Duke Energy Carolinas 10-K2012 FY Annual report

Filed: 1 Mar 13, 12:00am

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EXHIBIT 12.6

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES – DUKE ENERGY OHIO

The ratio of earnings to fixed charges is calculated using the Securities and Exchange Commission guidelines.


		Years Ended December 31,
(in millions)		2012		2011		2010		2009		2008
Earnings as defined for fixed charges calculation
Add:
	Pretax income from continuing operations	$	273	$	290	$	(309)	$	(240)	$	458
	Fixed charges		108		119		122		128		122
Deduct:
	Interest capitalized^(a)		15		9		8		4		19
Total earnings		$	366	$	400	$	(195)	$	(116)	$	561

Fixed charges:
	Interest on debt, including capitalized portions	$	104	$	114	$	117	$	121	$	113
	Estimate of interest within rental expense		4		5		5		7		9
Total fixed charges		$	108	$	119	$	122	$	128	$	122
Ratio of earnings to fixed charges			3.4		3.4		― ^(b)		― ^(b)		4.6

(a)	Excludes the equity costs related to Allowance for Funds Used During Construction that are included in Other Income and Expenses in the Condensed Consolidated Statements of Operations.
(b)	Earnings insufficient to cover fixed charges by approximately $317 million and $244 million during the years ended December 31, 2010 and 2009, respectively, due primarily to non-cash goodwill impairment.