EX-12.1 3 a2018q1wec10qexhibit121.htm WEC ENERGY GROUP EXHIBIT 12.1 Exhibit
Exhibit 12.1

WEC ENERGY GROUP, INC.

STATEMENT OF COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES (Unaudited)
 
Three Months Ended
March 31, 2018
 
Twelve Months Ended December 31
(in millions, except ratios)
 
 
2017
 
2016
 
2015
 
2014
 
2013
EARNINGS
 
 
 
 
 
 
 
 
 
 
 
 
Pre-tax income *
 
$
445.6

 
$
1,587.2

 
$
1,495.2

 
$
1,063.5

 
$
942.6

 
$
902.4

Add:
 
 
 
 
 
 
 
 
 
 
 
 
    Nonutility amortization of capitalized interest
 
1.8

 
7.3

 
7.3

 
7.3

 
7.3

 
7.3

Subtract:
 
 
 
 
 
 
 
 
 
 
 
 
    Nonutility capitalized interest
 
(0.3
)
 
(1.7
)
 
(1.0
)
 
(1.2
)
 
(0.7
)
 
(1.7
)
    Preferred stock dividends of subsidiary
 
(0.3
)
 
(1.4
)
 
(1.6
)
 
(2.6
)
 
(1.6
)
 
(1.6
)
Earnings before adding fixed charges
 
446.8

 
1,591.4

 
1,499.9

 
1,067.0

 
947.6

 
906.4

 
 
 
 
 
 
 
 
 
 
 
 
 
FIXED CHARGES
 
 
 
 
 
 
 
 
 
 
 
 
Interest expense
 
106.7

 
415.7

 
402.7

 
331.4

 
240.3

 
250.9

Capitalized interest
 
1.5

 
4.9

 
10.9

 
8.6

 
3.0

 
9.4

Estimated interest component of rentals
 
1.1

 
5.7

 
16.5

 
19.0

 
15.9

 
15.7

Preferred stock dividends of subsidiary
 
0.3

 
1.4

 
1.6

 
2.6

 
1.6

 
1.6

Total fixed charges as defined
 
109.6

 
427.7

 
431.7

 
361.6

 
260.8

 
277.6

 
 
 
 
 
 
 
 
 
 
 
 
 
Total earnings as defined
 
$
556.4

 
$
2,019.1

 
$
1,931.6

 
$
1,428.6

 
$
1,208.4

 
$
1,184.0

 
 
 
 
 
 
 
 
 
 
 
 
 
RATIO OF EARNINGS TO FIXED CHARGES
 
5.1x

 
4.7x

 
4.5x

 
4.0x

 
4.6x

 
4.3x


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