Exhibit 12.2 | |||||||
Wisconsin Public Service Corporation | |||||||
2005 | |||||||
(Millions) | 6 months | 2004 | 2003 | 2002 | 2001 | 2000 | 1999 |
EARNINGS | |||||||
Earnings on common stock | $58.9 | $104.8 | $78.9 | $83.1 | $80.6 | $70.4 | $67.1 |
Federal and state income taxes | 34.3 | 51.3 | 45.7 | 46.8 | 43.9 | 40.1 | 38.0 |
Net pretax income | 93.2 | 156.1 | 124.6 | 129.9 | 124.5 | 110.5 | 105.1 |
Income from less than 50% equity investees | 3.7 | 8.4 | 6.0 | 6.6 | 6.3 | 0.0 | 0.0 |
Distributed earnings of less than 50% equity investees | 2.6 | 5.9 | 4.3 | 5.4 | 3.3 | 0.0 | 0.0 |
Fixed charges | 21.5 | 40.4 | 38.8 | 41.2 | 39.3 | 37.7 | 33.6 |
Subtract preference dividend requirement | 2.5 | 4.6 | 4.8 | 4.8 | 4.7 | 4.8 | 4.8 |
Total earnings as defined | $111.1 | $189.4 | $156.9 | $165.1 | $156.1 | $143.4 | $133.9 |
FIXED CHARGES | |||||||
Interest on long-term debt, including related amortization | $15.0 | $29.9 | $27.8 | $27.2 | $24.1 | $21.6 | $21.9 |
Other interest | 3.2 | 4.5 | 4.9 | 7.9 | 9.2 | 10.1 | 5.6 |
Interest factor applicable to rentals | 0.8 | 1.4 | 1.3 | 1.3 | 1.3 | 1.2 | 1.3 |
Fixed charges before preferred dividend requirement | $19.0 | $35.8 | $34.0 | $36.4 | $34.6 | $32.9 | $28.8 |
Ratio of earnings to fixed charges | 5.8 | 5.3 | 4.6 | 4.5 | 4.5 | 4.4 | 4.6 |
Preferred dividends (grossed up) (see below) | $2.5 | $4.6 | $4.8 | $4.8 | $4.7 | $4.8 | $4.8 |
Total fixed charges including preferred dividend | $21.5 | $40.4 | $38.8 | $41.2 | $39.3 | $37.7 | $33.6 |
Ratio of earnings to fixed charges and preferred dividends | 5.2 | 4.7 | 4.0 | 4.0 | 4.0 | 3.8 | 4.0 |
PREFERRED DIVIDEND CALCULATION: | |||||||
Preferred dividends | $1.6 | $3.1 | $3.1 | $3.1 | $3.1 | $3.1 | $3.1 |
Tax rate | 36.3% | 32.4% | 35.6% | 35.0% | 34.4% | 35.3% | 35.2% |
Preferred dividends (grossed up) | $2.5 | $4.6 | $4.8 | $4.8 | $4.7 | $4.8 | $4.8 |
Wisconsin Public Service (WSPBP)
Filed: 4 Aug 05, 12:00am