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
Three Months Ended | |||||||||||||||||||||||
March 31, | Years Ended December 31, | ||||||||||||||||||||||
2013 | 2012 | 2012 | 2011 | 2010 | 2009 | 2008 | |||||||||||||||||
(dollars in millions) | |||||||||||||||||||||||
EARNINGS: | |||||||||||||||||||||||
Net income (loss) | $31.5 | ($1.5 | ) | $150.2 | $139.3 | $143.4 | $153.0 | $141.6 | |||||||||||||||
Income tax expense (benefit) (a) | (6.1 | ) | 7.4 | (19.8 | ) | (3.6 | ) | 42.3 | 27.0 | 52.6 | |||||||||||||
Income before income taxes | 25.4 | 5.9 | 130.4 | 135.7 | 185.7 | 180.0 | 194.2 | ||||||||||||||||
Fixed charges as defined | 19.9 | 20.0 | 79.3 | 79.6 | 83.1 | 77.5 | 63.7 | ||||||||||||||||
Total earnings as defined | $45.3 | $25.9 | $209.7 | $215.3 | $268.8 | $257.5 | $257.9 | ||||||||||||||||
FIXED CHARGES: | |||||||||||||||||||||||
Interest expense | $19.6 | $19.7 | $78.5 | $78.7 | $82.2 | $76.5 | $61.9 | ||||||||||||||||
Estimated interest component of rent expense | 0.3 | 0.3 | 0.8 | 0.9 | 0.9 | 1.0 | 1.8 | ||||||||||||||||
Total fixed charges as defined | $19.9 | $20.0 | $79.3 | $79.6 | $83.1 | $77.5 | $63.7 | ||||||||||||||||
Ratio of Earnings to Fixed Charges | 2.28 | 1.30 | 2.64 | 2.70 | 3.23 | 3.32 | 4.05 | ||||||||||||||||
Preferred dividend requirements (pre-tax basis) (b) | $2.6 | ($12.6 | ) | $10.9 | $14.6 | $19.9 | $18.1 | $21.1 | |||||||||||||||
Fixed charges and preferred dividend requirements | $22.5 | $7.4 | $90.2 | $94.2 | $103.0 | $95.6 | $84.8 | ||||||||||||||||
Ratio of Earnings to Combined Fixed Charges and Preferred Dividend Requirements | 2.01 | 3.50 | 2.32 | 2.29 | 2.61 | 2.69 | 3.04 |
(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. Excludes the impact of charges related to Interstate Power and Light Company’s preferred stock redemption for the three months ended March 31, 2013.