Attached files
| file | filename |
|---|---|
| 8-K - FORM 8-K - PROGRESS ENERGY INC | g25796e8vk.htm |
Exhibit No. 12
PROGRESS ENERGY, INC.
Computation of Ratio of Earnings to Fixed Charges
For the Twelve Months Ended September 30
Computation of Ratio of Earnings to Fixed Charges
For the Twelve Months Ended September 30
| (dollars in millions) | 2010 | 2009 | ||||||
| Earnings, as defined: | ||||||||
Income from continuing operations |
$ | 870 | $ | 824 | ||||
Fixed charges, as below |
785 | 735 | ||||||
Preferred dividend requirements |
(7 | ) | (7 | ) | ||||
Income from continuing operations attributable to
noncontrolling interests, net of tax |
(1 | ) | — | |||||
Income taxes, as below |
496 | 413 | ||||||
Total earnings, as defined |
$ | 2,143 | $ | 1,965 | ||||
Fixed Charges, as defined: |
||||||||
Interest on long-term debt |
$ | 724 | $ | 658 | ||||
Other interest |
45 | 62 | ||||||
Imputed interest factor in rentals — charged
principally to operating expenses |
9 | 8 | ||||||
Preferred dividend requirements of subsidiaries |
7 | 7 | ||||||
Total fixed charges, as defined |
$ | 785 | $ | 735 | ||||
Income Taxes: |
||||||||
Income tax expense |
$ | 501 | $ | 418 | ||||
Included in AFUDC — deferred taxes in book depreciation |
(5 | ) | (5 | ) | ||||
Total income taxes |
$ | 496 | $ | 413 | ||||
Ratio of Earnings to Fixed Charges |
2.73 | 2.67 | ||||||