QuickLinks -- Click here to rapidly navigate through this document
SOUTH CAROLINA ELECTRIC & GAS COMPANY
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
For Each of the Five Years Ended December 31, 2004
(Dollars in Millions)
| Years Ended December 31, | |||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2004 | 2003 | 2002 | 2001 | 2000 | |||||||||||||
Fixed Charges as defined: | ||||||||||||||||||
Interest on long-term debt | $ | 144.2 | $ | 141.9 | $ | 132.0 | $ | 122.7 | $ | 112.6 | ||||||||
Amortization of debt premium, discount and expense (net) | 4.2 | 3.5 | 3.1 | 2.9 | 2.6 | |||||||||||||
Interest component on rentals | 3.3 | 2.9 | 2.7 | 2.6 | 1.9 | |||||||||||||
Preference security dividend requirements of consolidated subsidiary | — | 1.7 | 3.8 | 3.8 | 3.8 | |||||||||||||
Total Fixed Charges | $ | 151.7 | $ | 150.0 | $ | 141.6 | $ | 132.0 | $ | 120.9 | ||||||||
Preference security dividend as defined: | 11.9 | 11.9 | 11.9 | 12.0 | 12.0 | |||||||||||||
Total Fixed Charges and Preference Security Dividend (A) | 163.6 | 161.9 | 153.5 | 144.0 | 132.9 | |||||||||||||
Earnings as defined: | ||||||||||||||||||
Pretax income from continuing operations | $ | 364.1 | $ | 339.4 | $ | 342.1 | $ | 357.1 | $ | 412.6 | ||||||||
Total fixed charges | 151.7 | 150.0 | 141.6 | 132.0 | 120.9 | |||||||||||||
Preference security dividend requirements of consolidated subsidiary | — | (1.7 | ) | (3.8 | ) | (3.8 | ) | (3.8 | ) | |||||||||
Total Earnings (B) | $ | 515.8 | $ | 487.7 | $ | 479.9 | $ | 485.3 | $ | 529.7 | ||||||||
Ratio of Earnings to Fixed Charges (B/A) | 3.15 | 3.01 | 3.13 | 3.37 | 3.99 | |||||||||||||
SOUTH CAROLINA ELECTRIC & GAS COMPANY COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES For Each of the Five Years Ended December 31, 2004 (Dollars in Millions)