Exhibit 12.01
COMPUTATION OF RATIOS
December 31, 2013
BOND RATIO
SCANA and SCE&G:
Dollars in Millions | ||||||
Year Ended December 31, 2013 | ||||||
Net earnings as defined in SCE&G's bond indenture dated April 1, 1993 (Mortgage) | $ | 1,035.8 | ||||
Divide by annualized interest charges on: | ||||||
Bonds outstanding under the Mortgage | $ | 196.0 | ||||
Total annualized interest charges | 196.0 | |||||
Bond Ratio | 5.28 |
RATIO OF EARNINGS TO FIXED CHARGES
Dollars in Millions | SCANA | SCE&G | ||||||||||||||||||||||||||||||
Years Ended December 31, | 2013 | 2012 | 2011 | 2010 | 2009 | 2013 | 2012 | 2011 | 2010 | 2009 | ||||||||||||||||||||||
Fixed Charges as defined: | ||||||||||||||||||||||||||||||||
Interest on debt | $305.9 | $301.3 | $287.0 | $270.4 | $251.5 | $226.4 | $217.4 | $207.8 | $192.4 | $181.4 | ||||||||||||||||||||||
Amortization of debt premium, discount and expense (net) | 5.3 | 4.9 | 4.8 | 5.1 | 4.8 | 4.2 | 3.9 | 3.9 | 4.0 | 3.8 | ||||||||||||||||||||||
Interest component on rentals | 4.9 | 4.9 | 5.2 | 4.6 | 7.9 | 4.5 | 3.2 | 3.6 | 3.1 | 5.5 | ||||||||||||||||||||||
Preference security dividend requirement of consolidated subsidiary | — | - | - | - | 14.2 | - | - | - | - | - | ||||||||||||||||||||||
Total Fixed Charges (A) | $316.1 | $311.1 | $297.0 | $280.1 | $278.4 | $235.1 | $224.5 | $215.3 | $199.5 | $190.7 | ||||||||||||||||||||||
Earnings as defined: | ||||||||||||||||||||||||||||||||
Pretax income from continuing operations | $693.8 | $601.6 | $555.6 | $535.4 | $524.2 | $579.7 | $509.5 | $456.5 | $433.6 | $427.8 | ||||||||||||||||||||||
Total fixed charges above | 316.1 | 311.1 | 297.0 | 280.1 | 278.4 | 235.1 | 224.5 | 215.3 | 199.5 | 190.7 | ||||||||||||||||||||||
Pretax equity in (earnings) losses of investees | (3.2 | ) | (3.3 | ) | (2.9 | ) | (1.1 | ) | (2.2 | ) | 3.5 | 3.8 | 2.3 | 2.1 | 0.1 | |||||||||||||||||
Cash distributions from equity investees | 9.6 | 3.3 | 3.6 | 4.8 | 3.3 | - | - | - | - | - | ||||||||||||||||||||||
Preference security dividend requirement from above | - | - | - | - | (14.2 | ) | - | - | - | - | - | |||||||||||||||||||||
Total Earnings (B) | $1016.3 | $912.7 | $853.3 | $819.2 | $789.5 | $818.3 | $737.8 | $674.1 | $635.2 | $619.0 | ||||||||||||||||||||||
Ratio of Earnings to Fixed Charges (B/A) | 3.22 | 2.93 | 2.87 | 2.92 | 2.84 | 3.48 | 3.29 | 3.13 | 3.18 | 3.25 |
159