EX-12.4 6 duk-20151231x10kxexx124.htm COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES - DUKE ENERGY PROGRESS, LLC Exhibit
EXHIBIT 12.4


COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES - DUKE ENERGY PROGRESS
The ratio of earnings to fixed charges is calculated using the Securities and Exchange Commission guidelines.
 
Years Ended December 31,
(in millions)
2015
 
2014
 
2013
 
2012
 
2011
Earnings as defined for fixed charges calculation
 
 
 
 
 
 
 
 
 
 
Add:
 
 
 
 
 
 
 
 
 
 
Pretax income from continuing operations
 
$
860

 
$
753

 
$
789

 
$
382

 
$
772

Fixed charges
 
318

 
305

 
289

 
291

 
235

Total earnings
 
$
1,178

 
$
1,058

 
$
1,078

 
$
673

 
$
1,007

 
 
 
 
 
 
 
 
 
 
 
Fixed charges:
 
 
 
 
 
 
 
 
 
 
Interest on debt, including capitalized portions
 
$
254

 
$
238

 
$
224

 
$
230

 
$
205

Estimate of interest within rental expense
 
64

 
67

 
65

 
61

 
30

Total fixed charges
 
$
318

 
$
305

 
$
289

 
$
291

 
$
235

Preferred dividends, as defined
 
—

 
—

 
—

 
4

 
4

Total fixed charges and preferred dividends combined
 
$
318

 
$
305

 
$
289

 
$
295

 
$
239

Ratio of earnings to fixed charges
 
3.7

 
3.5

 
3.7

 
2.3

 
4.3

Ratio of earnings to fixed charges and preferred dividends combined
 
3.7

 
3.5

 
3.7

 
2.3

 
4.2