EX-12.3 4 lnt630201810-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

 
Six Months Ended
 
 
 
 
 
 
 
June 30,
 
Years Ended December 31,
 
2018
 
2017
 
2017
2016
2015
2014
2013
 
(dollars in millions)
EARNINGS:
 
 
 
 
 
 
 
 
 
Net income

$93.8

 

$83.6

 

$186.6


$192.8


$177.6


$181.1


$179.1

Income taxes (a)
17.9

 
37.1

 
61.9

93.3

82.9

85.3

85.6

Income before income taxes
111.7

 
120.7

 
248.5

286.1

260.5

266.4

264.7

Fixed charges as defined
49.9

 
46.7

 
95.2

92.7

93.7

87.7

86.4

Adjustment for undistributed equity earnings
0.4

 
(0.2
)
 
(0.6
)
(11.5
)
(4.5
)
(6.4
)
(8.3
)
Total earnings as defined

$162.0

 

$167.2

 

$343.1


$367.3


$349.7


$347.7


$342.8

 
 
 
 
 
 
 
 
 
 
FIXED CHARGES:
 
 
 
 
 
 
 
 
 
Interest expense

$49.3

 

$46.0

 

$93.8


$91.4


$92.4


$86.4


$85.0

Estimated interest component of rent expense
0.6

 
0.7

 
1.4

1.3

1.3

1.3

1.4

Total fixed charges as defined

$49.9

 

$46.7

 

$95.2


$92.7


$93.7


$87.7


$86.4

 
 
 
 
 
 
 
 
 
 
Ratio of Earnings to Fixed Charges
3.25

 
3.58

 
3.60

3.96

3.73

3.96

3.97


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