Exhibit 12.01
SCANA CORPORATION
CALCULATION OF RATIOS
FOR THE YEAR ENDED DECEMBER 31, 2007
(Dollars in Millions)
CALCULATION OF BOND RATIO:
Net earnings (1) | $ | 758,419,744 | |||||
Divide by annualized interest charges on: | |||||||
Bonds outstanding under SCE&G's bond indenture dated April 1, 1993 (Mortgage) | $ | 105,156,325 | |||||
Other indebtedness (1) | 1,999,063 | ||||||
Total annualized interest charges | 107,155,388 | ||||||
Bond Ratio | 7.08 |
(1) As defined in the Mortgage.
CALCULATION OF PREFERRED STOCK RATIO:
Net earnings (2) | $ | 237,814,043 | |||||
Divide by annualized interest charges on: | |||||||
Bonds outstanding under SCE&G's mortgage bond indentures | $ | 107,155,388 | |||||
Preferred dividend requirements | 7,255,054 | ||||||
Total annualized interest charges | 114,410,442 | ||||||
Preferred Stock Ratio | 2.08 |
(2) As defined under SCE&G's Restated Articles of Incorporation.
CALCULATION OF RATIO OF EARNINGS TO FIXED CHARGES:
Years Ended December 31, | ||||||||||||||||
Dollars in Millions | 2007 | 2006 | 2005 | 2004 | 2003 | |||||||||||
Fixed Charges as defined: | ||||||||||||||||
Interest on long-term debt | $ | 214.9 | $ | 213.1 | $ | 209.4 | $ | 206.9 | $ | 206.1 | ||||||
Amortization of debt premium, discount and expense (net) | 4.6 | 4.8 | 6.0 | 5.4 | 4.9 | |||||||||||
Interest component on rentals | 6.3 | 5.0 | 4.7 | 3.9 | 3.6 | |||||||||||
Preference security dividend requirement | 11.7 | 11.8 | 11.8 | 11.9 | 13.6 | |||||||||||
Total Fixed Charges (A) | $ | 237.5 | $ | 234.7 | $ | 231.9 | $ | 228.1 | $ | 228.2 | ||||||
Earnings as defined: | ||||||||||||||||
Pretax income (loss) from continuing operations | $ | 467.6 | $ | 440.2 | $ | 208.7 | $ | 387.1 | $ | 426.2 | ||||||
Total fixed charges above | 237.5 | 234.7 | 231.9 | 228.1 | 228.2 | |||||||||||
Pretax equity in (earnings) losses of investees | 18.1 | 20.1 | 71.9 | (5.4 | ) | (5.2 | ||||||||||
Cash distributions from equity investees | 7.8 | 6.7 | 7.1 | 7.4 | 7.7 | |||||||||||
Preference security dividend requirements from above | (11.7 | ) | (11.8 | ) | (11.8 | ) | (11.9 | ) | (13.6 | |||||||
Total Earnings (B) | $ | 719.3 | $ | 689.9 | $ | 507.8 | $ | 605.3 | $ | 643.3 | ||||||
Ratio of Earnings to Fixed Charges (B/A) | 3.03 | 2.94 | 2.19 | 2.65 | 2.82 |