Attached files
Exhibit 12.3
WISCONSIN POWER AND LIGHT COMPANY
RATIO OF EARNINGS TO FIXED CHARGES
Three Months Ended | |||||||||||||||||||||||
March 31, | Years Ended December 31, | ||||||||||||||||||||||
2018 | 2017 | 2017 | 2016 | 2015 | 2014 | 2013 | |||||||||||||||||
(dollars in millions) | |||||||||||||||||||||||
EARNINGS: | |||||||||||||||||||||||
Net income | $54.0 | $45.5 | $186.6 | $192.8 | $177.6 | $181.1 | $179.1 | ||||||||||||||||
Income taxes (a) | 11.7 | 20.4 | 61.9 | 93.3 | 82.9 | 85.3 | 85.6 | ||||||||||||||||
Income before income taxes | 65.7 | 65.9 | 248.5 | 286.1 | 260.5 | 266.4 | 264.7 | ||||||||||||||||
Fixed charges as defined | 25.0 | 23.3 | 95.2 | 92.7 | 93.7 | 87.7 | 86.4 | ||||||||||||||||
Adjustment for undistributed equity earnings | (0.4 | ) | — | (0.6 | ) | (11.5 | ) | (4.5 | ) | (6.4 | ) | (8.3 | ) | ||||||||||
Total earnings as defined | $90.3 | $89.2 | $343.1 | $367.3 | $349.7 | $347.7 | $342.8 | ||||||||||||||||
FIXED CHARGES: | |||||||||||||||||||||||
Interest expense | $24.7 | $22.9 | $93.8 | $91.4 | $92.4 | $86.4 | $85.0 | ||||||||||||||||
Estimated interest component of rent expense | 0.3 | 0.4 | 1.4 | 1.3 | 1.3 | 1.3 | 1.4 | ||||||||||||||||
Total fixed charges as defined | $25.0 | $23.3 | $95.2 | $92.7 | $93.7 | $87.7 | $86.4 | ||||||||||||||||
Ratio of Earnings to Fixed Charges | 3.61 | 3.83 | 3.60 | 3.96 | 3.73 | 3.96 | 3.97 |
(a) Includes net interest related to unrecognized tax benefits.