Exhibit 12.2b
Virginia Electric and Power Company
Computation of Ratio of Earnings to Fixed Charges and Preferred Dividends
(millions of dollars)
Years Ended December 31, | ||||||||||||||||||||||||||||
Nine Months Ended September 30, 2010 | Twelve Months Ended September 30, 2010 | 2009 | 2008 | 2007 | 2006 | 2005 | ||||||||||||||||||||||
Earnings, as defined: | ||||||||||||||||||||||||||||
Income from continuing operations before income taxes, extraordinary item and cumulative effect of change in accounting principle | $ | 1,214 | $ | 660 | $ | 503 | $ | 1,364 | $ | 977 | $ | 762 | $ | 754 | ||||||||||||||
Fixed charges as defined | 305 | 410 | 416 | 369 | 357 | 347 | 364 | |||||||||||||||||||||
Capitalized interest | — | — | — | — | (4 | ) | (9 | ) | (6 | ) | ||||||||||||||||||
Preference security dividend requirement | (20 | ) | (26 | ) | (24 | ) | (26 | ) | (25 | ) | (25 | ) | (25 | ) | ||||||||||||||
Total earnings, as defined | $ | 1,499 | $ | 1,044 | $ | 895 | $ | 1,707 | $ | 1,305 | $ | 1,075 | $ | 1,087 | ||||||||||||||
Fixed charges, as defined: | ||||||||||||||||||||||||||||
Interest charges | $ | 273 | $ | 368 | $ | 376 | $ | 330 | $ | 320 | $ | 311 | $ | 329 | ||||||||||||||
Preference security dividend requirement | 20 | 26 | 24 | 26 | 25 | 25 | 25 | |||||||||||||||||||||
Rental interest factor | 12 | 16 | 16 | 13 | 12 | 11 | 10 | |||||||||||||||||||||
Total fixed charges, as defined | $ | 305 | $ | 410 | $ | 416 | $ | 369 | $ | 357 | $ | 347 | $ | 364 | ||||||||||||||
Ratio of Earnings to Fixed Charges and Preferred Dividends | 4.91 | 2.55 | 2.15 | 4.63 | 3.66 | 3.10 | 2.99 |