EX-12.01 2 a12312013-ex1201.htm COMPUTATION OF RATIOS 12.31.2013 - EX12.01

Exhibit 12.01
COMPUTATION OF RATIOS
December 31, 2013
BOND RATIO
    
SCANA and SCE&G:
Dollars in Millions
 
 
Year Ended December 31, 2013
 
 
Net earnings as defined in SCE&G's bond indenture dated April 1, 1993 (Mortgage)
 
$
1,035.8

Divide by annualized interest charges on:
 
 
Bonds outstanding under the Mortgage
$
196.0

 
Total annualized interest charges
196.0

 
Bond Ratio
 
5.28



RATIO OF EARNINGS TO FIXED CHARGES
Dollars in Millions
 
SCANA
 
SCE&G
Years Ended December 31,
 
2013
2012
2011
2010
2009
 
2013
2012
2011
2010
2009
Fixed Charges as defined:
 
 
 
 
 
 
 
 
 
 
 
 
Interest on debt
 

$305.9


$301.3


$287.0


$270.4


$251.5

 

$226.4


$217.4


$207.8


$192.4


$181.4

Amortization of debt premium, discount and expense (net)
 
5.3

4.9

4.8

5.1

4.8

 
4.2

3.9

3.9

4.0

3.8

Interest component on rentals
 
4.9

4.9

5.2

4.6

7.9

 
4.5

3.2

3.6

3.1

5.5

Preference security dividend requirement of consolidated subsidiary
 
—

-

-

-

14.2

 
-

-

-

-

-

Total Fixed Charges (A)
 

$316.1


$311.1


$297.0


$280.1


$278.4

 

$235.1


$224.5


$215.3


$199.5


$190.7

Earnings as defined:
 
 
 
 
 
 
 
 
 
 
 
 
Pretax income from continuing operations
 

$693.8


$601.6


$555.6


$535.4


$524.2

 

$579.7


$509.5


$456.5


$433.6


$427.8

Total fixed charges above
 
316.1

311.1

297.0

280.1

278.4

 
235.1

224.5

215.3

199.5

190.7

Pretax equity in (earnings) losses of investees
 
(3.2
)
(3.3
)
(2.9
)
(1.1
)
(2.2
)
 
3.5

3.8

2.3

2.1

0.1

Cash distributions from equity investees
 
9.6

3.3

3.6

4.8

3.3

 
-

-

-

-

-

Preference security dividend requirement from above
 
-

-

-

-

(14.2
)
 
-

-

-

-

-

Total Earnings (B)
 

$1016.3


$912.7


$853.3


$819.2


$789.5

 

$818.3


$737.8


$674.1


$635.2


$619.0

Ratio of Earnings to Fixed Charges (B/A)
 
3.22

2.93

2.87

2.92

2.84

 
3.48

3.29

3.13

3.18

3.25





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