Interstate Power & Light (IPLDP) 10-Q2015 Q3 Quarterly report

Filed: 6 Nov 15, 12:00am

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New words: aging, aspect, breach, Clinton, Code, commensurate, description, discharge, documented, economic, Emery, employment, entirety, excise, Exhibit, explicit, farm, footprint, Fox, grid, growing, herewith, infrastructure, interconnection, KEESA, Lake, likelihood, Louisa, modernization, modernizing, Moody, multiple, negative, package, parachute, Personnel, policy, remote, repayment, resilient, robust, scale, Scott, socialized, stable, stringent, upgrading, version, voluntary, wastewater, zone

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Exhibit 12.3

WISCONSIN POWER AND LIGHT COMPANY

RATIO OF EARNINGS TO FIXED CHARGES



	Nine Months Ended
	September 30,						Years Ended December 31,
	2015			2014			2014			2013			2012			2011			2010
	(dollars in millions)
EARNINGS:
Net income		$152.2			$151.0			$180.8			$177.5			$165.7			$163.5			$152.3
Income taxes (a)	74.0			68.0			85.6			87.2			94.6			81.9			98.3
Income before income taxes	226.2			219.0			266.4			264.7			260.3			245.4			250.6
Fixed charges as defined	70.4			64.1			87.7			86.4			103.9			103.3			101.6
Adjustment for undistributed equity earnings	(8.4		)	(7.0		)	(6.4		)	(8.3		)	(7.9		)	(6.4		)	(5.6		)
Total earnings as defined		$288.2			$276.1			$347.7			$342.8			$356.3			$342.3			$346.6

FIXED CHARGES:
Interest expense		$69.5			$63.2			$86.4			$85.0			$80.2			$79.9			$78.6
Estimated interest component of rent expense	0.9			0.9			1.3			1.4			23.7			23.4			23.0
Total fixed charges as defined		$70.4			$64.1			$87.7			$86.4			$103.9			$103.3			$101.6

Ratio of Earnings to Fixed Charges	4.09			4.31			3.96			3.97			3.43			3.31			3.41

(a) Includes net interest related to unrecognized tax benefits.

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