Wisconsin Electric Power Company PFD 3.60% (WELPP)
Filed: 5 Jan 18, 12:00am
Exhibit 12.1
WISCONSIN ELECTRIC POWER COMPANY
STATEMENT OF COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(Unaudited)
| Nine Months | ||||||||||||||||||||||||
| Ended | Twelve Months Ended | |||||||||||||||||||||||
| (Millions, except ratios) | 09/30/17 | 12/31/16 | 12/31/15 | 12/31/14 | 12/31/13 | 12/31/12 | ||||||||||||||||||
| EARNINGS | ||||||||||||||||||||||||
| Pre-tax income * | $ | 417.6 | $ | 572.7 | $ | 584.0 | $ | 593.1 | $ | 549.6 | $ | 548.5 | ||||||||||||
| FIXED CHARGES | ||||||||||||||||||||||||
| Interest expense | 88.0 | 117.6 | 119.0 | 116.5 | 121.4 | 113.2 | ||||||||||||||||||
| Capitalized interest | 0.8 | 1.7 | 2.2 | 1.8 | 7.4 | 14.5 | ||||||||||||||||||
| Estimated interest component of rentals | 111.3 | 154.1 | 149.8 | 141.6 | 140.4 | 141.1 | ||||||||||||||||||
| Total fixed charges as defined | 200.1 | 273.4 | 271.0 | 259.9 | 269.2 | 268.8 | ||||||||||||||||||
| Total earnings as defined | $ | 617.7 | $ | 846.1 | $ | 855.0 | $ | 853.0 | $ | 818.8 | $ | 817.3 | ||||||||||||
| RATIO OF EARNINGS TO FIXED CHARGES | 3.1x | 3.1x | 3.2x | x | 3.3x | 3.0x | 3.0x | |||||||||||||||||
* Pre-tax income consists of income before income taxes less undistributed earnings of equity investees.