Exhibit 12 | ||||||||||||||||||||
WISCONSIN PUBLIC SERVICE CORPORATION | ||||||||||||||||||||
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES AND | ||||||||||||||||||||
RATIO OF EARNINGS TO FIXED CHARGES AND PREFERRED STOCK DIVIDEND REQUIREMENTS | ||||||||||||||||||||
(Millions) | 2010 | 2009 | 2008 | 2007 | 2006 | |||||||||||||||
EARNINGS | ||||||||||||||||||||
Net Income from continuing operations | $ | 135.0 | $ | 120.4 | $ | 132.3 | $ | 113.3 | $ | 102.1 | ||||||||||
Provision for income taxes | 78.0 | 68.0 | 73.1 | 66.8 | 58.3 | |||||||||||||||
Income from continuing operations before income taxes | 213.0 | 188.4 | 205.4 | 180.1 | 160.4 | |||||||||||||||
Less: Undistributed earnings of less than 50% owned affiliates | (1.7 | ) | (1.8 | ) | (2.2 | ) | (2.5 | ) | (3.2 | ) | ||||||||||
Adjusted income from continuing operations before income taxes | 211.3 | 186.6 | 203.2 | 177.6 | 157.2 | |||||||||||||||
Total fixed charges as defined | 56.9 | 58.5 | 48.1 | 45.3 | 42.3 | |||||||||||||||
Total earnings as defined | $ | 268.2 | $ | 245.1 | $ | 251.3 | $ | 222.9 | $ | 199.5 | ||||||||||
FIXED CHARGES | ||||||||||||||||||||
Interest expense | $ | 54.4 | $ | 54.0 | $ | 44.0 | $ | 43.5 | $ | 40.4 | ||||||||||
Allowance for funds used during construction | 0.3 | 2.0 | 1.8 | 0.3 | 0.2 | |||||||||||||||
Interest factor applicable to rentals | 2.2 | 2.5 | 2.3 | 1.5 | 1.7 | |||||||||||||||
Total fixed charges as defined | $ | 56.9 | $ | 58.5 | $ | 48.1 | $ | 45.3 | $ | 42.3 | ||||||||||
Preferred stock dividend requirements * | 5.2 | 4.9 | 4.8 | 4.9 | 4.9 | |||||||||||||||
Total fixed charges and preferred stock dividend requirements | $ | 62.1 | $ | 63.4 | $ | 52.9 | $ | 50.2 | $ | 47.2 | ||||||||||
RATIO OF EARNINGS TO FIXED CHARGES | 4.7 | 4.2 | 5.2 | 4.9 | 4.7 | |||||||||||||||
RATIO OF EARNINGS TO FIXED CHARGES AND PREFERRED STOCK DIVIDEND REQUIREMENTS | 4.3 | 3.9 | 4.7 | 4.4 | 4.2 | |||||||||||||||
* Represents preferred stock dividend requirements of WPS computed by dividing the preferred stock dividend requirements by 100% minus the | ||||||||||||||||||||
income tax rate. | ||||||||||||||||||||
- WSPBP Dashboard
- Financials
- Filings
-
10-K Filing
Wisconsin Public Service (WSPBP) 10-K2010 FY Annual report
Filed: 24 Feb 11, 12:00am