EX-12.2 3 ex122.htm VP EXHIBIT 12.2 12 months ended 6/30/02

Exhibit 12.2

Virginia Electric and Power Company
Computation of Ratio of Earnings to Fixed Charges and Preferred Dividends
(millions of dollars)

 

                         Years Ended                                  

3 Months Ended March 31, 2005

12 Months Ended March 31, 2005


2004


2003


2002


2001


2000

Earnings, as defined:

Earnings before income taxes and minority interests in consolidated subsidiaries


$ 34


$ 525


$ 670


$ 919


$  1,198


$  733


$  837

Fixed charges included in the determination of net income


    76


   271


   266


    311


     304


     310


     303

Total earnings, as defined

$ 110

$ 796

$ 936

$ 1,230

$ 1,502

$ 1,043

$ 1,140

Fixed charges, as defined:

Interest charges

$ 75

$ 266

$ 262

$ 320

$ 311

$ 320

$ 297

Preference security dividend requirements of consolidated subsidiaries

 

6

 

25

 

25

 

25



25



38



54

Rental interest factor

     3

    11

    11

    10

    10

    10

      6

Total fixed charges, as defined

$ 84

$ 302

$ 298

$ 355

$ 346

$ 368

$ 357

Ratio of Earnings to Fixed Charges and Preferred Dividends

1.31

2.64

3.14

 

3.47

4.34

2.83

3.19