EX-12.3 4 lnt331201410-qex123.htm RATIO OF EARNINGS TO FIXED CHARGES FOR WPL LNT 3.31.2014 10-Q Ex 12.3


Exhibit 12.3

WISCONSIN POWER AND LIGHT COMPANY

RATIO OF EARNINGS TO FIXED CHARGES

 
Three Months Ended
 
 
 
 
 
 
 
March 31,
 
Years Ended December 31,
 
2014
 
2013
 
2013
2012
2011
2010
2009
 
(dollars in millions)
EARNINGS:
 
 
 
 
 
 
 
 
 
Net income

$54.8

 

$43.6

 

$177.5


$165.7


$163.5


$152.3


$89.5

Income taxes (a)
26.3

 
20.5

 
87.2

94.6

81.9

98.3

45.8

Income before income taxes
81.1

 
64.1

 
264.7

260.3

245.4

250.6

135.3

Fixed charges as defined
21.4

 
21.6

 
86.4

103.9

103.3

101.6

99.9

Adjustment for undistributed equity earnings
(2.0
)
 
(1.9
)
 
(8.3
)
(7.9
)
(6.4
)
(5.6
)
(7.1
)
Total earnings as defined

$100.5

 

$83.8

 

$342.8


$356.3


$342.3


$346.6


$228.1

 
 
 
 
 
 
 
 
 
 
FIXED CHARGES:
 
 
 
 
 
 
 
 
 
Interest expense

$21.1

 

$21.3

 

$85.0


$80.2


$79.9


$78.6


$74.8

Estimated interest component of rent expense
0.3

 
0.3

 
1.4

23.7

23.4

23.0

25.1

Total fixed charges as defined

$21.4

 

$21.6

 

$86.4


$103.9


$103.3


$101.6


$99.9

 
 
 
 
 
 
 
 
 
 
Ratio of Earnings to Fixed Charges
4.70

 
3.88

 
3.97

3.43

3.31

3.41

2.28


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