EX-12.2 5 duk-20141231x10kxexx122.htm COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES - DUKE ENERGY CAROLINAS DUK-2014.12.31-10K-EX-12.2
EXHIBIT 12.2
        

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES - DUKE ENERGY CAROLINAS
The ratio of earnings to fixed charges is calculated using the Securities and Exchange Commission guidelines.
 
Years Ended December 31,
(in millions)
2014
 
2013
 
2012
 
2011
 
2010
Earnings as defined for fixed charges calculation
 
 
 
 
 
 
 
 
 
 
Add:
 
 
 
 
 
 
 
 
 
 
Pretax income from continuing operations
 
$
1,661

 
$
1,571

 
$
1,322

 
$
1,306

 
$
1,295

Fixed charges
 
457

 
461

 
467

 
450

 
464

Deduct:
 
 
 
 
 
 
 
 
 
 
Interest capitalized
 
—

 
—

 
—

 
—

 
—

Total earnings
 
$
2,118

 
$
2,032

 
$
1,789

 
$
1,756

 
$
1,759

 
 
 
 
 
 
 
 
 
 
 
Fixed charges:
 
 
 
 
 
 
 
 
 
 
Interest on debt, including capitalized portions
 
$
445

 
$
452

 
$
455

 
$
437

 
$
446

Estimate of interest within rental expense
 
12

 
9

 
12

 
13

 
18

Total fixed charges
 
$
457

 
$
461

 
$
467

 
$
450

 
$
464

Ratio of earnings to fixed charges
 
4.6

 
4.4

 
3.8

 
3.9

 
3.8