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Content analysis
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- 10-K Annual report
- 3 Exhibit 3(I)M
- 10 Exhibit 10(F)
- 10 Exhibit 10(L)
- 10 Exhibit 10(N)
- 10 Exhibit 10(S)
- 10 Exhibit 10(W)
- 10 Exhibit 10(X)
- 10 Exhibit 10(Y)
- 12 Exhibit 12(A)
- 12 Exhibit 12(B)
- 21 Exhibit 21
- 23 Exhibit 23
- 31 Exhibit 31(A)
- 31 Exhibit 31(B)
- 31 Exhibit 31(C)
- 31 Exhibit 31(D)
- 32 Exhibit 32(A)
- 32 Exhibit 32(B)
- PDF Form 10-K 12/31/2004 PDF
Exhibit 12(b) |
|
Years Ended December 31, | |||||||||||||||
2004 | 2003 | 2002 | 2001 | 2000 | |||||||||||
(millions of dollars) | |||||||||||||||
RATIO OF EARNINGS TO FIXED CHARGES | |||||||||||||||
Earnings, as defined: | |||||||||||||||
Net income | $ | 750 | $ | 755 | $ | 732 | $ | 694 | $ | 622 | |||||
Income taxes | 409 | 403 | 413 | 383 | 341 | ||||||||||
Fixed charges, as below | 202 | 186 | 177 | 198 | 192 | ||||||||||
Total earnings, as defined | $ | 1,361 | $ | 1,344 | $ | 1,322 | $ | 1,275 | $ | 1,155 | |||||
Fixed charged, as defined: | |||||||||||||||
Interest charges | $ | 183 | $ | 173 | $ | 166 | $ | 187 | $ | 176 | |||||
Rental interest factor | 8 | 8 | 8 | 6 | 7 | ||||||||||
Fixed charges included in nuclear fuel cost | - | 1 | 3 | 5 | 9 | ||||||||||
Capitalized interest | 11 | 4 | - | - | - | ||||||||||
Total fixed charges, as defined | $ | 202 | $ | 186 | $ | 177 | $ | 198 | $ | 192 | |||||
Ratio of earnings to fixed charges | 6.74 | 7.23 | 7.47 | 6.44 | 6.02 | ||||||||||
RATIO OF EARNINGS TO COMBINED FIXED CHARGES | |||||||||||||||
AND PREFERRED STOCK DIVIDENDS | |||||||||||||||
Earnings, as defined: | |||||||||||||||
Net income | $ | 750 | $ | 755 | $ | 732 | $ | 694 | $ | 622 | |||||
Income taxes | 409 | 403 | 413 | 383 | 341 | ||||||||||
Fixed charges, as below | 202 | 186 | 177 | 198 | 192 | ||||||||||
Total earnings, as defined | $ | 1,361 | $ | 1,344 | $ | 1,322 | $ | 1,275 | $ | 1,155 | |||||
Fixed charged, as defined: | |||||||||||||||
Interest charges | $ | 183 | $ | 173 | $ | 166 | $ | 187 | $ | 176 | |||||
Rental interest factor | 8 | 8 | 8 | 6 | 7 | ||||||||||
Fixed charges included in nuclear fuel cost | - | 1 | 3 | 5 | 9 | ||||||||||
Capitalized interest | 11 | 4 | - | - | - | ||||||||||
Total fixed charges, as defined | 202 | 186 | 177 | 198 | 192 | ||||||||||
Non-tax deductible preferred stock dividends | 1 | 13 | 15 | 15 | 15 | ||||||||||
Ratio of income before income taxes to net income | 1.55 | 1.53 | 1.56 | 1.55 | 1.55 | ||||||||||
Preferred stock dividends before income taxes | 2 | 20 | 23 | 23 | 23 | ||||||||||
Combined fixed charges and preferred stock dividends | $ | 204 | $ | 206 | $ | 200 | $ | 221 | $ | 215 | |||||
Ratio of earnings to combined fixed charges | |||||||||||||||
and preferred stock dividends | 6.67 | 6.52 | 6.61 | 5.77 | 5.37 | ||||||||||