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, | ||||||||||||||
2009 | 2008 | 2008 | 2007 | 2006(a) | 2005 | 2004 | |||||||||
(dollars in millions) | |||||||||||||||
EARNINGS: | |||||||||||||||
Net income | $61 | .1 | $49.7 | $141 | .6 | $290 | .3 | $172 | .4 | $165 | .1 | $125 | .7 | ||
Income tax expense (benefit) (a) | (19 | .4) | 14.8 | 52 | .6 | 186 | .8 | 69 | .4 | 80 | .8 | 61 | .7 | ||
Income before income taxes | 41 | .7 | 64.5 | 194 | .2 | 477 | .1 | 241 | .8 | 245 | .9 | 187 | .4 | ||
Fixed charges as defined | 36 | .4 | 30.1 | 63 | .7 | 65 | .8 | 73 | .3 | 72 | .5 | 72 | .3 | ||
Total earnings as defined | $78 | .1 | $94.6 | $257 | .9 | $542 | .9 | $315 | .1 | $318 | .4 | $259 | .7 | ||
FIXED CHARGES: | |||||||||||||||
Interest expense | $35 | .8 | $29.4 | $61 | .9 | $64 | .3 | $71 | .8 | $67 | .7 | $67 | .9 | ||
Estimated interest component of rent expense | 0 | .6 | 0.7 | 1 | .8 | 1 | .5 | 1 | .5 | 4 | .8 | 4 | .4 | ||
Total fixed charges as defined | $36 | .4 | $30.1 | $63 | .7 | $65 | .8 | $73 | .3 | $72 | .5 | $72 | .3 | ||
Ratio of Earnings to Fixed Charges | 2 | .15 | 3.14 | 4. | 05 | 8. | 25 | 4. | 30 | 4. | 39 | 3. | 59 | ||
Preferred dividend requirements (pre-tax basis) (b) | $5 | .3 | $10.0 | $21 | .1 | $25 | .3 | $21 | .6 | $22 | .9 | $23 | .0 | ||
Fixed charges and preferred dividend requirements | $41 | .7 | $40.1 | $84 | .8 | $91 | .1 | $94 | .9 | $95 | .4 | $95 | .3 | ||
Ratio of Earnings to Combined Fixed Charges and | |||||||||||||||
Preferred Dividend Requirements | 1 | .87 | 2.36 | 3. | 04 | 5. | 96 | 3. | 32 | 3. | 34 | 2. | 73 | ||
(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.