 | $49.3 | $56.5 | $62.1 | ||||||||||||||||||
RATIO OF EARNINGS TO FIXED CHARGES | 4.9 | 4.5 | 5.5 | 5.4 | 4.8 | 4.7 | ||||||||||||||||||
RATIO OF EARNINGS TO FIXED CHARGES AND PREFERRED STOCK DIVIDEND REQUIREMENTS | 4.6 | 4.2 | 5.0 | 4.9 | 4.4 | 4.3 | ||||||||||||||||||
* | Represents preferred stock dividend requirements of WPS computed by dividing the preferred stock dividend requirements by 100% minus the income tax rate. |