EX-12.6 9 duk-20141231x10kxexx126.htm COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES - DUKE ENERGY OHIO DUK-2014.12.31-10K-EX-12.6
EXHIBIT 12.6


COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES - DUKE ENERGY OHIO
The ratio of earnings to fixed charges is calculated using the Securities and Exchange Commission guidelines.
 
Years Ended December 31,
 
(in millions)
2014
 
2013 (b)
 
2012 (b)
 
2011 (b)
 
2010 (b)
 
Earnings as defined for fixed charges calculation
 
 
 
 
 
 
 
 
 
 
 
Add:
 
 
 
 
 
 
 
 
 
 
 
Pretax income (loss) from continuing operations
 
$
111

 
$
111

 
$
79

 
$
44

 
$
(280
)
 
Fixed charges
 
100

 
94

 
108

 
119

 
122

 
Deduct:
 
 
 
 
 
 
 
 
 
 
 
Interest capitalized
 
—

 
1

 
2

 
2

 
2

 
Total earnings
 
$
211

 
$
204

 
$
185

 
$
161

 
$
(160
)
 
 
 
 
 
 
 
 
 
 
 
 
 
Fixed charges:
 
 
 
 
 
 
 
 
 
 
 
Interest on debt, including capitalized portions
 
$
95

 
$
90

 
$
104

 
$
114

 
$
117

 
Estimate of interest within rental expense
 
5

 
4

 
4

 
5

 
5

 
Total fixed charges
 
$
100

 
$
94

 
$
108

 
$
119

 
$
122

 
Ratio of earnings to fixed charges
 
2.1


2.2


1.7


1.4


—

(a) 

(a)     Earnings insufficient to cover fixed charges by approximately $276 million for the year ended December 31, 2010, primarily due to non-cash goodwill impairment charges.
(b)    Operating results have been revised to reflect the impact of discontinued operations.