EX-12 11 exh1201.txt COMPUTATION OF RATIOS
Exhibit 12.01 SOUTH CAROLINA ELECTRIC & GAS COMPANY COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES For the Twelve Months Ended September 30, 2002 and Each of the Five Years Ended December 31 (Millions of Dollars) 12 Months Ended September 30, Year Ended December 31, ------------- ------------------------------------------------------------------------ 2002 2001 2000 1999 1998 1997 ---- ---- ---- ---- ---- ---- Fixed Charges as defined: Interest expense $123.1 $115.8 $106.4 $103.0 $98.8 $98.9 Amortization of debt premium, discount and expense (net) 2.9 2.8 2.6 2.5 2.3 2.3 Interest component on rentals 2.7 1.8 1.1 0.8 0.9 1.8 Preferred security dividend requirements 3.8 3.8 3.8 3.8 3.8 0.7 --- --- --- --- --- --- Total Fixed Charges (A) $132.5 $124.2 $113.9 $110.1 $105.8 $103.7 ====== ====== ====== ====== ====== ====== Earnings, as defined: Pre-tax income from continuing operations $341.1 $349.0 $372.7 $302.7 $363.1 $295.9 Total fixed charges above 132.5 124.2 113.9 110.1 $105.8 103.7 Preferred security dividend requirements from above (3.8) (3.8) (3.8) (3.8) (3.8) (0.7) ----- ----- ----- ----- ----- ----- Total Earnings (B) $469.8 $469.4 $482.8 $409.0 $465.1 $398.9 ====== ====== ====== ====== ====== ====== Ratio of Earnings to Fixed Charges (B/A) 3.55 3.78 4.24 3.71 4.40 3.85 ==== ==== ==== ==== ====