EX-12 7 0007.txt EXHIBIT 12.01 Exhibit 12.01 SCANA CORPORATION CALCULATION OF RATIOS FOR THE YEAR ENDED DECEMBER 31, 2000 (Millions of Dollars) CALCULATION OF BOND RATIO: Net earnings (1) $640.4 Divide by annualized interest charges on: Bonds authenticated under SCE&G's First and Refunding Mortgage Bond Indenture $31.1 Other indebtedness (1) $68.5 Total annualized interest charges $99.6 Bond Ratio 6.43 (1) As defined under SCE&G's First and Refunding Mortgage Bond Indenture, dated April 1, 1945 (Old Mortgage). CALCULATION OF NEW BOND RATIO: $631.2 Net earnings (1) Divide by annualized interest charges on: Bonds authenticated under SCE&G's First Mortgage Bond Indenture $68.5 Other indebtedness (1) $31.1 Total annualized interest charges $99.6 New Bond Ratio 6.34 (1) As defined under SCE&G's Collateral Trust Mortgage Indenture, dated April 1, 1993 (New Mortgage). CALCULATION OF PREFERRED STOCK RATIO: Net earnings (1) $223.9 Divide by annualized interest charges on: Bonds authenticated under SCE&G's mortgage bond indentures $99.6 Preferred Dividend Requirements $ 7.4 Total annualized interest charges $107.0 Preferred Stock Ratio 2.09 (1) As defined under SCE&G's Restated Articles of Incorporation. SCANA CORPORATION COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES For Each of the Five Years Ended December 31, 2000 (Millions of Dollars) Years Ended December 31, ------------------------------------------------------- 2000 1999 1998 1997 1996 ---- ---- ---- ---- ---- Fixed Charges as defined: Interest on long-term debt $201.6 $129.2 $118.1 $113.6 $112.3 Amortization of debt premium, discount and expense (net) 4.4 3.0 2.7 2.6 2.6 Other interest expense 25.7 14.6 10.8 13.4 15.6 Trust preferred 3.8 3.8 3.8 0.7 - ----------------------------------------------- ------------ ----------- ---------- --------- --------- Total Fixed Charges (A) $235.5 $150.6 $135.4 $130.3 $130.5 =============================================== ============ =========== ========== ========= ========= Earnings, as defined: Income $229.0 $186.4 $230.8 $230.0 $200.7 Income taxes 140.9 111.3 131.1 113.6 119.1 Total fixed charges above 235.5 150.6 135.4 130.3 130.5 ----------------------------------------------- ------------ ----------- ---------- --------- --------- Total Earnings (B) $605.4 $448.3 $497.3 $473.9 $409.3 =============================================== ============ =========== ========== ========= ========= Ratio of Earnings to fixed charges (B/A) 2.57 2.98 3.67 3.64 3.60 =============================================== ============ =========== ========== ========= =========
Exhibit 12.01 SOUTH CAROLINA ELECTRIC & GAS COMPANY CALCULATION OF RATIOS FOR THE YEAR ENDED DECEMBER 31, 2000 (Millions of Dollars) CALCULATION OF BOND RATIO: Net earnings (1) $640.4 Divide by annualized interest charges on: Bonds authenticated under SCE&G's First and Refunding Mortgage Bond Indenture $31.1 Other indebtedness (1) $68.5 Total annualized interest charges $99.6 Bond Ratio 6.43 (1) As defined under SCE&G's First and Refunding Mortgage Bond Indenture, dated April 1, 1945 (Old Mortgage). CALCULATION OF NEW BOND RATIO: $631.2 Net earnings (1) Divide by annualized interest charges on: Bonds authenticated under SCE&G's First Mortgage Bond Indenture $68.5 Other indebtedness (1) $31.1 Total annualized interest charges $99.6 New Bond Ratio 6.34 (1) As defined under SCE&G's Collateral Trust Mortgage Indenture, dated April 1, 1993 (New Mortgage). CALCULATION OF PREFERRED STOCK RATIO: Net earnings (1) $223.9 Divide by annualized interest charges on: Bonds authenticated under SCE&G's mortgage bond indentures $99.6 Preferred Dividend Requirements $ 7.4 Total annualized interest charges $107.0 Preferred Stock Ratio 2.09 (1) As defined under SCE&G's Restated Articles of Incorporation. SOUTH CAROLINA ELECTRIC & GAS COMPANY COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES For Each of the Five Years Ended December 31, 2000 (Millions of Dollars) Years Ended December 31, ---------------------------------------------------------- 2000 1999 1998 1997 1996 ---- ---- ---- ---- ---- Fixed Charges as defined: Interest on long-term debt $ 98.3 $ 94.4 $ 92.7 $ 94.0 $ 94.8 Amortization of debt premium, discount and expense (net) 2.6 2.5 2.3 2.3 2.3 Other interest expense 9.3 9.4 7.0 6.7 9.7 Trust preferred 3.8 3.8 3.8 0.7 - ------------------------------------------------ ---------- ------------ ---------- ----------- ----------- Total Fixed Charges (A) $114.0 $110.1 $105.8 $103.7 $106.8 ================================================ ========== ============ ========== =========== =========== Earnings, as defined: Income $231.3 $189.2 $227.2 $194.7 $190.5 Income taxes 133.1 109.7 132.2 100.6 108.1 Total fixed charges above 114.0 110.1 105.8 103.7 106.8 ------------------------------------------------ ---------- ------------ ---------- ----------- ----------- Total Earnings (B) $478.4 $409.0 $465.2 $339.0 $405.4 ================================================ ========== ============ ========== =========== =========== Ratio of Earnings to fixed charges (B/A) 4.20 3.71 4.40 3.85 3.80 ================================================ ========== ============ ========== =========== ===========
PUBLIC SERVICE COMPANY OF NORTH CAROLINA, INCORPORATED COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES For the Year Ended December 31, 2000 and Each of the Previous Four Years Ended September 30 (Millions of Dollars) Twelve Months Ended December 31, Years Ended September 30, 2000 1999 1998 1997 1996 Fixed Charges as defined: Interest on long-term debt $12.4 $13.6 $15.0 $15.1 $12.3 Amortization of debt premium, discount and expense (net) 0.2 0.4 0.2 0.2 0.1 Other interest expense 8.1 4.7 3.2 2.4 2.7 Total Fixed Charges (A) $20.7 $18.7 $18.4 $17.7 $15.1 ========================================== ================== == ========= ========= ========== ========== Earnings, as defined: Income $21.2 $24.5 $24.8 $26.3 $23.9 Income taxes 19.6 17.5 16.3 16.8 15.7 Total fixed charges above 20.7 18.7 18.4 17.7 15.1 ------------------------------------------ ------------------ -- --------- --------- ---------- ---------- Total Earnings (B) $61.5 $60.7 $59.5 $60.8 $54.7 ========================================== ================== == ========= ========= ========== ========== Ratio of Earnings to fixed charges (B/A) 2.97 3.24 3.23 3.44 3.62 ========================================== ================== == ========= ========= ========== ==========