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Content analysis
?Positive | ||
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Constraining | ||
Legalese | ||
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8th grade Avg
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Exhibit 12.1
CMS Energy Corporation
Ratios of Earnings to Fixed Charges and Combined Fixed Charges and Preferred Dividends
In Millions, Except Ratios |
| |||||||||||||||
Years Ended December 31 | 2016 | 2015 | 2014 | 2013 | 2012 |
| ||||||||||
Earnings as defined1 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Pretax income from continuing operations |
| $ | 826 |
| $ | 796 |
| $ | 729 |
| $ | 756 |
| $ | 622 |
|
Exclude equity basis subsidiaries |
|
| (2 | ) |
| (2 | ) |
| (1 | ) |
| (2 | ) |
| (7 | ) |
Fixed charges as defined2 |
|
| 469 |
|
| 421 |
|
| 432 |
|
| 423 |
|
| 414 |
|
Earnings as defined2 |
| $ | 1,293 |
| $ | 1,215 |
| $ | 1,160 |
| $ | 1,177 |
| $ | 1,029 |
|
Fixed charges as defined1 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest on long-term debt |
| $ | 411 |
| $ | 386 |
| $ | 393 |
| $ | 385 |
| $ | 372 |
|
Estimated interest portion of lease rental |
|
| 29 |
|
| 21 |
|
| 21 |
|
| 21 |
|
| 21 |
|
Other interest charges |
|
| 31 |
|
| 16 |
|
| 19 |
|
| 18 |
|
| 23 |
|
Fixed charges as defined2 |
|
| 471 |
|
| 423 |
|
| 433 |
|
| 424 |
|
| 416 |
|
Preferred dividends |
|
| - |
|
| - |
|
| - |
|
| - |
|
| - |
|
Combined fixed charges and preferred dividends |
| $ | 471 |
| $ | 423 |
| $ | 433 |
| $ | 424 |
| $ | 416 |
|
Ratio of earnings to fixed charges |
|
| 2.75 |
|
| 2.87 |
|
| 2.68 |
|
| 2.78 |
|
| 2.47 |
|
Ratio of earnings to combined fixed charges and preferred dividends |
|
| 2.75 |
|
| 2.87 |
|
| 2.68 |
|
| 2.78 |
|
| 2.47 |
|
1 Earnings and fixed charges as defined in instructions for Item 503 of Regulation S-K.
2 Preferred dividends of a consolidated subsidiary are included in fixed charges, but excluded from earnings as defined because the amount was not deducted in arriving at pretax income from continuing operations.