MGE ENERGY INC - FORM 10-Q - EX-12 - EXHIBIT 12: MGE RATIO OF EARNINGS TO FIXED CHARGES - August 6, 2013

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10-Q - FORM 10-Q - MGE ENERGY INCf10q_20130630.htm
EX-31 - EXHIBIT 31.1: MGEE CEO RULE 13A-14/15D-14 CERTIFICATION - MGE ENERGY INCex31_1.htm
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EX-32 - EXHIBIT 32.2: MGEE CFO SECTION 1350 CERTIFICATION - MGE ENERGY INCex32_2.htm
EX-32 - EXHIBIT 32.3: MGE CEO SECTION 1350 CERTIFICATION - MGE ENERGY INCex32_3.htm
EX-32 - EXHIBIT 32.4: MGE CFO SECTION 1350 CERTIFICATION - MGE ENERGY INCex32_4.htm
10-Q - FORM 10-Q PDF - MGE ENERGY INCf10q_20130630.pdf

EXHIBIT 12


Madison Gas and Electric Company

Ratio of Earnings to Fixed Charges

Six Months Ended June 30, 2013

(In thousands)



Earnings


Net income before minority interest

$36,325

Equity earnings

(4,705)

Income distribution from equity investees

3,638

Minority interest in pretax income

(1,975)

Amortization of capitalized interest

264

Federal and state income taxes

22,361

Fixed charges

10,242

Total Earnings as Defined

$66,150

 


Fixed Charges


Interest expense on long-term debt and other

$9,042

Interest on rentals*

431

Amortization of debt issuance costs

332

AFUDC - borrowed funds

437

Total Fixed Charges

$10,242

 

 

Ratio of Earnings to Fixed Charges

6.46X


*Management believes that using one-third of the total rental expense

gives a reasonable approximation for actual interest on rentals.




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