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, | |||||||||||||||||||||||||||
2012 | 2011 | 2011 | 2010 | 2009 | 2008 | 2007 | ||||||||||||||||||||||
(dollars in millions) | ||||||||||||||||||||||||||||
EARNINGS: | ||||||||||||||||||||||||||||
Net income (loss) | ($ | 1.5 | ) | $ | 27.1 | $ | 139.3 | $ | 143.4 | $ | 153.0 | $ | 141.6 | $ | 290.3 | |||||||||||||
Income tax expense (benefit) (a) | 7.4 | 1.7 | (3.6 | ) | 42.3 | 27.0 | 52.6 | 186.8 | ||||||||||||||||||||
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Income before income taxes | 5.9 | 28.8 | 135.7 | 185.7 | 180.0 | 194.2 | 477.1 | |||||||||||||||||||||
Fixed charges as defined | 20.0 | 20.2 | 79.6 | 83.1 | 77.5 | 63.7 | 65.8 | |||||||||||||||||||||
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Total earnings as defined | $ | 25.9 | $ | 49.0 | $ | 215.3 | $ | 268.8 | $ | 257.5 | $ | 257.9 | $ | 542.9 | ||||||||||||||
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FIXED CHARGES: | ||||||||||||||||||||||||||||
Interest expense | $ | 19.7 | $ | 19.9 | $ | 78.7 | $ | 82.2 | $ | 76.5 | $ | 61.9 | $ | 64.3 | ||||||||||||||
Estimated interest component of rent expense | 0.3 | 0.3 | 0.9 | 0.9 | 1.0 | 1.8 | 1.5 | |||||||||||||||||||||
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Total fixed charges as defined | $ | 20.0 | $ | 20.2 | $ | 79.6 | $ | 83.1 | $ | 77.5 | $ | 63.7 | $ | 65.8 | ||||||||||||||
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Ratio of Earnings to Fixed Charges | 1.30 | 2.43 | 2.70 | 3.23 | 3.32 | 4.05 | 8.25 | |||||||||||||||||||||
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Preferred dividend requirements (pre-tax basis) (b) | ($ | 12.6 | ) | $ | 5.7 | $ | 14.6 | $ | 19.9 | $ | 18.1 | $ | 21.1 | $ | 25.3 | |||||||||||||
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Fixed charges and preferred dividend requirements | $ | 7.4 | $ | 25.9 | $ | 94.2 | $ | 103.0 | $ | 95.6 | $ | 84.8 | $ | 91.1 | ||||||||||||||
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Ratio of Earnings to Combined Fixed Charges and Preferred Dividend Requirements | 3.50 | 1.89 | 2.29 | 2.61 | 2.69 | 3.04 | 5.96 | |||||||||||||||||||||
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(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. |