EX-12.1 2 a2018q2we10qexhibit121.htm WISCONSIN ELECTRIC EXHIBIT 12.1 Exhibit
Exhibit 12.1

WISCONSIN ELECTRIC POWER COMPANY

STATEMENT OF COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES (Unaudited)
 
Six Months Ended
June 30, 2018
 
Twelve Months Ended December 31
(in millions, except ratios)
 
 
2017
 
2016
 
2015
 
2014
 
2013
EARNINGS
 
 
 
 
 
 
 
 
 
 
 
 
Pre-tax income *
 
$
193.1

 
$
528.0

 
$
572.7

 
$
584.0

 
$
593.1

 
$
549.6

 
 
 
 
 
 
 
 
 
 
 
 
 
FIXED CHARGES
 
 
 
 
 
 
 
 
 
 
 
 
Interest expense
 
58.9

 
117.3

 
117.6

 
119.0

 
116.5

 
121.4

Capitalized interest
 
0.8

 
1.2

 
1.7

 
2.2

 
1.8

 
7.4

Estimated interest component of rentals
 
66.8

 
149.1

 
154.1

 
149.8

 
141.6

 
140.4

Total fixed charges as defined
 
126.5

 
267.6

 
273.4

 
271.0

 
259.9

 
269.2

 
 
 
 
 
 
 
 
 
 
 
 
 
Total earnings as defined
 
$
319.6

 
$
795.6

 
$
846.1

 
$
855.0

 
$
853.0

 
$
818.8

 
 
 
 
 
 
 
 
 
 
 
 
 
RATIO OF EARNINGS TO FIXED CHARGES
 
2.5x

 
3.0x

 
3.1x

 
3.2x

 
3.3x

 
3.0x


*
Pre-tax income consists of income before income taxes less undistributed earnings of equity investees.