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, | ||||||||||||||
2010 | 2009 | 2009 | 2008 | 2007 | 2006 | 2005 | |||||||||
(dollars in millions) | |||||||||||||||
EARNINGS: | |||||||||||||||
Net income | $30.9 | $61.1 | $153.0 | $141.6 | $290.3 | $172.4 | $165.1 | ||||||||
Income tax expense (benefit) (a) | 15.7 | (19.4 | ) | 27.0 | 52.6 | 186.8 | 69.4 | 80.8 | |||||||
Income before income taxes | 46.6 | 41.7 | 180.0 | 194.2 | 477.1 | 241.8 | 245.9 | ||||||||
Fixed charges as defined | 41.1 | 36.4 | 77.5 | 63.7 | 65.8 | 73.3 | 72.5 | ||||||||
Total earnings as defined | $87.7 | $78.1 | $257.5 | $257.9 | $542.9 | $315.1 | $318.4 | ||||||||
FIXED CHARGES: | |||||||||||||||
Interest expense | $40.6 | $35.8 | $76.5 | $61.9 | $64.3 | $71.8 | $67.7 | ||||||||
Estimated interest component of rent expense | 0.5 | 0.6 | 1.0 | 1.8 | 1.5 | 1.5 | 4.8 | ||||||||
Total fixed charges as defined | $41.1 | $36.4 | $77.5 | $63.7 | $65.8 | $73.3 | $72.5 | ||||||||
Ratio of Earnings to Fixed Charges | 2.13 | 2.15 | 3.32 | 4.05 | 8.25 | 4.30 | 4.39 | ||||||||
Preferred dividend requirements (pre-tax basis) (b) | $11.6 | $5.3 | $18.1 | $21.1 | $25.3 | $21.6 | $22.9 | ||||||||
Fixed charges and preferred dividend requirements | $52.7 | $41.7 | $95.6 | $84.8 | $91.1 | $94.9 | $95.4 | ||||||||
Ratio of Earnings to Combined Fixed Charges and Preferred Dividend Requirements | 1.66 | 1.87 | 2.69 | 3.04 | 5.96 | 3.32 | 3.34 | ||||||||
(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. |