Exhibit 12.2.b
Virginia Electric and Power Company
Computation of Ratio of Earnings to Fixed Charges and Preferred Dividends
(millions of dollars)
| Three Months Ended March 31, 2012 | Twelve Months Ended March 31, 2012 |
Years Ended December 31, | ||||||||||||||||||||||||||
| 2011 | 2010 | 2009 | 2008 | 2007 | ||||||||||||||||||||||||
Earnings, as defined: | ||||||||||||||||||||||||||||
Income from continuing operations before income taxes, extraordinary item and cumulative effect of change in accounting principle | $ | 391 | $ | 1,305 | $ | 1,362 | $ | 1,394 | $ | 503 | $ | 1,364 | $ | 977 | ||||||||||||||
Fixed charges as defined | 115 | 394 | 388 | 412 | 416 | 369 | 357 | |||||||||||||||||||||
Capitalized interest | — | — | — | — | — | — | (4 | ) | ||||||||||||||||||||
Preference security dividend requirement | (7 | ) | (27 | ) | (27 | ) | (27 | ) | (24 | ) | (26 | ) | (25 | ) | ||||||||||||||
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Total earnings, as defined | $ | 499 | $ | 1,672 | $ | 1,723 | $ | 1,779 | $ | 895 | $ | 1,707 | $ | 1,305 | ||||||||||||||
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Fixed charges, as defined: | ||||||||||||||||||||||||||||
Interest charges | $ | 104 | $ | 353 | $ | 346 | $ | 368 | $ | 376 | $ | 330 | $ | 320 | ||||||||||||||
Preference security dividend requirement | 7 | 27 | 27 | 27 | 24 | 26 | 25 | |||||||||||||||||||||
Rental interest factor | 4 | 14 | 15 | 17 | 16 | 13 | 12 | |||||||||||||||||||||
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Total fixed charges, as defined | $ | 115 | $ | 394 | $ | 388 | $ | 412 | $ | 416 | $ | 369 | $ | 357 | ||||||||||||||
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Ratio of Earnings to Fixed Charges and Preferred Dividends | 4.34 | 4.24 | 4.44 | 4.32 | 2.15 | 4.63 | 3.66 | |||||||||||||||||||||