Exhibit 12.2.b
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, 2012 | Twelve Months Ended September 30, 2012 | 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 | $ | 1,343 | $ | 1,381 | $ | 1,362 | $ | 1,394 | $ | 503 | $ | 1,364 | $ | 977 | ||||||||||||||
Fixed charges as defined | 339 | 397 | 388 | 412 | 416 | 369 | 357 | |||||||||||||||||||||
Capitalized interest | — | — | — | — | — | — | (4 | ) | ||||||||||||||||||||
Preference security dividend requirement | (20 | ) | (27 | ) | (27 | ) | (27 | ) | (24 | ) | (26 | ) | (25 | ) | ||||||||||||||
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Total earnings, as defined | $ | 1,662 | $ | 1,751 | $ | 1,723 | $ | 1,779 | $ | 895 | $ | 1,707 | $ | 1,305 | ||||||||||||||
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Fixed charges, as defined: | ||||||||||||||||||||||||||||
Interest charges | $ | 309 | $ | 356 | $ | 346 | $ | 368 | $ | 376 | $ | 330 | $ | 320 | ||||||||||||||
Preference security dividend requirement | 20 | 27 | 27 | 27 | 24 | 26 | 25 | |||||||||||||||||||||
Rental interest factor | 10 | 14 | 15 | 17 | 16 | 13 | 12 | |||||||||||||||||||||
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Total fixed charges, as defined | $ | 339 | $ | 397 | $ | 388 | $ | 412 | $ | 416 | $ | 369 | $ | 357 | ||||||||||||||
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Ratio of Earnings to Fixed Charges and Preferred Dividends | 4.90 | 4.41 | 4.44 | 4.32 | 2.15 | 4.63 | 3.66 | |||||||||||||||||||||