EX-12.2 3 d362289dex122.htm TAMPA ELECTRIC RATIO OF EARNINGS Tampa Electric Ratio of Earnings

Exhibit 12.2

TAMPA ELECTRIC COMPANY

RATIO OF EARNINGS TO FIXED CHARGES

The following table sets forth Tampa Electric Company’s ratio of earnings to fixed charges for the periods indicated.

 

(millions)

   6-months
ended
June 30,
2012
    12-months
ended
June 30,
2012
    Year Ended Dec. 31,  
           2011             2010             2009             2008             2007      

Income from continuing operations, before income tax

   $ 166.8      $ 367.0      $ 380.7      $ 386.6      $ 303.7      $ 261.9      $ 278.4   

Interest expense

     69.8        140.3        141.9        143.9        141.2        135.8        131.4   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Earnings before taxes and fixed charges

   $ 236.6      $ 507.3      $ 522.6      $ 530.5      $ 444.9      $ 397.7      $ 409.8   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Interest expense

   $ 69.8      $ 140.3      $ 141.9      $ 143.9      $ 141.2      $ 135.8      $ 131.4   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total fixed charges

   $ 69.8      $ 140.3      $ 141.9      $ 143.9      $ 141.2      $ 135.8      $ 131.4   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Ratio of earnings to fixed charges

     3.39     3.62     3.68     3.69     3.15     2.93     3.12
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

For the purposes of calculating these ratios, earnings consist of income from continuing operations before income taxes and fixed charges. Fixed charges consist of interest expense on indebtedness, amortization of debt premium and an estimate of the interest component of rentals. Interest expense includes total interest expense, excluding AFUDC, and an estimate of the interest component of rentals.