EX-12 4 ten1201.txt EXHIBIT 12.01 Exhibit 12.01 SCANA CORPORATION CALCULATION OF RATIOS FOR THE YEAR ENDED DECEMBER 31, 2001 (Millions of Dollars) CALCULATION OF BOND RATIO: Net earnings (1) $632.8 Divide by annualized interest charges on: Bonds authenticated under SCE&G's First and Refunding Mortgage Bond Indenture $31.1 Other indebtedness (1) 78.5 Total annualized interest charges 109.6 Bond Ratio 5.77 (1) As defined under SCE&G's First and Refunding Mortgage Bond Indenture, dated April 1, 1945 (Old Mortgage). CALCULATION OF NEW BOND RATIO: Net earnings (1) $626.3 Divide by annualized interest charges on: Bonds authenticated under SCE&G's First Mortgage Bond Indenture $78.5 Other indebtedness (1) 31.1 Total annualized interest charges 109.6 New Bond Ratio 5.71 (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) $214.6 Divide by annualized interest charges on: Bonds outstanding under SCE&G's mortgage bond indentures $109.6 Preferred Dividend Requirements 7.4 Total annualized interest charges 117.0 Preferred Stock Ratio 1.83 (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, 2001 (Millions of Dollars) Years Ended December 31, ---------------------------------------------------------- 2001 2000 1999 1998 1997 ---- ---- ---- ---- ---- Fixed Charges as defined: Interest on long-term debt $227.5 $226.1 $143.0 $128.0 $124.6 Amortization of debt premium, discount and expense (net) 6.4 4.4 3.1 2.7 2.6 Interest component on rentals 1.8 1.2 0.8 0.9 1.8 Preference security dividend requirement 15.7 15.8 15.8 15.8 15.6 ----------------------------------------------------------------- ------------- ----------- ---------- ----------- --------- Total Fixed Charges (A) $251.4 $247.5 $162.7 $147.4 $144.6 ================================================================= ============= =========== ========== =========== ========= Earnings, as defined: Pretax income from continuing operations $851.6 $374.3 $302.5 $366.2 $344.2 Total fixed charges above 251.4 247.5 162.7 147.4 144.6 Distribution from equity investee 11.2 5.9 1.3 - - Preference security dividend requirements from above (15.7) (15.8) (15.8) (15.8) (15.6) ----------------------------------------------------------------- ------------- ----------- ---------- ----------- --------- Total Earnings (B) $1,098.5 $611.9 $450.7 $497.8 $473.2 ================================================================= ============= =========== ========== =========== ========= Ratio of Earnings to fixed charges (B/A) 4.37 2.47 2.77 3.38 3.27 ================================================================= ============= =========== ========== =========== =========
Exhibit 12.01 SOUTH CAROLINA ELECTRIC & GAS COMPANY CALCULATION OF RATIOS FOR THE YEAR ENDED DECEMBER 31, 2001 (Millions of Dollars) CALCULATION OF BOND RATIO: Net earnings (1) $632.8 Divide by annualized interest charges on: Bonds authenticated under SCE&G's First and Refunding Mortgage Bond Indenture $31.1 Other indebtedness (1) 78.5 Total annualized interest charges 109.6 Bond Ratio 5.77 (1) As defined under SCE&G's First and Refunding Mortgage Bond Indenture, dated April 1, 1945 (Old Mortgage). CALCULATION OF NEW BOND RATIO: Net earnings (1) $626.3 Divide by annualized interest charges on: Bonds authenticated under SCE&G's First Mortgage Bond Indenture $78.5 Other indebtedness (1) 31.1 Total annualized interest charges 109.6 New Bond Ratio 5.71 (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) $214.6 Divide by annualized interest charges on: Bonds outstanding under SCE&G's mortgage bond indentures $109.9 Preferred Dividend Requirements 7.4 Total annualized interest charges 117.0 Preferred Stock Ratio 1.83 (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, 2001 (Millions of Dollars) Years Ended December 31, ----------------------------------------------------------- 2001 2000 1999 1998 1997 ---- ---- ---- ---- ---- Fixed Charges as defined: Interest on long-term debt $115.8 $106.4 $103.0 $98.8 $98.9 Amortization of debt premium, discount and expense (net) 2.8 2.6 2.5 2.3 2.3 Interest component on rentals 1.8 1.1 0.8 0.9 1.8 Preference security dividend requirement 3.8 3.8 3.8 3.8 0.7 ---------------------------------------------------------------- ---------- ------------ ---------- ----------- ------------ Total Fixed Charges (A) $124.2 $113.9 $110.1 $105.8 $103.7 ================================================================ ========== ============ ========== =========== ============ Earnings, as defined: Pretax income from continuing operations $349.0 $372.7 $302.7 $363.1 $295.9 Total fixed charges above 124.2 113.9 110.1 105.8 103.7 Preference security dividend requirements from above (3.8) (3.8) (3.8) (3.8) (0.7) ---------------------------------------------------------------- ---------- ------------ ---------- ----------- ------------ Total Earnings (B) $469.4 $482.8 $409.0 $465.1 $398.9 ================================================================ ========== ============ ========== =========== ============ Ratio of Earnings to fixed charges (B/A) 3.78 4.24 3.71 4.40 3.85 ================================================================ ========== ============ ========== =========== ============
PUBLIC SERVICE COMPANY OF NORTH CAROLINA, INCORPORATED COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES For the Years Ended December 31, 2001, 2000 and Each of the Previous Three Fiscal Years Ended September 30, 1999 (Millions of Dollars) Years Ended Fiscal Years Ended December 31, September 30, 2001 2000 1999 1998 1997 ---- ---- ---- ---- ---- Fixed Charges as defined: Interest on long-term debt $20.3 $12.4 $13.7 $15.0 $15.1 Interest expense 2.4 8.0 4.6 3.2 2.3 Amortization of debt discount 0.3 0.2 0.4 0.2 0.2 Interest components on rentals 0.3 0.1 0.1 0.1 0.1 -------------------------------------------------------------------- ------------ -- --------- -------- -------- Total Fixed Charges (A) $23.3 $20.7 $18.8 $18.5 $17.7 ==================================================================== ============ == ========= ======== ======== Earnings, as defined: Pretax income from continuing operations $32.9 $45.1 $41.9 $41.1 $43.2 Total fixed charges above 23.3 20.7 18.8 18.5 17.7 Pretax equity earnings of investees (5.2) (5.4) (1.0) (0.1) (0.5) Cash Distributions from equity investees 8.2 2.7 - - - -------------------------------------------------------------------- ------------ -- --------- -------- -------- Total Earnings (B) $59.2 $63.1 $59.7 $59.5 $60.4 ==================================================================== ============ == ========= ======== ======== Ratio of Earnings to fixed charges (B/A) 2.54 3.05 3.18 3.22 3.41 ==================================================================== ============ == ========= ======== ========