Exhibit 12
Virginia Electric and Power Company
Computation of Ratio of Earnings to Fixed Charges
(millions of dollars)
Years Ended | |||||||||||||||
2002 | 2001 | 2000 | 1999 | 1998 | |||||||||||
Earnings, as defined: | |||||||||||||||
Earnings before income taxes and | $ | 1,197.6 | $ | 732.8 | $ | 837.4 | $ | 742.7 | $ | 387.2 | |||||
Fixed charges included in the |
| 304.1 |
| 310.6 |
| 303.2 |
| 296.8 |
| 325.5 | |||||
Total earnings, as defined | $ | 1,501.7 | $ | 1,043.4 | $ | 1,140.6 | $ | 1,039.5 | $ | 712.7 | |||||
Fixed charges, as defined | |||||||||||||||
Interest charges | $ | 310.9 | $ | 320.2 | $ | 296.9 | $ | 289.9 | $ | 319.1 | |||||
Rental interest factor |
| 9.8 |
| 10.1 |
| 6.3 |
| 6.9 |
| 6.4 | |||||
Total fixed charges, as defined | $ | 320.7 | $ | 330.3 | $ | 303.2 | $ | 296.8 | $ | 325.5 | |||||
Ratio of Earnings to Fixed Charges |
| 4.68 |
| 3.16 |
| 3.76 |
| 3.50 |
| 2.19 | |||||
