Exhibit No. 12
FLORIDA POWER CORPORATION
d/b/a Progress Energy Florida, 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 | $ | 446 | $ | 475 | ||||
Fixed charges, as below | 279 | 264 | ||||||
Income taxes | 263 | 267 | ||||||
|
|
|
| |||||
Total earnings, as defined | $ | 988 | $ | 1,006 | ||||
|
|
|
| |||||
Fixed Charges, as defined: | ||||||||
Interest on long-term debt | $ | 257 | $ | 246 | ||||
Other interest | 18 | 15 | ||||||
Imputed interest factor in rentals – charged principally to operating expenses | 4 | 3 | ||||||
|
|
|
| |||||
Total fixed charges, as defined | $ | 279 | $ | 264 | ||||
|
|
|
| |||||
Preferred dividends, as defined | 2 | 2 | ||||||
|
|
|
| |||||
Total fixed charges and preferred dividends combined | $ | 281 | $ | 266 | ||||
|
|
|
| |||||
Ratio of Earnings to Fixed Charges | 3.54 | 3.81 | ||||||
Ratio of Earnings to Fixed Charges and Preferred Dividends Combined | 3.52 | 3.78 | ||||||
