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 Dec. 31, | |||||||||||||||||||||||||||
| 2011 | 2010 | 2010 | 2009 | 2008 | 2007 | 2006 | ||||||||||||||||||||||
| (dollars in millions) | ||||||||||||||||||||||||||||
EARNINGS: | ||||||||||||||||||||||||||||
Net income | $ | 27.1 | $ | 9.7 | $ | 143.4 | $ | 153.0 | $ | 141.6 | $ | 290.3 | $ | 172.4 | ||||||||||||||
Income taxes (a) | 1.7 | 9.9 | 42.3 | 27.0 | 52.6 | 186.8 | 69.4 | |||||||||||||||||||||
Income before income taxes | 28.8 | 19.6 | 185.7 | 180.0 | 194.2 | 477.1 | 241.8 | |||||||||||||||||||||
Fixed charges as defined | 20.2 | 20.6 | 83.1 | 77.5 | 63.7 | 65.8 | 73.3 | |||||||||||||||||||||
Total earnings as defined | $ | 49.0 | $ | 40.2 | $ | 268.8 | $ | 257.5 | $ | 257.9 | $ | 542.9 | $ | 315.1 | ||||||||||||||
FIXED CHARGES: | ||||||||||||||||||||||||||||
Interest expense | $ | 19.9 | $ | 20.3 | $ | 82.2 | $ | 76.5 | $ | 61.9 | $ | 64.3 | $ | 71.8 | ||||||||||||||
Estimated interest component of rent expense | 0.3 | 0.3 | 0.9 | 1.0 | 1.8 | 1.5 | 1.5 | |||||||||||||||||||||
Total fixed charges as defined | $ | 20.2 | $ | 20.6 | $ | 83.1 | $ | 77.5 | $ | 63.7 | $ | 65.8 | $ | 73.3 | ||||||||||||||
Ratio of Earnings to Fixed Charges | 2.43 | 1.95 | 3.23 | 3.32 | 4.05 | 8.25 | 4.30 | |||||||||||||||||||||
Preferred dividend requirements (pre-tax basis) (b) | $ | 5.7 | $ | 7.9 | $ | 19.9 | $ | 18.1 | $ | 21.1 | $ | 25.3 | $ | 21.6 | ||||||||||||||
Fixed charges and preferred dividend requirements | $ | 25.9 | $ | 28.5 | $ | 103.0 | $ | 95.6 | $ | 84.8 | $ | 91.1 | $ | 94.9 | ||||||||||||||
Ratio of Earnings to Combined Fixed Charges and Preferred Dividend Requirements | 1.89 | 1.41 | 2.61 | 2.69 | 3.04 | 5.96 | 3.32 | |||||||||||||||||||||
| (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. |