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Exhibit 12.2
Virginia Electric and Power Company
Computation of Ratio of Earnings to Fixed Charges and Preferred Dividends
(millions of dollars)
Years Ended | |||||||||
3 Months Ended March 31, 2005 | 12 Months Ended March 31, 2005 |
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Earnings, as defined: | |||||||||
Earnings before income taxes and minority interests in consolidated subsidiaries |
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Fixed charges included in the determination of net income |
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Total earnings, as defined | $ 110 | $ 796 | $ 936 | $ 1,230 | $ 1,502 | $ 1,043 | $ 1,140 | ||
Fixed charges, as defined: | |||||||||
Interest charges | $ 75 | $ 266 | $ 262 | $ 320 | $ 311 | $ 320 | $ 297 | ||
Preference security dividend requirements of consolidated subsidiaries |
6 |
25 |
25 |
25 |
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Rental interest factor | 3 | 11 | 11 | 10 | 10 | 10 | 6 | ||
Total fixed charges, as defined | $ 84 | $ 302 | $ 298 | $ 355 | $ 346 | $ 368 | $ 357 | ||
Ratio of Earnings to Fixed Charges and Preferred Dividends | 1.31 | 2.64 | 3.14
| 3.47 | 4.34 | 2.83 | 3.19 | ||