Exhibit 12.1
ALLIANT ENERGY CORPORATION
RATIO OF EARNINGS TO FIXED CHARGES
Nine Months Ended | |||||||||||||||||||||||
September 30, | Years Ended December 31, | ||||||||||||||||||||||
2012 | 2011 | 2011 | 2010 | 2009 | 2008 | 2007 | |||||||||||||||||
(dollars in millions) | |||||||||||||||||||||||
EARNINGS: | |||||||||||||||||||||||
Net income from continuing operations attributable to Alliant Energy Corporation common shareowners | $253.8 | $259.2 | $323.1 | $291.5 | $111.6 | $265.8 | $415.7 | ||||||||||||||||
Income tax expense (benefit) (a) | 83.8 | 54.5 | 69.0 | 147.6 | (6.8 | ) | 130.6 | 249.9 | |||||||||||||||
Subtotal | 337.6 | 313.7 | 392.1 | 439.1 | 104.8 | 396.4 | 665.6 | ||||||||||||||||
Fixed charges as defined | 158.7 | 160.3 | 208.4 | 215.4 | 199.7 | 185.2 | 184.6 | ||||||||||||||||
Adjustment for undistributed equity earnings | (4.7 | ) | (5.2 | ) | (7.0 | ) | (5.9 | ) | (6.7 | ) | (6.1 | ) | (7.8 | ) | |||||||||
Less: | |||||||||||||||||||||||
Interest capitalized | 5.1 | 1.3 | 2.7 | — | — | — | — | ||||||||||||||||
Preferred dividend requirements of subsidiaries (pre-tax basis) (b) | 15.7 | 17.1 | 22.0 | 27.6 | 17.7 | 27.3 | 29.5 | ||||||||||||||||
Total earnings as defined | $470.8 | $450.4 | $568.8 | $621.0 | $280.1 | $548.2 | $812.9 | ||||||||||||||||
FIXED CHARGES: | |||||||||||||||||||||||
Interest expense | $115.8 | $119.7 | $158.3 | $162.8 | $154.8 | $125.8 | $116.7 | ||||||||||||||||
Interest capitalized | 5.1 | 1.3 | 2.7 | — | — | — | — | ||||||||||||||||
Estimated interest component of rent expense | 22.1 | 22.2 | 25.4 | 25.0 | 27.2 | 32.1 | 38.4 | ||||||||||||||||
Preferred dividend requirements of subsidiaries (pre-tax basis) (b) | 15.7 | 17.1 | 22.0 | 27.6 | 17.7 | 27.3 | 29.5 | ||||||||||||||||
Total fixed charges as defined | $158.7 | $160.3 | $208.4 | $215.4 | $199.7 | $185.2 | $184.6 | ||||||||||||||||
Ratio of Earnings to Fixed Charges (c) | 2.97 | 2.81 | 2.73 | 2.88 | 1.40 | 2.96 | 4.40 |
(a) Includes net interest related to unrecognized tax benefits.
(b) Preferred dividend requirements of subsidiaries (pre-tax basis) are computed by dividing the preferred dividend requirements of subsidiaries by one hundred percent minus the respective year-to-date effective income tax rate.
(c) The ratio calculation in the above table relates to Alliant Energy Corporation's continuing operations.