EX-12.1 4 duk-20171231x10kxexx121.htm COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES Exhibit
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.
 
Years Ended December 31,
(in millions)
2017
 
2016
 
2015
 
2014
 
2013
Earnings as defined for fixed charges calculation
 
 
 
 
 
 
 
 
 
 
Add:
 
 
 
 
 
 
 
 
 
 
Pretax income from continuing operations(a)
 
$
4,142

 
$
3,668

 
$
3,832


$
3,636


$
3,204

Fixed charges
 
2,205

 
2,170

 
1,859

 
1,871

 
1,886

Distributed income of equity investees
 
16

 
30

 
104

 
136

 
109

Deduct:
 
 
 
 
 
 
 
 
 
 
Interest capitalized
 
4

 
10

 
18

 
7

 
8

Total earnings
 
$
6,359

 
$
5,858

 
$
5,777

 
$
5,636

 
$
5,191

 
 
 
 
 
 
 
 
 
 
 
Fixed charges:
 
 
 
 
 
 
 
 
 
 
Interest on debt, including capitalized portions
 
$
2,104

 
$
2,066

 
$
1,733

 
$
1,733

 
$
1,760

Estimate of interest within rental expense
 
101

 
104

 
126

 
138

 
126

Total fixed charges
 
$
2,205

 
$
2,170

 
$
1,859

 
$
1,871

 
$
1,886

Ratio of earnings to fixed charges
 
2.9

 
2.7

 
3.1

 
3.0

 
2.8

(a)    Excludes amounts attributable to noncontrolling interests and income or loss from equity investees.