EX-12.2 3 d594449dex122.htm TAMPA ELECTRIC RATIO OF EARNINGS Tampa Electric Ratio of Earnings

Exhibit 12.2

TAMPA ELECTRIC COMPANY

RATIO OF EARNINGS TO FIXED CHARGES

The following table sets forth Tampa Electric Company’s ratio of earnings to fixed charges for the periods indicated.

 

     9-months
ended
Sept. 30,
    12-months
ended
Sept. 30,
    Year Ended Dec. 31,  

(millions)

   2013     2013     2012     2011     2010     2009     2008  

Income from continuing operations, before income taxes

   $ 289.3      $ 360.8      $ 368.9      $ 380.7      $ 386.6      $ 303.7      $ 261.9   

Interest expense

     84.8        113.1        129.9        141.9        143.9        141.2        135.8   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Earnings before taxes and fixed charges

   $ 374.1      $ 473.9      $ 498.8      $ 522.6      $ 530.5      $ 444.9      $ 397.7   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Interest expense

   $ 84.8      $ 113.1      $ 129.9      $ 141.9      $ 143.9      $ 141.2      $ 135.8   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total fixed charges

   $ 84.8      $ 113.1      $ 129.9      $ 141.9      $ 143.9      $ 141.2      $ 135.8   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Ratio of earnings to fixed charges

     4.41     4.19     3.84     3.68     3.69     3.15     2.93
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

For the purposes of calculating these ratios, earnings consist of income from continuing operations before income taxes and fixed charges. Fixed charges consist of interest expense on indebtedness, amortization of debt premium and an estimate of the interest component of rentals. Interest expense includes total interest expense, excluding AFUDC, and an estimate of the interest component of rentals.