Exhibit 12.2
Virginia Electric and Power Company
Computation of Ratio of Earnings to Fixed Charges and Preferred Dividends
(millions of dollars)
Years Ended | ||||||||||||||||||||||
Six Months Ended June 30, 2006 | Twelve Months Ended June 30, 2006 | 2005 | 2004 | 2003 | 2002 | 2001 | ||||||||||||||||
Earnings, as defined: | ||||||||||||||||||||||
Earnings before income taxes and minority interests in consolidated subsidiaries | $ | 284 | $ | 657 | $ | 754 | $ | 929 | $ | 875 | $ | 1,248 | $ | 700 | ||||||||
Fixed charges included in the determination of net income | 154 | 332 | 333 | 258 | 309 | 301 | 309 | |||||||||||||||
Total earnings, as defined | $ | 438 | $ | 989 | $ | 1,087 | $ | 1,187 | $ | 1,184 | $ | 1,549 | $ | 1,009 | ||||||||
Fixed charges, as defined: | ||||||||||||||||||||||
Interest charges | $ | 153 | $ | 330 | $ | 329 | $ | 256 | $ | 318 | $ | 308 | $ | 319 | ||||||||
Preference security dividend requirements of consolidated subsidiaries | 12 | 24 | 25 | 25 | 25 | 25 | 38 | |||||||||||||||
Rental interest factor | 5 | 10 | 10 | 9 | 10 | 10 | 10 | |||||||||||||||
Total fixed charges, as defined | $ | 170 | $ | 364 | $ | 364 | $ | 290 | $ | 353 | $ | 343 | $ | 367 | ||||||||
Ratio of Earnings to Fixed Charges and Preferred Dividends | 2.58 | 2.72 | 2.99 | 4.09 | 3.35 | 4.52 | 2.75 |