Years Ended December 31, | ||||||||||||||||
2007
|
2008
|
2009 | 2010 | 2011 | ||||||||||||
EARNINGS
|
||||||||||||||||
Income Before Income Taxes
|
$
|
204,394
|
$
|
190,133 | $ | 297,347 | $ | 189,517 | $ | 201,434 | ||||||
Fixed Charges (as below)
|
161,849
|
164,660 | 173,293 | 174,965 | 168,003 | |||||||||||
Total Earnings
|
$
|
366,243
|
$ | 354,793 | $ | 470,640 | $ | 364,482 | $ | 369,437 | ||||||
FIXED CHARGES
|
||||||||||||||||
Interest Expense
|
$
|
80,034
|
$ | 89,851 | $ | 101,145 | $ | 104,465 | $ | 97,665 | ||||||
Credit for Allowance for Borrowed Funds Used
During Construction
|
5,315
|
4,609 | 8,348 | 8,500 | 7,838 | |||||||||||
Estimated Interest Element in Lease Rentals | 76,500 | 70,200 | 63,800 | 62,000 | 62,500 | |||||||||||
Total Fixed Charges
|
$
|
161,849
|
$ | 164,660 | $ | 173,293 | $ | 174,965 | $ | 168,003 | ||||||
Ratio of Earnings to Fixed Charges
|
2.26
|
2.15 | 2.71 | 2.08 | 2.19 | |||||||||||