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Exhibit 12.1
Virginia Electric and Power Company
Computation of Ratio of Earnings to Fixed Charges
(millions of dollars)
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12 months ended September 30, 2002 |
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Earnings, as defined: | ||||||||
Earnings before income taxes and minority interests in consolidated subsidiaries |
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Distributed income from unconsolidated investees, less equity in earnings |
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Fixed charges included in the determination of net income |
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Total earnings, as defined | $1,354.9 | $1,043.4 | $1,140.6 | $1,039.5 | $712.7 | $1,043.4 | ||
Fixed charges, as defined: | ||||||||
Interest charges | $310.7 | $320.2 | $296.9 | $289.9 | $319.1 | $316.4 | ||
Rental interest factor | 10.2 | 10.1 | 6.3 | 6.9 | 6.4 | 8.6 | ||
Total fixed charges, as defined | $320.9 | $330.3 | $303.2 | $296.8 | $325.5 | $325.0 | ||
Ratio of Earnings to Fixed Charges | 4.22 | 3.16 | 3.76 | 3.50 | 2.19 | 3.21 | ||