EX-12.5 8 duk-20141231x10kxexx125.htm COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES - DUKE ENERGY FLORIDA DUK-2014.12.31-10K-EX-12.5
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)
2014
 
2013
 
2012
 
2011
 
2010
Earnings as defined for fixed charges calculation
 
 
 
 
 
 
 
 
 
 
Add:
 
 
 
 
 
 
 
 
 
 
Pretax income from continuing operations
 
$
898

 
$
538

 
$
413

 
$
494

 
$
729

Fixed charges
 
294

 
285

 
309

 
275

 
300

Total earnings
 
$
1,192

 
$
823

 
$
722

 
$
769

 
$
1,029

 
 
 
 
 
 
 
 
 
 
 
Fixed charges:
 
 
 
 
 
 
 
 
 
 
Interest on debt, including capitalized portions
 
$
252

 
$
249

 
$
274

 
$
253

 
$
271

Estimate of interest within rental expense
 
42

 
36

 
35

 
22

 
29

Total fixed charges
 
$
294

 
$
285

 
$
309

 
$
275

 
$
300

Preferred dividends, as defined
 
—

 
—

 
2

 
2

 
2

Total fixed charges and preferred dividends combined
 
$
294

 
$
285

 
$
311

 
$
277

 
$
302

Ratio of earnings to fixed charges
 
4.1

 
2.9

 
2.3

 
2.8

 
3.4

Ratio of earnings to fixed charges and preferred dividends combined
 
4.1

 
2.9

 
2.3

 
2.8

 
3.4