EX-12.01 10 exh12-01.htm STATEMENT RE COMPUTATION OF RATIOS - SCANA exh12-01.htm

 Exhibit 12.01

SCANA CORPORATION
CALCULATION OF RATIOS
FOR THE YEAR ENDED DECEMBER 31, 2008
(Dollars in Millions)

CALCULATION OF BOND RATIO:

Net earnings (1)
       
$
821.8
 
Divide by annualized interest charges on:
             
Bonds outstanding under SCE&G's bond indenture dated April 1, 1993 (Mortgage)
 
$
147.4
       
Other indebtedness (1)
   
1.7
       
Total annualized interest charges
         
149.1
 
Bond Ratio
         
5.51
 

(1)    As defined in the Mortgage.


CALCULATION OF PREFERRED STOCK RATIO:

Net earnings (2)
       
$
265.8
 
Divide by annualized interest charges on:
             
Bonds outstanding under SCE&G's mortgage bond indentures
 
$
147.4
       
Preferred dividend requirements
   
7.2
       
Total annualized interest charges
         
154.6
 
Preferred Stock Ratio
         
1.72
 

(2)    As defined under SCE&G's Restated Articles of Incorporation.


CALCULATION OF RATIO OF EARNINGS TO FIXED CHARGES:
 
   
Years Ended December 31,
 
Dollars in Millions
   
2008
   
2007
   
2006
   
2005
   
2004
 
Fixed Charges as defined:
                               
Interest on long-term debt
 
$
238.2
 
$
214.9
 
$
213.1
 
$
209.4
 
$
206.9
 
Amortization of debt premium, discount and expense (net)
   
4.6
   
4.6
   
4.8
   
6.0
   
5.4
 
Interest component on rentals
   
4.5
   
6.3
   
5.0
   
4.7
   
3.9
 
Preference security dividend requirement of consolidated subsidiary
   
11.7
   
11.7
   
11.8
   
11.8
   
11.9
 
Total Fixed Charges (A)
 
$
259.0
 
$
237.5
 
$
234.7
 
$
231.9
 
$
228.1
 
Earnings as defined:
                               
Pretax income (loss) from continuing operations
 
$
542.1
 
$
467.6
 
$
440.2
 
$
208.7
 
$
387.1
 
Total fixed charges above
   
259.0
   
237.5
   
234.7
   
231.9
   
228.1
 
Pretax equity in (earnings) losses of investees
   
(8.0
)
 
18.1
   
20.1
   
71.9
   
(5.4
)
Cash distributions from equity investees
   
6.2
   
7.8
   
6.7
   
7.1
   
7.4
 
Preference security dividend requirement from above
   
(11.7
)
 
(11.7
)
 
(11.8
)
 
(11.8
)
 
(11.9
)
Total Earnings (B)
 
$
787.6
 
$
719.3
 
$
689.9
 
$
507.8
 
$
605.3
 
                                 
Ratio of Earnings to Fixed Charges (B/A)
   
3.04
   
3.03
   
2.94
   
2.19
   
2.65