EXHIBIT 12.1 | ||||||||||
Page 1 of 2 | ||||||||||
WISCONSIN GAS COMPANY | ||||||||||
STATEMENT OF COMPUTATION OF | ||||||||||
RATIO OF EARNINGS TO FIXED CHARGES | ||||||||||
(Unaudited) | ||||||||||
Twelve Months Ended | ||||||||||
12/31/03 | 12/31/02 | 12/31/01 | 12/31/00 | 12/31/99 | ||||||
(Millions of Dollars) | ||||||||||
Income Before Income Taxes and the | ||||||||||
Cumulative Effect of Change in Accounting Principle | $57.4 | $53.0 | $24.3 | $28.6 | $42.0 | |||||
Fixed Charges | ||||||||||
Interest on Long-Term Debt (a) | 10.5 | 10.1 | 10.1 | 10.1 | 9.9 | |||||
Interest Expense - WICOR | - | - | 11.5 | 11.0 | - | |||||
Other Interest Expense | 3.2 | 2.7 | 5.5 | 4.2 | 2.7 | |||||
Total Fixed Charges As Defined | 13.7 | 12.8 | 27.1 | 25.3 | 12.6 | |||||
Total Earnings as Defined | $71.1 | $65.8 | $51.4 | $53.9 | $54.6 | |||||
Ratio of Earnings to Fixed Charges | 5.2x | 5.1x | 1.9x | 2.1x | 4.3x | |||||
(a) Includes amortization of debt premium, discount and expense. |
EXHIBIT 12. 1 |
WISCONSIN GAS COMPANY | ||||||
STATEMENT OF COMPUTATION OF | ||||||
RATIO OF EARNINGS TO FIXED CHARGES | ||||||
(Unaudited) | ||||||
Predecessor | ||||||
Period From | Period From | |||||
April 27, | January 1, | |||||
2000 | 2000 | |||||
Through | Through | |||||
December 31, | April 26, | |||||
2000 (a) | 2000 | |||||
(Millions of Dollars) | ||||||
Income Before Income Taxes and the | ||||||
Cumulative Effect of Change in Accounting Principle | ($5.9) | $34.5 | ||||
Fixed Charges | ||||||
Interest Charges | ||||||
Interest on Long-Term Debt (b) | 6.7 | 3.4 | ||||
Interest Expense - WICOR | 11.0 | - | ||||
Other Interest Expense | 3.1 | 1.1 | ||||
Total Fixed Charges As Defined | 20.8 | 4.5 | ||||
Total Earnings as Defined | $14.9 | $39.0 | ||||
Ratio of Earnings to Fixed Charges | 0.7x | 8.7x | ||||
(a) Earnings for this period were inadequate to cover fixed charges. The ratio for this period reflects a deficiency of | |||||||
$5.9 million due to the impact of the non-heating season on earnings, as well as amortization of goodwill and | |||||||
intercompany interest. | |||||||
(b) Includes amortization of debt premium, discount and expense. |