Attached files
| file | filename |
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| 8-K - FORM 8-K - DUKE ENERGY PROGRESS, LLC. | d351772d8k.htm |
Exhibit No. 12
CAROLINA POWER & LIGHT COMPANY
d/b/a Progress Energy Carolinas, Inc.
Computation of Ratio of Earnings to Fixed Charges
For the Twelve Months Ended March 31
| (dollars in millions) |
2012 | 2011 | ||||||
| EARNINGS, AS DEFINED: |
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| Add: |
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| Pre-tax income |
$ | 648 | $ | 925 | ||||
| Fixed charges, as below |
245 | 229 | ||||||
| Deduct: |
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| Capitalized interest(a) |
20 | 20 | ||||||
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| Total earnings, as defined |
$ | 873 | $ | 1,134 | ||||
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| FIXED CHARGES, AS DEFINED: |
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| Interest on debt, including capitalized portion |
$ | 209 | $ | 206 | ||||
| Estimate of interest within rental expense |
36 | 23 | ||||||
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| Total fixed charges, as defined |
245 | 229 | ||||||
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| Preferred dividends, as defined |
4 | 5 | ||||||
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| Total fixed charges and preferred dividends combined |
$ | 249 | $ | 234 | ||||
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| Ratio of Earnings to Fixed Charges |
3.56 | 4.95 | ||||||
| Ratio of Earnings to Fixed Charges and Preferred Dividends Combined |
3.51 | 4.85 | ||||||
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| (a) | Excludes equity costs related to allowance for equity funds used during construction that are included in other income (expense) on the Consolidated Statements of Comprehensive Income. |