1
Exhibit (12)
WISCONSIN ELECTRIC POWER COMPANY
Statement of Computation of Ratios of Earnings to Fixed Charges
(Unaudited)
(Thousands of Dollars)
Year Ended December 31 12 Months
------------------------------------------------ Ended
1990 1991 1992 1993 1994 9/30/95
---- ---- ---- ---- ---- ---------
Net Income $185,918 $181,569 $161,742 $177,925 $166,945 $217,765
Income Taxes 95,893 94,645 83,898 92,566 93,485 125,183
Pretax Income 281,811 276,214 245,640 270,491 260,430 342,948
FIXED CHARGES:
- --------------
Interest on Long-Term Debt 77,140 74,758 80,251 83,296 81,766 82,551
Amortization of Debt
Premium, Discount & Expense 2,666 2,857 4,592 12,814 13,859 11,930
Other Interest Expense 835 4,849 2,414 2,450 6,020 10,072
Interest Factor of Rents
------------------------
Nuclear Fuel 3,992 3,174 2,098 1,697 1,896 2,441
Other 719 865 982 1,454 992 992
Total Fixed Charges 85,352 86,503 90,337 101,711 104,533 107,986
Earnings Before Income
Taxes & Fixed Charges $367,163 $362,717 $335,977 $372,202 $364,963 $450,934
Ratio of Earnings to
Fixed Charges 4.3x 4.2x 3.7x 3.7x 3.5x 4.2x