EX-12.2 7 d442708dex122.htm RATIO OF EARNINGS TO FIX CHARGES TAMPA ELECTRIC COMPANY Ratio of Earnings to Fix Charges Tampa Electric Company

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.

 

     Year Ended Dec. 31,  

(millions)

   2012      2011      2010      2009      2008  

Income from continuing operations, before income tax

   $ 368.9       $ 380.7       $ 386.6       $ 303.7       $ 261.9   

Interest expense

     129.9         141.9         143.9         141.2         135.8   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

Earnings before taxes and fixed charges

   $ 498.8       $ 522.6       $ 530.5       $ 444.9       $ 397.7   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

Interest expense

   $ 129.9       $ 141.9       $ 143.9       $ 141.2       $ 135.8   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

Total fixed charges

   $ 129.9       $ 141.9       $ 143.9       $ 141.2       $ 135.8   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

Ratio of earnings to fixed charges

     3.84x         3.68x         3.69x         3.15x         2.93x   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

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.