EX-12 8 0008.txt COMPUTATION OF RATIO OF EARNINGS EXHIBIT NO. 12 CAROLINA POWER & LIGHT COMPANY COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
------------------------------------------------------------------ Years Ended December 31, ------------------------------------------------------------------ 2000 1999 1998 1997 1996 ---- ---- ---- ---- ---- (Thousands of Dollars) Earnings, as defined: --------------------- Net income $ 461,028 382,255 $ 399,238 $ 388,317 391,277 Fixed charges, as below 248,759 202,491 191,832 193,632 204,593 Income taxes, as below 282,122 250,272 249,180 225,491 247,691 ------------------------- ----------- ----------- ------------ Total earnings, as defined $ 991,909 835,018 $ 840,250 $ 807,440 $ 843,561 ========================= =========== =========== ============ Fixed Charges, as defined: -------------------------- Interest on long-term debt $ 223,562 180,676 $ 169,901 $ 163,468 $ 172,622 Other interest 16,441 10,298 11,156 18,743 19,155 Imputed interest factor in rentals-charged principally to operating expenses 8,756 11,517 10,775 11,421 12,816 ------------------------- ----------- ----------- ------------ Total fixed charges, as defined $ 248,759 202,491 $ 191,832 $ 193,632 $ 204,593 ========================= =========== =========== ============ Income Taxes: ------------- Income tax expense 290,271 258,421 257,494 233,716 255,916 Included in AFUDC - deferred taxes in book depreciation (8,149) (8,149) (8,314) (8,225) (8,225) ------------------------- ----------- ----------- ------------ Total income taxes $ 282,122 250,272 $ 249,180 $ 225,491 $ 247,691 ========================= =========== =========== ============ Ratio of Earnings to Fixed Charges 3.99 4.12 4.38 4.17 4.12