EX-12.01 11 exhibi12-01.htm CALCULATION OF RATIOS exhibi12-01.htm

 Exhibit 12.01

SCANA CORPORATION
CALCULATION OF RATIOS
FOR THE YEAR ENDED DECEMBER 31, 2009
(Dollars in Millions)

CALCULATION OF BOND RATIO:

Net earnings (1)
        
$
829.1
  
Divide by annualized interest charges on:
              
Bonds outstanding under SCE&G’s bond indenture dated April 1, 1993 (Mortgage)
  
$
160.2
        
Total annualized interest charges
    
  160.2
        
Bond Ratio
          
5.18
  

(1)   As defined in the Mortgage.


CALCULATION OF RATIO OF EARNINGS TO FIXED CHARGES:
 
   
Years Ended December 31,
  
Dollars in Millions
    
2009
    
2008
    
2007
    
2006
    
2005
  
Fixed Charges as defined:
                                
Interest on long-term debt
  
$
251.5
  
$
238.2
  
$
214.9
  
$
213.1
  
$
209.4
  
Amortization of debt premium, discount and expense (net)
    
4.8
    
4.6
    
4.6
    
4.8
    
6.0
  
Interest component on rentals
    
7.9
    
4.5
    
6.3
    
5.0
    
4.7
  
Preference security dividend requirement of consolidated subsidiary
    
14.2
    
11.7
    
11.7
    
11.8
    
11.8
  
Total Fixed Charges (A)
  
$
278.4
  
$
259.0
  
$
237.5
  
$
234.7
  
$
231.9
  
Earnings as defined:
                                
Pretax income (loss) from continuing operations
  
$
524.2
  
$
542.1
  
$
467.6
  
$
440.2
  
$
208.7
  
Total fixed charges above
    
278.4
    
259.0
    
237.5
    
234.7
    
231.9
  
Pretax equity in (earnings) losses of investees
    
(2.2
)
  
(8.0
)
  
18.1
    
20.1
    
71.9
  
Cash distributions from equity investees
    
3.3
    
6.2
    
7.8
    
6.7
    
7.1
  
Preference security dividend requirement from above
    
(14.2
)
  
(11.7
)
  
(11.7
)
  
(11.8
)
  
(11.8
)
Total Earnings (B)
  
$
789.5
  
$
787.6
  
$
719.3
  
$
689.9
  
$
507.8
  
                                 
Ratio of Earnings to Fixed Charges (B/A)
    
2.84
    
3.04
    
3.03
    
2.94
    
2.19