Exhibit 12(b).1
CONSUMERS ENERGY COMPANY
Ratios of Earnings to Fixed Charges and Combined Fixed Charges and Preferred Dividends
(As Revised, See Note 1)
Ratios of Earnings to Fixed Charges and Combined Fixed Charges and Preferred Dividends
(As Revised, See Note 1)
In Millions, Except Ratios | ||||||||||||||||||||||||
Nine Months Ended | Year Ended December 31 | |||||||||||||||||||||||
September 30, 2009 | 2008 | 2007 | 2006 | 2005 | 2004 | |||||||||||||||||||
(b) | ||||||||||||||||||||||||
Earnings as defined (a) | ||||||||||||||||||||||||
Pretax income from continuing operations | $ | 437 | $ | 562 | $ | 437 | $ | 167 | $ | (590 | ) | $ | 439 | |||||||||||
Exclude equity basis subsidiaries | — | — | — | (1 | ) | (1 | ) | (1 | ) | |||||||||||||||
Fixed charges as defined | 215 | 276 | 293 | 307 | 316 | 345 | ||||||||||||||||||
Earnings as defined | $ | 652 | $ | 838 | $ | 730 | $ | 473 | $ | (275 | ) | $ | 783 | |||||||||||
Fixed charges as defined (a) | ||||||||||||||||||||||||
Interest on long-term debt | $ | 187 | $ | 229 | $ | 236 | $ | 286 | $ | 305 | $ | 328 | ||||||||||||
Other interest charges | 15 | 22 | 34 | 13 | 5 | 13 | ||||||||||||||||||
Estimated interest portion of lease rental | 13 | 25 | 23 | 8 | 6 | 4 | ||||||||||||||||||
Fixed charges as defined | $ | 215 | 276 | 293 | 307 | 316 | 345 | |||||||||||||||||
Preferred dividends | 3 | 3 | 3 | 3 | 3 | 3 | ||||||||||||||||||
Combined fixed charges and preferred dividends | $ | 218 | $ | 279 | $ | 296 | $ | 310 | $ | 319 | $ | 348 | ||||||||||||
Ratio of earnings to fixed charges | 3.03 | 3.04 | 2.49 | 1.54 | — | 2.27 | ||||||||||||||||||
Ratio of earnings to combined fixed charges and preferred dividends | 2.99 | 3.00 | 2.47 | 1.53 | — | 2.25 | ||||||||||||||||||
NOTES:
(a) | Earnings and fixed charges as defined in instructions for Item 503 of Regulation S-K. | |
(b) | For the year ended December 31, 2005, fixed charges exceeded earnings by $591 million and combined fixed charges and preferred dividends exceeded earnings by $594 million. Earnings as defined include $1.184 billion of asset impairment charges. |