EX-12.01 2 exh12-01.htm CALCULATION OF RATIOS exh12-01.htm

 Exhibit 12.01

SCANA CORPORATION
CALCULATION OF RATIOS
FOR THE YEAR ENDED DECEMBER 31, 2007
(Dollars in Millions)

CALCULATION OF BOND RATIO:

Net earnings (1)
        
$
758,419,744
  
Divide by annualized interest charges on:
              
Bonds outstanding under SCE&G's bond indenture dated April 1, 1993 (Mortgage)
  
$
105,156,325
        
Other indebtedness (1)
    
1,999,063
        
Total annualized interest charges
          
107,155,388
  
Bond Ratio
          
7.08
  

(1)           As defined in the Mortgage.


CALCULATION OF PREFERRED STOCK RATIO:

Net earnings (2)
        
$
237,814,043
  
Divide by annualized interest charges on:
              
Bonds outstanding under SCE&G's mortgage bond indentures
  
$
107,155,388
        
Preferred dividend requirements
    
7,255,054
        
Total annualized interest charges
          
114,410,442
  
Preferred Stock Ratio
          
2.08
  

(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
    
2007
    
2006
    
2005
    
2004
    
2003
  
Fixed Charges as defined:
                                
Interest on long-term debt
  
$
214.9
  
$
213.1
  
$
209.4
  
$
206.9
  
$
206.1
  
Amortization of debt premium, discount and expense (net)
    
4.6
    
4.8
    
6.0
    
5.4
    
4.9
  
Interest component on rentals
    
6.3
    
5.0
    
4.7
    
3.9
    
3.6
  
Preference security dividend requirement
    
11.7
    
11.8
    
11.8
    
11.9
    
13.6
  
Total Fixed Charges (A)
  
$
237.5
  
$
234.7
  
$
231.9
  
$
228.1
  
$
228.2
  
Earnings as defined:
                                
Pretax income (loss) from continuing operations
  
$
467.6
  
$
440.2
  
$
208.7
  
$
387.1
  
$
426.2
  
Total fixed charges above
    
237.5
    
234.7
    
231.9
    
228.1
    
228.2
  
Pretax equity in (earnings) losses of investees
    
18.1
    
20.1
    
71.9
    
(5.4
)
  
(5.2
  
Cash distributions from equity investees
    
7.8
    
6.7
    
7.1
    
7.4
    
7.7
  
Preference security dividend requirements from above
    
(11.7
)
  
(11.8
)
  
(11.8
)
  
(11.9
)
  
(13.6
  
Total Earnings (B)
  
$
719.3
  
$
689.9
  
$
507.8
  
$
605.3
  
$
643.3
  
                                 
Ratio of Earnings to Fixed Charges (B/A)
    
3.03
    
2.94
    
2.19
    
2.65
    
2.82