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Content analysis
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- 10-K Annual report
- 10.3 Trust Agreement
- 10.4 Teco Energy, Inc. Annual Incentive Compensation Plan
- 10.14 Form of Restricted Stock Agreement
- 10.18.1 Compensatory Arrangement with Executive Officers
- 12.1 Teco Energy, Inc. Ration of Earnings to Fixed Charges
- 12.2 Tampa Electric Company Ration of Earnings to Fixed Charges
- 21 Subsidiaries of the Registrant
- 23.1 Consent
- 23.2 Consent
- 23.3 Consent
- 31.1 Certification
- 31.2 Certification
- 31.3 Certification
- 31.4 Certification
- 32.1 Certification
- 32.2 Certification
Exhibit 12.2
TAMPA ELECTRIC COMPANY
RATIO OF EARNINGS TO FIXED CHARGES
The following table sets forth Tampa Electric Company’s ratio of earnings to fixed charges for the periods indicated.
Year Ended Dec. 31, | ||||||||||||||||||||
(millions) | 2008 | 2007 | 2006 | 2005 | 2004 | |||||||||||||||
Income from continuing operations, before income tax | $ | 261.9 | $ | 278.4 | $ | 264.7 | $ | 285.7 | $ | 274.9 | ||||||||||
Interest expense | 135.8 | 131.4 | 124.9 | 114.3 | 112.4 | |||||||||||||||
Earnings before taxes and fixed charges | $ | 397.7 | $ | 409.8 | $ | 389.6 | $ | 400.0 | $ | 387.3 | ||||||||||
Interest expense | $ | 135.8 | $ | 131.4 | $ | 124.9 | $ | 114.3 | $ | 112.4 | ||||||||||
Total fixed charges | $ | 135.8 | $ | 131.4 | $ | 124.9 | $ | 114.3 | $ | 112.4 | ||||||||||
Ratio of earnings to fixed charges | 2.93 | x | 3.12 | x | 3.12 | x | 3.50 | x | 3.45 | x | ||||||||||
For the purposes of calculating these ratios, earnings consist of income from continuing operations before income taxes and fixed charges. Fixed charges consist of interest expense on indebtedness, amortization of debt premium and an estimate of the interest component of rentals. Interest expense includes total interest expense, excluding AFUDC, and an estimate of the interest component of rentals.