Exhibit 12.2
INTERSTATE POWER AND LIGHT COMPANY
RATIO OF EARNINGS TO FIXED CHARGES AND RATIO OF EARNINGS TO COMBINED FIXED CHARGES
AND PREFERRED DIVIDEND REQUIREMENTS
Six Months | |||||||||||||||||||||||
Ended June 30, | Years Ended Dec. 31, | ||||||||||||||||||||||
2012 | 2011 | 2011 | 2010 | 2009 | 2008 | 2007 | |||||||||||||||||
(dollars in millions) | |||||||||||||||||||||||
EARNINGS: | |||||||||||||||||||||||
Net income | $18.1 | $28.1 | $139.3 | $143.4 | $153.0 | $141.6 | $290.3 | ||||||||||||||||
Income tax expense (benefit) (a) | 5.3 | 1.0 | (3.6 | ) | 42.3 | 27.0 | 52.6 | 186.8 | |||||||||||||||
Income before income taxes | 23.4 | 29.1 | 135.7 | 185.7 | 180.0 | 194.2 | 477.1 | ||||||||||||||||
Fixed charges as defined | 39.8 | 40.2 | 79.6 | 83.1 | 77.5 | 63.7 | 65.8 | ||||||||||||||||
Total earnings as defined | $63.2 | $69.3 | $215.3 | $268.8 | $257.5 | $257.9 | $542.9 | ||||||||||||||||
FIXED CHARGES: | |||||||||||||||||||||||
Interest expense | $39.3 | $39.7 | $78.7 | $82.2 | $76.5 | $61.9 | $64.3 | ||||||||||||||||
Estimated interest component of rent expense | 0.5 | 0.5 | 0.9 | 0.9 | 1.0 | 1.8 | 1.5 | ||||||||||||||||
Total fixed charges as defined | $39.8 | $40.2 | $79.6 | $83.1 | $77.5 | $63.7 | $65.8 | ||||||||||||||||
Ratio of Earnings to Fixed Charges | 1.59 | 1.72 | 2.70 | 3.23 | 3.32 | 4.05 | 8.25 | ||||||||||||||||
Preferred dividend requirements (pre-tax basis) (b) | $8.0 | $9.0 | $14.6 | $19.9 | $18.1 | $21.1 | $25.3 | ||||||||||||||||
Fixed charges and preferred dividend requirements | $47.8 | $49.2 | $94.2 | $103.0 | $95.6 | $84.8 | $91.1 | ||||||||||||||||
Ratio of Earnings to Combined Fixed Charges and | |||||||||||||||||||||||
Preferred Dividend Requirements | 1.32 | 1.41 | 2.29 | 2.61 | 2.69 | 3.04 | 5.96 |
(a) Includes net interest related to unrecognized tax benefits.
(b) Preferred dividend requirements (pre-tax basis) are computed by dividing the preferred dividend requirements by one hundred percent minus the respective year-to-date effective income tax rate.