EX-12.1 9 dex121.htm RATIO OF EARNINGS TO FIXED CHARGES Prepared by R.R. Donnelley Financial -- Ratio of Earnings to Fixed Charges
EXHIBIT 12.1
VIRGINIA ELECTRIC AND POWER COMPANY
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
 
(Millions of Dollars)
 
      
12 months ended 3/31/02
   
Years ended December 31,
       
2001
   
2000
   
1999
   
1998
   
1997
Earnings, as defined:
                                
Earnings before income taxes and minority interests in consolidated subsidiaries
     
935.8
   
732.8
   
837.4
   
742.7
   
387.2
   
718.4
Distributed income from unconsolidated investees, less equity in earnings
                                
Fixed charges included in the determination of net income
     
310.4
   
310.6
   
303.2
   
296.8
   
325.5
   
325.0
      
  
  
  
  
  
Total earnings, as defined
     
1246.2
   
1043.4
   
1140.6
   
1039.5
   
712.7
   
1043.4
      
  
  
  
  
  
Fixed charges, as defined:
                                
Interest charges
     
318.2
   
320.2
   
296.9
   
289.9
   
319.1
   
316.4
Rental interest factor
     
10.9
   
10.1
   
6.3
   
6.9
   
6.4
   
8.6
      
  
  
  
  
  
Total fixed charges, as defined
     
329.10
   
330.30
   
303.20
   
296.80
   
325.50
   
325.00
      
  
  
  
  
  
Ratio of Earnings to Fixed Charges
     
3.79
   
3.16
   
3.76
   
3.50
   
2.19
   
3.21