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Content analysis
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8th grade Avg
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- 10-K Annual report
- 10.29 Exhibit 10.29 to Form 10-K
- 12.2 Exhibit 12.2 to Form 10-K
- 23.2 Exhibit 23.2 to Form 10-K
- 31.3 Exhibit 31.3 - CEO Certification Pursuant to Rule 13A-14(A) and 15D-14(A)
- 31.4 Exhibit 31.4 - CFO Certification Pursuant to Rule 13A-14(A) and 15D-14(A)
- 32.3 Exhibit 32.3 - CEO Certification Pursuant to 18 U.s.c. Section 1350
- 32.4 Exhibit 32.4 - CFO Certification Pursuant to 18 U.s.c. Section 1350
- PDF Form 10-K PDF
EXHIBIT 12
Madison Gas and Electric Company
Ratio of Earnings to Fixed Charges
Twelve Months Ended December 31, 2010
(In thousands)
Earnings | |
Net income before minority interest | $58,465 |
Equity earnings | (8,498) |
Income distribution from equity investees | 6,667 |
Minority interest in pre-tax income | (2,997) |
Amortization of capitalized interest | 315 |
Interest capitalized | (2,713) |
Federal and state income taxes | 34,305 |
Fixed charges | 20,066 |
Total Earnings as Defined | $105,610 |
| |
Fixed Charges | |
Interest expense on long-term debt and other | $15,522 |
Interest on rentals* | 1,053 |
Amortization of debt issuance costs | 660 |
AFUDC - borrowed funds | 118 |
Capitalized interest | 2,713 |
Total Fixed Charges | $20,066 |
|
|
Ratio of Earnings to Fixed Charges | 5.26X |
*Management believes that using one-third of the total rental expense
gives a reasonable approximation for actual interest on rentals.