EX-12.01 2 a12-1042_3ex12d01.htm EX-12.01

Exhibit 12.01

 

SCANA CORPORATION

CALCULATION OF RATIOS

FOR THE YEAR ENDED DECEMBER 31, 2011

(Dollars in Millions)

 

CALCULATION OF BOND RATIO:

 

Net earnings(1)

 

 

 

$

907.8

 

Divide by annualized interest charges on:

 

 

 

 

 

Bonds outstanding under SCE&G’s bond indenture dated April 1, 1993

 

$

169.2

 

 

 

Total annualized interest charges

 

169.2

 

 

 

Bond Ratio

 

 

 

5.37

 

 


(1)   As defined in the Mortgage.

 

CALCULATION OF RATIO OF EARNINGS TO FIXED CHARGES:

 

 

 

Years Ended December 31,

 

Dollars in Millions

 

2011

 

2010

 

2009

 

2008

 

2007

 

Fixed Charges as defined:

 

 

 

 

 

 

 

 

 

 

 

Interest on long-term debt

 

$

287.0

 

$

270.4

 

$

251.5

 

$

238.2

 

$

214.9

 

Amortization of debt premium, discount and expense (net)

 

4.8

 

5.1

 

4.8

 

4.6

 

4.6

 

Interest component on rentals

 

5.2

 

4.6

 

7.9

 

4.5

 

6.3

 

Preference security dividend requirement of consolidated subsidiary

 

 

 

14.2

 

11.7

 

11.7

 

Total Fixed Charges (A)

 

$

297.0

 

$

280.1

 

$

278.4

 

$

259.0

 

$

237.5

 

Earnings as defined:

 

 

 

 

 

 

 

 

 

 

 

Pretax income (loss) from continuing operations

 

$

555.6

 

$

535.4

 

$

524.2

 

$

542.1

 

$

467.6

 

Total fixed charges above

 

297.0

 

280.1

 

278.4

 

259.0

 

237.5

 

Pretax equity in (earnings) losses of investees

 

(2.9

)

(1.1

)

(2.2

)

(8.0

)

18.1

 

Cash distributions from equity investees

 

3.6

 

4.8

 

3.3

 

6.2

 

7.8

 

Preference security dividend requirement from above

 

 

 

(14.2

)

(11.7

)

(11.7

)

Total Earnings (B)

 

$

853.3

 

$

819.2

 

$

789.5

 

$

787.6

 

$

719.3

 

Ratio of Earnings to Fixed Charges (B/A)

 

2.87

 

2.92

 

2.84

 

3.04

 

3.03