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
Nine Months Ended | |||||||||||||||||||||||
September 30, | Years Ended December 31, | ||||||||||||||||||||||
2012 | 2011 | 2011 | 2010 | 2009 | 2008 | 2007 | |||||||||||||||||
(dollars in millions) | |||||||||||||||||||||||
EARNINGS: | |||||||||||||||||||||||
Net income | $124.6 | $129.5 | $139.3 | $143.4 | $153.0 | $141.6 | $290.3 | ||||||||||||||||
Income tax expense (benefit) (a) | (6.6 | ) | (2.2 | ) | (3.6 | ) | 42.3 | 27.0 | 52.6 | 186.8 | |||||||||||||
Income before income taxes | 118.0 | 127.3 | 135.7 | 185.7 | 180.0 | 194.2 | 477.1 | ||||||||||||||||
Fixed charges as defined | 59.5 | 59.8 | 79.6 | 83.1 | 77.5 | 63.7 | 65.8 | ||||||||||||||||
Total earnings as defined | $177.5 | $187.1 | $215.3 | $268.8 | $257.5 | $257.9 | $542.9 | ||||||||||||||||
FIXED CHARGES: | |||||||||||||||||||||||
Interest expense | $58.8 | $59.2 | $78.7 | $82.2 | $76.5 | $61.9 | $64.3 | ||||||||||||||||
Estimated interest component of rent expense | 0.7 | 0.6 | 0.9 | 0.9 | 1.0 | 1.8 | 1.5 | ||||||||||||||||
Total fixed charges as defined | $59.5 | $59.8 | $79.6 | $83.1 | $77.5 | $63.7 | $65.8 | ||||||||||||||||
Ratio of Earnings to Fixed Charges | 2.98 | 3.13 | 2.70 | 3.23 | 3.32 | 4.05 | 8.25 | ||||||||||||||||
Preferred dividend requirements (pre-tax basis) (b) | $8.9 | $11.6 | $14.6 | $19.9 | $18.1 | $21.1 | $25.3 | ||||||||||||||||
Fixed charges and preferred dividend requirements | $68.4 | $71.4 | $94.2 | $103.0 | $95.6 | $84.8 | $91.1 | ||||||||||||||||
Ratio of Earnings to Combined Fixed Charges and Preferred Dividend Requirements | 2.60 | 2.62 | 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.