EXHIBIT 12.4
DUKE ENERGY PROGRESS, INC.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
The ratio of earnings to fixed charges is calculated using the Securities and Exchange Commission guidelines.
		Years Ended December 31,
(in millions)		2013		2012		2011		2010		2009
Earnings as defined for fixed charges calculation
Add:
	Pretax income from continuing operations	$	789	$	382	$	772	$	952	$	791
	Fixed charges		289		291		235		227		219
Deduct:
	Interest capitalized		24		23		21		19		12
	Pre-tax income (loss) noncontrolling interest of subsidiaries that have not incurred fixed charges		―		―		―		(1)		(2)
Total earnings		$	1,054	$	650	$	986	$	1,161	$	1,000
Fixed charges:
	Interest on debt, including capitalized portions	$	224	$	230	$	205	$	205	$	207
	Estimate of interest within rental expense		65		61		30		22		12
Total fixed charges		$	289	$	291	$	235	$	227	$	219
Preferred dividends, as defined			―		4		4		5		5
Total fixed charges and preferred dividends combined		$	289	$	295	$	239	$	232	$	224
Ratio of earnings to fixed charges			3.6		2.2		4.2		5.1		4.6
Ratio of earnings to fixed charges and preferred dividends combined			3.6		2.2		4.1		5.0		4.5