Exhibit 12.2
Virginia Electric and Power Company
Computation of Ratio of Earnings to Fixed Charges and Preferred Dividends
(millions of dollars)
Nine Months Ended September 30, 2008 | Twelve Months Ended September 30, 2008 |
Years Ended December 31, | |||||||||||||||||||
2007 | 2006 | 2005 | 2004 | 2003 | |||||||||||||||||
Earnings, as defined: | |||||||||||||||||||||
Earnings from continuing operations before income taxes and minority interests in consolidated subsidiaries | $ | 1,154 | $ | 1,348 | $ | 977 | $ | 762 | $ | 754 | $ | 929 | $ | 875 | |||||||
Fixed charges included in the determination of net income | 264 | 347 | 328 | 313 | 333 | 258 | 309 | ||||||||||||||
Total earnings, as defined | $ | 1,418 | $ | 1,695 | $ | 1,305 | $ | 1,075 | $ | 1,087 | $ | 1,187 | $ | 1,184 | |||||||
Fixed charges, as defined: | |||||||||||||||||||||
Interest charges | $ | 254 | $ | 333 | $ | 320 | $ | 311 | $ | 329 | $ | 256 | $ | 318 | |||||||
Preference security dividend requirements of consolidated subsidiaries | 20 | 26 | 25 | 25 | 25 | 25 | 25 | ||||||||||||||
Rental interest factor | 10 | 14 | 12 | 11 | 10 | 9 | 10 | ||||||||||||||
Total fixed charges, as defined | $ | 284 | $ | 373 | $ | 357 | $ | 347 | $ | 364 | $ | 290 | $ | 353 | |||||||
Ratio of Earnings to Fixed Charges and Preferred Dividends | 4.99 | 4.54 | 3.66 | 3.10 | 2.99 | 4.09 | 3.35 |