EX-12.4 10 duk-20161231x10kxexx124.htm COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES - DUKE ENERGY PROGRESS, LLC Exhibit
EXHIBIT 12.4


COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES - DUKE ENERGY PROGRESS
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)
 
$
900

 
$
860

 
$
753

 
$
789

 
$
382

Fixed charges
 
305

 
318

 
305

 
289

 
291

Total earnings
 
$
1,205

 
$
1,178

 
$
1,058

 
$
1,078

 
$
673

 
 
 
 
 
 
 
 
 
 
 
Fixed charges:
 
 
 
 
 
 
 
 
 
 
Interest on debt, including capitalized portions
 
$
267

 
$
254

 
$
238

 
$
224

 
$
230

Estimate of interest within rental expense
 
38

 
64

 
67

 
65

 
61

Total fixed charges
 
$
305

 
$
318

 
$
305

 
$
289

 
$
291

Preferred dividends, as defined
 
—

 
—

 
—

 
—

 
4

Total fixed charges and preferred dividends combined
 
$
305

 
$
318

 
$
305

 
$
289

 
$
295

Ratio of earnings to fixed charges
 
4.0

 
3.7

 
3.5

 
3.7

 
2.3

Ratio of earnings to fixed charges and preferred dividends combined
 
4.0

 
3.7

 
3.5

 
3.7

 
2.3

(a)    Excludes income or loss from equity investees.