EX-12.5 11 duk-20161231x10kxexx125.htm COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES - DUKE ENERGY FLORIDA, LLC Exhibit
EXHIBIT 12.5


COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES - DUKE ENERGY FLORIDA
The ratio of earnings to fixed charges is calculated using the Securities and Exchange Commission guidelines.
 
Years Ended December 31,
(in millions)
2016
 
2015
 
2014
 
2013
 
2012
Earnings as defined for fixed charges calculation
 
 
 
 
 
 
 
 
 
 
Add:
 
 
 
 
 
 
 
 
 
 
Pretax income from continuing operations(a)
 
$
873

 
$
943

 
$
898

 
$
538

 
$
413

Fixed charges
 
264

 
284

 
294

 
285

 
309

Total earnings
 
$
1,137

 
$
1,227

 
$
1,192

 
$
823

 
$
722

 
 
 
 
 
 
 
 
 
 
 
Fixed charges:
 
 
 
 
 
 
 
 
 
 
Interest on debt, including capitalized portions
 
$
231

 
$
248

 
$
252

 
$
249

 
$
274

Estimate of interest within rental expense
 
33

 
36

 
42

 
36

 
35

Total fixed charges
 
$
264

 
$
284

 
$
294

 
$
285

 
$
309

Preferred dividends, as defined
 
—

 
—

 
—

 
—

 
2

Total fixed charges and preferred dividends combined
 
$
264

 
$
284

 
$
294

 
$
285

 
$
311

Ratio of earnings to fixed charges
 
4.3

 
4.3

 
4.1

 
2.9

 
2.3

Ratio of earnings to fixed charges and preferred dividends combined
 
4.3

 
4.3

 
4.1

 
2.9

 
2.3

(a)    Excludes income or loss from equity investees.