MGE ENERGY INC - FORM 10-K - EX-12 - EXHIBIT 12.1: MGEE RATIO OF EARNINGS TO FIXED CHARGES - February 25, 2016

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EX-23 - EXHIBIT 23.1: MGEE CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM - MGE ENERGY INCex23_1.htm
10-K - FORM 10-K - MGE ENERGY INCf10k_2015.htm
EX-12 - EXHIBIT 12.2: MGE RATIO OF EARNINGS TO FIXED CHARGES - MGE ENERGY INCex12_2.htm
EX-21 - EXHIBIT 21: SUBSIDIARIES OF MGEE - MGE ENERGY INCex21.htm
EX-23 - EXHIBIT 23.2: MGE CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM - MGE ENERGY INCex23_2.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 32.3: MGE CEO SECTION 1350 CERTIFICATION - MGE ENERGY INCex32_3.htm
EX-32 - EXHIBIT 32.4: MGE CFO SECTION 1350 CERTIFICATION - MGE ENERGY INCex32_4.htm
10-K - FORM 10-K PDF - MGE ENERGY INCf10k_2015.pdf

EXHIBIT 12.1


MGE Energy, Inc.

Ratio of Earnings to Fixed Charges

Twelve Months Ended December 31, 2015

(In thousands)



Earnings


Net income

$71,343

Equity earnings

(7,701)

Income distribution from equity investees

6,645

Federal and state income taxes

41,363

Amortization of capitalized interest

527

Fixed charges

21,102

Total Earnings as Defined

$133,279

 


Fixed Charges


Interest expense on long-term debt and other

$19,256

Interest on rentals*

709

AFUDC - borrowed funds

231

Amortization of debt issuance costs

906

Total Fixed Charges

$21,102

 

 

Ratio of Earnings to Fixed Charges

6.32X


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

gives a reasonable approximation for actual interest on rentals.




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