EX-12.3 4 lnt930201710-qex123.htm RATIO OF EARNINGS TO FIXED CHARGES FOR WPL Exhibit


Exhibit 12.3

WISCONSIN POWER AND LIGHT COMPANY

RATIO OF EARNINGS TO FIXED CHARGES

 
Nine Months Ended
 
 
 
 
 
 
 
September 30,
 
Years Ended December 31,
 
2017
 
2016
 
2016
2015
2014
2013
2012
 
(dollars in millions)
EARNINGS:
 
 
 
 
 
 
 
 
 
Net income

$133.4

 

$160.3

 

$192.8


$177.6


$181.1


$179.1


$172.7

Income taxes (a)
60.1

 
77.1

 
93.3

82.9

85.3

85.6

87.6

Income before income taxes
193.5

 
237.4

 
286.1

260.5

266.4

264.7

260.3

Fixed charges as defined
70.1

 
69.7

 
92.7

93.7

87.7

86.4

103.9

Adjustment for undistributed equity earnings
(0.3
)
 
(8.3
)
 
(11.5
)
(4.5
)
(6.4
)
(8.3
)
(7.9
)
Total earnings as defined

$263.3

 

$298.8

 

$367.3


$349.7


$347.7


$342.8


$356.3

 
 
 
 
 
 
 
 
 
 
FIXED CHARGES:
 
 
 
 
 
 
 
 
 
Interest expense

$69.1

 

$68.7

 

$91.4


$92.4


$86.4


$85.0


$80.2

Estimated interest component of rent expense
1.0

 
1.0

 
1.3

1.3

1.3

1.4

23.7

Total fixed charges as defined

$70.1

 

$69.7

 

$92.7


$93.7


$87.7


$86.4


$103.9

 
 
 
 
 
 
 
 
 
 
Ratio of Earnings to Fixed Charges
3.76

 
4.29

 
3.96

3.73

3.96

3.97

3.43


(a) Includes net interest related to unrecognized tax benefits.