QuickLinks -- Click here to rapidly navigate through this document
SOUTH CAROLINA ELECTRIC & GAS COMPANY
CALCULATION OF RATIOS
FOR THE YEAR ENDED DECEMBER 31, 2010
(Dollars in Millions)
Net earnings(1) | $ | 858.1 | |||||
Divide by annualized interest charges on: | |||||||
Bonds outstanding under SCE&G's bond indenture dated April 1, 1993 | $ | 160.2 | |||||
Total annualized interest charges | 160.2 | ||||||
Bond Ratio | 5.36 |
- (1)
- As defined in the Mortgage.
CALCULATION OF RATIO OF EARNINGS TO FIXED CHARGES:
| Years Ended December 31, | |||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dollars in Millions | 2010 | 2009 | 2008 | 2007 | 2006 | |||||||||||
Fixed Charges as defined: | ||||||||||||||||
Interest on long-term debt | $ | 192.4 | $ | 181.4 | $ | 166.6 | $ | 149.8 | $ | 144.1 | ||||||
Amortization of debt premium, discount and expense (net) | 4.0 | 3.8 | 3.6 | 3.6 | 3.8 | |||||||||||
Interest component on rentals | 3.1 | 5.5 | 4.2 | 5.3 | 4.3 | |||||||||||
Total Fixed Charges(A) | $ | 199.5 | $ | 190.7 | $ | 174.4 | $ | 158.7 | $ | 152.2 | ||||||
Earnings as defined: | ||||||||||||||||
Pretax income from continuing operations | $ | 433.6 | $ | 427.8 | $ | 440.1 | $ | 361.4 | $ | 331.5 | ||||||
Total fixed charges | 199.5 | 190.7 | 174.4 | 158.7 | 152.2 | |||||||||||
Pre-tax equity in (earnings) losses of investees | 2.1 | 0.5 | (3.0 | ) | 19.5 | 21.8 | ||||||||||
Total Earnings (B) | $ | 635.2 | $ | 619.0 | $ | 611.5 | $ | 539.6 | $ | 505.5 | ||||||
Ratio of Earnings to Fixed Charges (B/A) | 3.18 | 3.25 | 3.51 | 3.40 | 3.32 |
SOUTH CAROLINA ELECTRIC & GAS COMPANY CALCULATION OF RATIOS FOR THE YEAR ENDED DECEMBER 31, 2010 (Dollars in Millions)