EX-12.2 3 l21304aexv12w2.htm EX-12.2 EX-12.2
 

EXHIBIT 12.2
DUQUESNE LIGHT COMPANY AND SUBSIDIARIES
Calculation of Ratio of Earnings to Fixed Charges and Preferred and Preference Stock Dividend Requirements
                                                 
    (Millions of Dollars)  
    Three Months Ended        
    June 30,     Year Ended December 31,  
    2006     2005     2004     2003     2002     2001  
     
Fixed Charges:
                                                
Interest on long-term debt
   $ 20.8     $ 47.4     $ 45.6     $ 53.1     $ 55.2     $ 62.3  
Other interest
     0.2       1.3       1.4       1.5       2.2       0.7  
Company obligated mandatorily redeemable preferred securities dividend requirement (a)
     —       —       —       6.3       12.6       12.6  
Portion of lease payments representing an interest factor
     1.5       2.0       2.5       3.9       1.9       3.1  
Dividend requirements
     4.0       8.0       6.6       3.2       3.3       3.4  
 
                                    
Total Fixed Charges
   $ 26.5     $ 58.7     $ 56.1     $ 68.0     $ 75.2     $ 82.1  
 
                                    
 
                                                
Earnings:
                                                
Net income
   $ 14.3     $ 73.0     $ 67.8     $ 69.6     $ 75.4     $ 53.4  
Income tax expense
     8.9       42.5       44.3       45.4       48.9       30.8  
Fixed charges as above
     26.5       58.7       56.1       68.0       75.2       82.1  
 
                                    
Total Earnings
   $ 49.7     $ 174.2     $ 168.2     $ 183.0     $ 199.5     $ 166.3  
 
                                    
 
                                                
Ratio Of Earnings To Fixed Charges and Preferred and Preference Stock Dividend Requirements
     1.88       2.97       3.00       2.69       2.65       2.03  
 
                                    
 
(a)   From July 1, 2003 until their redemption in 2004, dividends on the monthly income preferred securities were included with interest on long-term debt due to the adoption of SFAS No. 150.

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