EX-12.A 15 ex12a.htm EXHIBIT 12(A) Exhibit 12(a)
Exhibit No. 12(a)

PROGRESS ENERGY, INC.
Computation of Ratio of Earnings to Fixed Charges
For the Years Ended December 31

                       
(dollars in millions)
  
2006
  
2005
  
2004
  
2003
  
2002
  
Earnings, as defined:
                      
Income from continuing operations before minority interest
  
$
523
  
$
692
  
$
654
  
$
771
  
$
546
  
Fixed charges, as below
    
651
    
606
    
591
    
590
    
632
  
Preferred dividend requirements
    
(7
)
  
(7
)
  
(7
)
  
(7
)
  
(7
)
Minority interest
    
(9
)
  
29
    
19
    
-
    
-
  
Income taxes, as below
    
199
    
(42
)
  
62
    
(138
)
  
(152
)
Total earnings, as defined
  
$
1,357
  
$
1,278
  
$
1,319
  
$
1,216
  
$
1,019
  
                                 
Fixed Charges, as defined:
                                
Interest on long-term debt
  
$
619
  
$
566
  
$
529
  
$
543
  
$
541
  
Other interest
    
13
    
21
    
43
    
27
    
71
  
Imputed interest factor in rentals - charged
                                
principally to operating expenses
    
12
    
12
    
12
    
13
    
13
  
Preferred dividend requirements of subsidiaries
    
7
    
7
    
7
    
7
    
7
  
Total fixed charges, as defined
  
$
651
  
$
606
  
$
591
  
$
590
  
$
632
  
                                 
Income Taxes:
                                
Income tax expense (benefit)
  
$
204
  
$
(37
)
$
67
  
$
(130
)
$
(144
)
Included in AFUDC - deferred taxes in
                                
book depreciation
    
(5
)
  
(5
)
  
(5
)
  
(8
)
  
(8
)
Total income taxes
  
$
199
  
$
(42
)
$
62
  
$
(138
)
$
(152
)
                                 
Ratio of Earnings to Fixed Charges
   
2.08
    
2.11
    
2.23
    
2.06
    
1.61