EX-12.1 2 duk-20140930x10qxexx121.htm COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES - DUKE ENERGY CORPORATION DUK-2014.09.30-10Q-Ex-12.1
EXHIBIT 12.1


COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES - DUKE ENERGY CORPORATION
The ratio of earnings to fixed charges is calculated using the Securities and Exchange Commission guidelines.
 
Nine Months Ended September 30,
(in millions)
2014
Earnings as defined for fixed charges calculation
 
 
Add:
 
 
Pretax income from continuing operations(a)
 
$
3,340

Fixed charges
 
1,384

Distributed income of equity investees
 
96

Deduct:
 
 
Interest capitalized
 
5

Total earnings
 
$
4,815

 
 
 
Fixed charges:
 
 
Interest on debt, including capitalized portions
 
$
1,283

Estimate of interest within rental expense
 
101

Total fixed charges
 
$
1,384

Ratio of earnings to fixed charges
 
3.5

Ratio of earnings to fixed charges and preferred dividends combined(b)
 
3.5

(a)    Excludes amounts attributable to noncontrolling interests and income or loss from equity investees.
(b)    For the period presented, Duke Energy Corporation had no preferred stock outstanding.