EX-12.2 21 exhibit12.2.htm COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES - DUKE ENERGY CAROLINAS  

 

 

EXHIBIT 12.2

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES – DUKE ENERGY CAROLINAS

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

The ratio of earnings to fixed charges is calculated using the Securities and Exchange Commission guidelines.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Years Ended December 31,

(in millions)

2012 

 

2011 

 

2010 

 

2009 

 

2008 

Earnings as defined for fixed charges calculation

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Add:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pretax income from continuing operations

$

 1,322 

 

$

 1,306 

 

$

 1,295 

 

$

 1,080 

 

$

 1,065 

 

Fixed charges

 

 467 

 

 

 450 

 

 

 464 

 

 

 412 

 

 

 402 

Deduct:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest capitalized(a)

 

 72 

 

 

 76 

 

 

 83 

 

 

 65 

 

 

 46 

Total earnings

$

 1,717 

 

$

 1,680 

 

$

 1,676 

 

$

 1,427 

 

$

 1,421 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed charges:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest on debt, including capitalized portions

$

 455 

 

$

 437 

 

$

 446 

 

$

 395 

 

$

 376 

 

Estimate of interest within rental expense

 

 12 

 

 

 13 

 

 

 18 

 

 

 17 

 

 

 26 

Total fixed charges

$

 467 

 

$

 450 

 

$

 464 

 

$

 412 

 

$

 402 

Ratio of earnings to fixed charges

 

 3.7 

 

 

 3.7 

 

 

 3.6 

 

 

 3.5 

 

 

 3.5 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(a)

Excludes the equity costs related to Allowance for Funds Used During Construction that are included in Other Income and Expenses in the Condensed Consolidated Statements of Operations.