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10-Q - MDU RESOURCES FORM 10-Q 6-30-2016 - MDU RESOURCES GROUP INCa2016q2form10-q.htm
EX-95 - MDU RESOURCES MINE SAFETY DISCLOSURES - MDU RESOURCES GROUP INCa2016q2ex95.htm
EX-32 - MDU RESOURCES CERTIFICATION OF CEO AND CFO - MDU RESOURCES GROUP INCa2016q2ex32.htm
EX-31.B - MDU RESOURCES CERTIFICATION OF CHIEF FINANCIAL OFFICER - MDU RESOURCES GROUP INCa2016q2ex31b.htm
EX-31.A - MDU RESOURCES CERTIFICATION OF CHIEF EXECUTIVE OFFICER - MDU RESOURCES GROUP INCa2016q2ex31a.htm
EX-10.A - MDU RESOURCES SECTION 16 OFFICERS AND DIRECTORS - MDU RESOURCES GROUP INCa2016q2ex10a.htm
MDU RESOURCES GROUP, INC.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
AND COMBINED FIXED CHARGES AND PREFERRED STOCK DIVIDENDS

 
Twelve
Months Ended
June 30, 2016
 
Year Ended
December 31, 2015
 
 
(In thousands of dollars)
 
Earnings Available for Fixed Charges:
 
 
 
 
 
Net Income (a)
 
$
201,133

 
$
169,703

 
Income Taxes
 
87,793

 
77,506

 
 
 
288,926

 
247,209

 
Rents (b)
 
18,989

 
17,974

 
Interest (c)
 
98,417

 
104,292

 
Total Earnings Available for Fixed Charges
 
$
406,332

 
$
369,475

 
 
 
 
 
 
 
Preferred Dividend Requirements
 
$
685

 
$
685

 
Ratio of Income Before Income Taxes to Net Income
 
144
%
 
146
%
 
Preferred Dividend Factor on Pretax Basis
 
986

 
1,000

 
Fixed Charges (d)
 
113,322

 
117,609

 
Combined Fixed Charges and Preferred Stock Dividends
 
$
114,308

 
$
118,609

 
Ratio of Earnings to Fixed Charges
 
3.6x

 
3.1x

 
Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends
 
3.6x

 
3.1x

 

(a)
Net income excludes undistributed income for equity investees.

(b)
Represents interest portion of rents estimated at 33 1/3%.

(c)
Represents interest, amortization of debt discount and expense on all indebtedness and amortization of interest capitalized, and excludes amortization of gains or losses on reacquired debt (which, under the Federal Energy Regulatory Commission Uniform System of Accounts, is classified as a reduction of, or increase in, interest expense in the Consolidated Statements of Income) and interest capitalized.

(d)
Represents rents (as defined above), interest, amortization of debt discount and expense on all indebtedness, and excludes amortization of gains or losses on reacquired debt (which, under the Federal Energy Regulatory Commission Uniform System of Accounts, is classified as a reduction of, or increase in, interest expense in the Consolidated Statements of Income).