EX-12.02 12 exhibit12-02.htm CALCULATION OF RATIOS exhibit12-02.htm


Exhibit 12.02

SOUTH CAROLINA ELECTRIC & GAS COMPANY
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
 
$
181.4
 
$
166.6
 
$
149.8
 
$
144.1
 
$
143.0
 
Amortization of debt premium, discount and expense (net)
   
3.8
   
3.6
   
3.6
   
3.8
   
4.2
 
Interest component on rentals
   
5.5
   
4.2
   
5.3
   
4.3
   
3.9
 
Total Fixed Charges(A)
 
$
190.7
 
$
174.4
 
$
158.7
 
152.2
 
151.1
 
                                 
Earnings as defined:
                               
Pretax income from continuing operations
 
$
427.8
 
$
440.1
 
$
361.4
 
$
331.5
 
$
113.7
 
Total fixed charges
   
190.7
   
174.4
   
158.7
   
152.2
   
151.1
 
Pre-tax equity in (earnings) losses of investees
   
0.5
   
(3.0
 
19.5
   
21.8
   
77.2
 
Total Earnings (B)
 
$
619.0
 
$
611.5
 
$
539.6
 
$
505.5
 
$
342.0
 
                                 
Ratio of Earnings to Fixed Charges (B/A)
   
3.25
   
3.51
   
3.40
   
3.32
   
2.26