EX-12.1 6 a14-1343_2ex12d1.htm EX-12.1

Exhibit 12.1

 

CMS ENERGY CORPORATION

 

Ratios of Earnings to Fixed Charges and Combined Fixed Charges and Preferred Dividends

 

 

 

 

 

 

 

In Millions, Except Ratios

 

Years Ended December 31

 

2013

 

2012

 

2011

 

2010

 

2009

 

Earnings as defined1

 

 

 

 

 

 

 

 

 

 

 

Pretax income from continuing operations

 

$

756

 

$

622

 

$

606

 

$

590

 

$

335

 

Exclude equity basis subsidiaries

 

(2

)

(7

)

(1

)

(2

)

2

 

Fixed charges as defined2

 

423

 

414

 

437

 

449

 

456

 

Earnings as defined2

 

$

1,177

 

$

1,029

 

$

1,042

 

$

1,037

 

$

793

 

Fixed charges as defined1

 

 

 

 

 

 

 

 

 

 

 

Interest on long-term debt

 

$

385

 

$

372

 

$

396

 

$

394

 

$

383

 

Estimated interest portion of lease rental

 

21

 

21

 

18

 

16

 

17

 

Other interest charges

 

18

 

23

 

25

 

42

 

58

 

Fixed charges as defined2

 

424

 

416

 

439

 

452

 

458

 

Preferred dividends

 

-

 

-

 

-

 

13

 

17

 

Combined fixed charges and preferred dividends

 

$

424

 

$

416

 

$

439

 

$

465

 

$

475

 

Ratio of earnings to fixed charges

 

2.78

 

2.47

 

2.37

 

2.29

 

1.73

 

Ratio of earnings to combined fixed charges and preferred dividends

 

2.78

 

2.47

 

2.37

 

2.23

 

1.67

 

 

NOTES:

 

1     Earnings and fixed charges as defined in instructions for Item 503 of Regulation S-K.

 

2     Preferred dividends of a consolidated subsidiary are included in fixed charges, but excluded from earnings as defined because the amount was not deducted in arriving at pretax income from continuing operations.