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Exhibit 12.02
SOUTH CAROLINA ELECTRIC & GAS COMPANY
CALCULATION OF RATIOS
FOR THE YEAR ENDED DECEMBER 31, 2011
(Dollars in Millions)
CALCULATION OF BOND RATIO:
Net earnings(1) |
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| $ | 907.8 |
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Divide by annualized interest charges on: |
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Bonds outstanding under SCE&G’s bond indenture dated April 1, 1993 |
| $ | 169.2 |
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Total annualized interest charges |
| 169.2 |
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Bond Ratio |
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| 5.37 |
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(1) As defined in the Mortgage.
CALCULATION OF RATIO OF EARNINGS TO FIXED CHARGES:
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| Years Ended December 31, |
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Dollars in Millions |
| 2011 |
| 2010 |
| 2009 |
| 2008 |
| 2007 |
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Fixed Charges as defined: |
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Interest on long-term debt |
| $ | 207.8 |
| $ | 192.4 |
| $ | 181.4 |
| $ | 166.6 |
| $ | 149.8 |
|
Amortization of debt premium, discount and expense (net) |
| 3.9 |
| 4.0 |
| 3.8 |
| 3.6 |
| 3.6 |
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Interest component on rentals |
| 3.6 |
| 3.1 |
| 5.5 |
| 4.2 |
| 5.3 |
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Total Fixed Charges(A) |
| $ | 215.3 |
| $ | 199.5 |
| $ | 190.7 |
| $ | 174.4 |
| $ | 158.7 |
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Earnings as defined: |
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Pretax income from continuing operations |
| $ | 456.5 |
| $ | 433.6 |
| $ | 427.8 |
| $ | 440.1 |
| $ | 361.4 |
|
Total fixed charges |
| 215.3 |
| 199.5 |
| 190.7 |
| 174.4 |
| 158.7 |
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Pre-tax equity in (earnings) losses of investees |
| 2.3 |
| 2.1 |
| 0.5 |
| (3.0 | ) | 19.5 |
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Total Earnings (B) |
| $ | 674.1 |
| $ | 635.2 |
| $ | 619.0 |
| $ | 611.5 |
| $ | 539.6 |
|
Ratio of Earnings to Fixed Charges (B/A) |
| 3.13 |
| 3.18 |
| 3.25 |
| 3.51 |
| 3.40 |
|