WISCONSIN POWER & LIGHT CO - FORM 10-Q - EX-12.2 - RATIO OF EARNINGS TO FIXED CHARGES FOR IPL - May 5, 2016

Attached files

file filename
EX-31.2 - CERTIFICATION OF THE SENIOR VICE PRESIDENT AND CFO FOR ALLIANT ENERGY - WISCONSIN POWER & LIGHT COlnt331201610-qex312.htm
EX-31.1 - CERTIFICATION OF THE CHAIRMAN, PRESIDENT AND CEO FOR ALLIANT ENERGY - WISCONSIN POWER & LIGHT COlnt331201610-qex311.htm
EX-12.3 - RATIO OF EARNINGS TO FIXED CHARGES FOR WPL - WISCONSIN POWER & LIGHT COlnt331201610-qex123.htm
EX-31.5 - CERTIFICATION OF THE CHAIRMAN AND CEO FOR WPL - WISCONSIN POWER & LIGHT COlnt331201610-qex315.htm
EX-31.6 - CERTIFICATION OF THE SENIOR VICE PRESIDENT AND CFO FOR WPL - WISCONSIN POWER & LIGHT COlnt331201610-qex316.htm
10-Q - 10-Q - WISCONSIN POWER & LIGHT COlnt331201610-q.htm
EX-3.1 - ARTICLES OF AMENDMENT TO RESTATED ARTICLES OF INCORPORATION - WISCONSIN POWER & LIGHT COlnt331201610-qex31.htm
EX-12.1 - RATIO OF EARNINGS TO FIXED CHARGES FOR ALLIANT ENERGY - WISCONSIN POWER & LIGHT COlnt331201610-qex121.htm
EX-31.3 - CERTIFICATION OF THE CHAIRMAN AND CEO FOR IPL - WISCONSIN POWER & LIGHT COlnt331201610-qex313.htm
EX-32.2 - WRITTEN STATEMENT OF CEO AND CFO PURSUANT TO 18 U.S.C.1350 FOR IPL - WISCONSIN POWER & LIGHT COlnt331201610-qex322.htm
EX-31.4 - CERTIFICATION OF THE SENIOR VICE PRESIDENT AND CFO FOR IPL - WISCONSIN POWER & LIGHT COlnt331201610-qex314.htm
EX-32.1 - WRITTEN STATEMENT OF CEO AND CFO PURSUANT TO 18 U.S.C.1350 FOR ALLIANT ENERGY - WISCONSIN POWER & LIGHT COlnt331201610-qex321.htm
EX-32.3 - WRITTEN STATEMENT OF CEO AND CFO PURSUANT TO 18 U.S.C.1350 FOR WPL - WISCONSIN POWER & LIGHT COlnt331201610-qex323.htm


Exhibit 12.2

INTERSTATE POWER AND LIGHT COMPANY

RATIO OF EARNINGS TO FIXED CHARGES AND RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED DIVIDEND REQUIREMENTS

 
Three Months Ended

 
 
 
 
 
 
March 31,
 
Years Ended December 31,
 
2016
 
2015
 
2015
2014
2013
2012
2011
 
(dollars in millions)
EARNINGS:
 
 
 
 
 
 
 
 
 
Net income

$48.2

 

$50.1

 

$196.2


$191.8


$188.3


$158.3


$139.3

Income tax benefit (a)
(0.8
)
 
(3.3
)
 
(22.7
)
(48.9
)
(36.3
)
(27.9
)
(3.6
)
Income before income taxes
47.4

 
46.8

 
173.5

142.9

152.0

130.4

135.7

Fixed charges as defined
25.0

 
24.6

 
97.2

91.0

82.3

79.3

79.6

Total earnings as defined

$72.4

 

$71.4

 

$270.7


$233.9


$234.3


$209.7


$215.3

 
 
 
 
 
 
 
 
 
 
FIXED CHARGES:
 
 
 
 
 
 
 
 
 
Interest expense

$24.9

 

$24.1

 

$96.8


$89.9


$81.3


$78.5


$78.7

Estimated interest component of rent expense
0.1

 
0.5

 
0.4

1.1

1.0

0.8

0.9

Total fixed charges as defined

$25.0

 

$24.6

 

$97.2


$91.0


$82.3


$79.3


$79.6

 
 
 
 
 
 
 
 
 
 
Ratio of Earnings to Fixed Charges
2.90

 
2.90

 
2.78

2.57

2.85

2.64

2.70

 
 
 
 
 
 
 
 
 
 
Preferred dividend requirements (pre-tax basis) (b)

$2.6

 

$2.4

 

$9.0


$7.6


$8.7


$10.4


$14.6

 
 
 
 
 
 
 
 
 
 
Fixed charges and preferred dividend requirements

$27.6

 

$27.0

 

$106.2


$98.6


$91.0


$89.7


$94.2

 
 
 
 
 
 
 
 
 
 
Ratio of Earnings to Combined Fixed Charges and Preferred Dividend Requirements
2.62

 
2.64

 
2.55

2.37

2.57

2.34

2.29


(a) Includes net interest related to unrecognized tax benefits.

(b) Preferred dividend requirements (pre-tax basis) are computed by dividing the preferred dividend requirements by one hundred percent minus the respective year-to-date effective income tax rate. Excludes the impact of charges related to Interstate Power and Light Company’s preferred stock redemption in 2013.

In the fourth quarter of 2015, IPL retrospectively applied a change in method of recording income taxes. Refer to Notes 1(c) and 1(q) of the Combined Notes to Consolidated Financial Statements in the Annual Report on Form 10-K for the year 2015 for further details. Financial statement impacts in 2013, 2012 and 2011 were not material.