Duke Energy Progress 8-K Other Events

Exhibit No. 12

CAROLINA POWER & LIGHT COMPANY

d/b/a Progress Energy Carolinas, Inc.

Computation of Ratio of Earnings to Fixed Charges

For the Twelve Months Ended June 30

(dollars in millions)	2011			2010
Earnings, as defined:
Net income	$	593		$	540
Fixed charges, as below		231			218
Income attributable to noncontrolling interests, net of tax		(2	)		3
Income taxes		326			295
Total earnings, as defined	$	1,148		$	1,056
Fixed Charges, as defined:
Interest on long-term debt	$	193		$	189
Other interest		13			12
Imputed interest factor in rentals – charged principally to operating expenses		25			17
Total fixed charges, as defined	$	231		$	218
Preferred dividends, as defined		5			5
Total fixed charges and preferred dividends combined	$	236		$	223
Ratio of Earnings to Fixed Charges		4.97			4.84
Ratio of Earnings to Fixed Charges and Preferred Dividends Combined		4.86			4.74