NSP-WISCONSIN AND SUBSIDIARIES
STATEMENT OF COMPUTATION OF
RATIO OF EARNINGS TO FIXED CHARGES
(Thousands of Dollars, except ratio)
| | Pro Forma | | | | | | Pro Forma | | | | | | | | | | | | | | | | |
| | Six Months | | | Six Months | | | Year Ended | | | | | | | | | | | | | | | | |
| | Ended June 30, | | | Ended June 30, | | | Dec. 31, | | | Year Ended Dec. 31 | |
| | 2012 | | | 2012 | | | 2011 | | | 2011 | | | 2010 | | | 2009 | | | 2008 | | | 2007 | |
Earnings, as defined: | | | | | | | | | | | | | | | | | | | | | | | | |
Pretax income from operations | | $ | 31,973 | | | $ | 33,652 | | | $ | 81,077 | | | $ | 84,620 | | | $ | 68,861 | | | $ | 72,981 | | | $ | 73,295 | | | $ | 59,984 | |
Add: Fixed charges | | | 13,949 | | | | 12,270 | | | | 28,171 | | | | 24,628 | | | | 24,897 | | | | 25,102 | | | | 25,934 | | | | 23,589 | |
Total earnings, as defined | | $ | 45,922 | | | $ | 45,922 | | | $ | 109,248 | | | $ | 109,248 | | | $ | 93,758 | | | $ | 98,083 | | | $ | 99,229 | | | $ | 83,573 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Fixed charges, as defined: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Interest charges | | $ | 13,738 | | | $ | 12,059 | | | $ | 27,711 | | | $ | 24,168 | | | $ | 24,517 | | | $ | 24,782 | | | $ | 25,641 | | | $ | 22,967 | |
Interest component of leases | | | 211 | | | | 211 | | | | 460 | | | | 460 | | | | 380 | | | | 320 | | | | 293 | | | | 622 | |
Total fixed charges, as defined | | $ | 13,949 | | | $ | 12,270 | | | $ | 28,171 | | | $ | 24,628 | | | $ | 24,897 | | | $ | 25,102 | | | $ | 25,934 | | | $ | 23,589 | |
Ratio of earnings to fixed charges | | | 3.3 | | | | 3.7 | | | | 3.9 | | | | 4.4 | | | | 3.8 | | | | 3.9 | | | | 3.8 | | | | 3.5 | |