Exhibit 12
THE DAYTON POWER AND LIGHT COMPANY
Computation of Ratio of Earnings to Fixed Charges
(Dollars in millions)
Three months ended March 31, | For the years ended December 31, | ||||||||||||||||||||||||
2014 | 2013 | 2012 | 2011 | 2010 | 2009 | ||||||||||||||||||||
Fixed Charges: | $ | $ | $ | $ | $ | $ | |||||||||||||||||||
Interest on First Mortgage Bonds | 6.2 | 35.8 | 39.0 | 38.3 | 37.9 | 38.3 | |||||||||||||||||||
Other interest expense | 1.5 | 2.9 | 2.5 | 1.2 | 1.2 | 3.2 | |||||||||||||||||||
Interest Component of Rentals | .4 | .5 | .5 | 1.9 | .7 | .6 | |||||||||||||||||||
Total Fixed Charges | $ | 8.1 | $ | 39.2 | $ | 42.0 | $ | 41.4 | $ | 39.8 | $ | 42.1 | |||||||||||||
Earnings | |||||||||||||||||||||||||
Net Income (before Preferred dividends and Extraordinary Item) | $ | 11.8 | $ | 83.6 | $ | 91.1 | $ | 193.2 | $ | 277.7 | $ | 258.9 | |||||||||||||
Plus: Income Taxes | 5.2 | 18.6 | 55.1 | 104.2 | 135.2 | 124.5 | |||||||||||||||||||
Fixed Charges (defined above) | 8.1 | 39.2 | 42.0 | 41.4 | 39.8 | 42.1 | |||||||||||||||||||
Total | $ | 25.1 | $ | 141.4 | $ | 188.2 | $ | 338.8 | $ | 452.7 | $ | 425.5 | |||||||||||||
Ratio = | Earnings | $ | 25.1 | $ | 141.4 | $ | 188.2 | $ | 338.8 | $ | 452.7 | $ | 425.5 | ||||||||||||
Fixed Charges | $ | 8.1 | $ | 39.2 | $ | 42.0 | $ | 41.4 | $ | 39.8 | $ | 42.1 | |||||||||||||
Ratio of Earnings to Fixed Charges | 3.1 | 3.6 | 4.5 | 8.2 | 11.4 | 10.1 |