EX-12.01 34 statementrecomputation.htm STATEMENT RE COMPUTATION statementrecomputation.htm
Exhibit 12.01

SCANA Corporation
Ratio of Earnings to Fixed Charges

   
Six
    
Twelve
        
   
Months
    
Months
        
   
Ended
    
Ended
  
Years Ended December 31,
  
   
June 30,
    
June 30,
                                
Dollars in Millions
  
2007
    
2007
    
2006
 
 
2005
 
 
2004
 
 
2003
 
 
2002
 
Fixed Charges as defined:
        
 
 
  
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Interest on long-term debt
$
106.3
  
$
212.0
  
$
213.1
 
$
209.4
 
$
206.9
 
$
206.1
 
$
206.1
 
Amortization of debt premium, discount and expense (net)
  
2.3
  
 
4.6
  
 
4.8
 
 
6.0
 
 
5.4
 
 
4.9
 
 
5.1
 
Interest component on rentals
  
2.8
  
 
5.8
  
 
5.0
 
 
4.7
 
 
3.9
 
 
3.6
 
 
3.4
 
Preference security dividend requirement of consolidated subsidiary
  
5.9
  
 
11.8
  
 
11.8
 
 
11.8
 
 
11.9
 
 
13.6
 
 
15.7
 
Total Fixed Charges (A)
$
117.3
  
$
234.2
  
$
234.7
 
$
231.9
 
$
228.1
 
$
228.2
 
$
230.3
 
Earnings as defined:
      
 
    
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Pretax income (loss) from continuing operations
$
191.2
  
$
400.3
  
$
440.2
 
$
208.7
 
$
387.1
 
$
426.2
 
$
(94.3
)
Total fixed charges above
  
117.3
  
 
234.2
  
 
234.7
 
 
231.9
 
 
228.1
 
 
228.2
 
 
230.3
 
Pretax equity in (earnings) losses of investees
  
9.4
  
 
20.9
  
 
20.1
 
 
71.9
 
 
(5.4
)
 
(5.2
)
 
(5.8
)
Cash distributions from equity investees
  
2.6
  
 
6.9
  
 
6.7
 
 
7.1
 
 
7.4
 
 
7.7
 
 
7.8
 
Preference security dividend requirements from above
  
(5.9
)
 
(11.8
)
 
(11.8
)
 
(11.8
)
 
(11.9
)
 
(13.6
)
 
(15.7
)
Total Earnings (B)
$
314.7
  
$
650.5
  
$
689.9
 
$
507.8
 
$
605.3
 
$
643.3
 
$
122.3
 
 
      
 
    
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Ratio of Earnings to Fixed Charges (B/A)
  
2.68
    
2.78
    
2.94
 
 
2.19
 
 
2.65
 
 
2.82
 
 
.53
 

 
Note:  For purposes of these ratios, earnings represent pre-tax income from continuing operations plus fixed charges and distributed income from equity investees, less preferred stock dividend requirements.  Fixed charges represent interest charges, preferred stock dividend requirements and the estimated interest portion of annual rentals.



 
South Carolina Electric & Gas Company
Ratios of Earnings to Fixed Charges and Earnings to Combined Fixed Charges and Preference Security Dividends

     
Six
    
Twelve
        
     
Months
    
Months
        
     
Ended
    
Ended
    
Years Ended December 31,
     
June 30,
    
June 30,
                                
   Dollars in Millions
    
2007
    
2007
    
2006
 
 
2005
 
 
2004
 
 
2003
 
 
2002
 
   Fixed Charges as defined:
          
 
 
  
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Interest on long-term debt
  
$
74.3
  
$
145.8
  
$
144.1
 
$
143.0
 
$
144.2
 
$
141.9
 
$
132.0
 
Amortization of debt premium, discount and expense (net)
    
1.8
    
3.7
    
3.8
 
 
4.2
 
  
4.2
 
  
3.5
 
  
3.1
 
Interest component on rentals
    
2.6
    
4.9
    
4.3
 
 
3.9
 
  
3.3
 
  
2.9
 
  
2.7
 
Preference security dividend requirement of consolidated subsidiary
    
-
    
-
    
-
 
 
-
 
  
-
 
  
1.7
 
  
3.8
 
Total Fixed Charges (A)
    
78.7
    
154.4
    
152.2
 
  
151.1
 
$
151.7
 
  
150.0
 
  
141.6
 
    Preference security dividend as defined:
    
5.9
    
11.8
    
11.8
    
11.8
    
11.9
    
11.9
    
11.9
  
        Total Fixed Charges and Preference Security Dividend (B)
  
$
84.6
  
$
166.2
  
$
164.0
  
$
162.9
  
$
163.6
  
$
161.9
  
$
153.5
  
    Earnings as defined:
                
 
 
 
 
 
  
 
 
  
 
 
  
 
 
Pretax income from continuing operations
  
$
117.9
  
$
300.7
  
$
331.5
 
$
113.7
 
$
362.8
 
$
338.3
 
$
341.5
  
Total fixed charges
    
78.7
    
154.4
    
152.2
 
 
151.1
 
  
151.7
 
  
150.0
 
  
141.6
 
Pretax equity in losses of investees
    
10.1
    
21.9
    
21.8
 
 
77.2
 
  
 1.3
    
 1.1
    
 0.6
  
Preference security dividend requirements of consolidated subsidiary
    
-
    
-
    
-
  
 
-
    
-
    
(1.7
)
  
(3.8
)
Total Earnings (C)
  
$
206.7
  
$
477.0
  
$
505.5
 
$
342.0
 
$
515.8
 
$
487.7
 
$
479.9
 
 
                
 
 
 
 
 
  
 
 
  
 
 
  
 
 
    Ratio of Earnings to Fixed Charges (C/A)
    
2.63
    
3.09
    
3.32
    
2.26
    
3.40
    
3.25
    
3.39
  
                                             
    Ratio of Earnings to Combined Fixed Charges and
                                            
      Preference Dividends (C/B)
    
2.44
    
2.87
    
3.08
 
 
2.10
 
 
3.15
 
 
3.01
 
 
3.13
 

 
Note:  For purposes of these ratios, earnings represent pre-tax income from continuing operations plus fixed charges and distributed income from equity investees, less preferred stock dividend requirements.  Fixed charges represent interest charges, preference security dividend requirements and the estimated interest portion of annual rentals.  Preference security dividends represent pre-tax earnings that are required to pay the dividends on SCE&G’s outstanding preferred stock.