Exhibit 12 | ||||||
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WPS Resources Corporation | ||||||
Ratio of Earnings to Fixed Charges and | ||||||
Ratio of Earnings to Fixed Charges and Preferred Dividends | ||||||
(Millions) | 2001 | 2000 | 1999 | 1998 | 1997 | 1996 |
EARNINGS | ||||||
Income available to common shareholders | $ 77.6 | $ 67.0 | $ 59.6 | $ 46.6 | $ 55.8 | $ 52.9 |
Federal and state income taxes | 4.8 | 6.0 | 29.7 | 23.4 | 31.1 | 27.2 |
Net pretax income | 82.4 | 73.0 | 89.3 | 70.0 | 86.9 | 80.1 |
Fixed charges | 68.3 | 63.7 | 45.5 | 36.3 | 37.6 | 35.7 |
Subtract preferred dividend requirement | 4.5 | 4.6 | 4.7 | 4.6 | 4.8 | 4.6 |
Total earnings as defined | $146.2 | $132.1 | $130.1 | $101.7 | $119.7 | $111.2 |
FIXED CHARGES | ||||||
Interest on long-term debt, including related amortization | $ 45.6 | $ 41.7 | $ 27.2 | $ 24.0 | $ 26.3 | $ 25.5 |
Other interest | 12.2 | 11.9 | 8.5 | 4.8 | 4.9 | 3.9 |
Distributions - preferred securities of subsidiary trust | 3.5 | 3.5 | 3.5 | 1.5 | 0.0 | 0.0 |
Interest factor applicable to rentals | 2.5 | 2.0 | 1.6 | 1.4 | 1.6 | 1.7 |
Fixed charges before preferred dividend requirement | $ 63.8 | $ 59.1 | $ 40.8 | $ 31.7 | $ 32.8 | $ 31.1 |
Ratio of earnings to fixed charges | 2.3 | 2.2 | 3.2 | 3.2 | 3.6 | 3.6 |
Preferred dividends (grossed up) (see below) | $ 4.5 | $ 4.6 | $ 4.7 | $ 4.6 | $ 4.8 | $ 4.6 |
Total fixed charges including preferred dividend | $ 68.3 | $ 63.7 | $ 45.5 | $ 36.3 | $ 37.6 | $ 35.7 |
Ratio of earnings to fixed charges and preferred dividends | 2.1 | 2.1 | 2.9 | 2.8 | 3.2 | 3.1 |
PREFERRED DIVIDEND CALCULATION: | ||||||
Preferred dividends | $3.1 | $3.1 | $3.1 | $3.1 | $3.1 | $3.1 |
Tax rate * | 31.7% | 32.0% | 33.8% | 33.1% | 34.8% | 33.0% |
Preferred dividends (grossed up) | $4.5 | $4.6 | $4.7 | $4.6 | $4.8 | $4.6 |
* The tax rate has been adjusted to exclude the impact of tax credits. |
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10-K Filing
Integrys Holding (TEG) Inactive 10-K2001 FY Annual report
Filed: 11 Mar 02, 12:00am