Exhibit 12a
FLORIDA PROGRESS CORPORATION
Statement of Computation of Ratios
(Dollars In Millions)
Ratio of Earnings to Fixed Charges:
2001 2000 1999 1998 1997
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Income from continuing operations $ 265.4 $ 135.3 $304.2 $271.4 $ 48.4
Add:
Operating Income Taxes (172.7) (124.7) 84.9 142.3 63.1
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Income Before Taxes 92.7 10.6 389.1 413.7 111.5
Total Interest Charges 194.8 229.0 201.0 196.3 170.3
Preferred Dividend Requirements of
Subsidiary 1.5 1.5 1.5 1.5 1.5
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Total Earnings (A) $ 289.0 $ 241.1 $591.6 $611.5 $283.3
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Fixed Charges including
Preferred Stock Dividends (B) 197.2 231.6 203.3 198.6 172.6
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Ratio of Earnings to
Fixed Charges (A/B) 1.47 1.04 2.91 3.08 1.64
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Exhibit 12b
FLORIDA POWER CORPORATION
Statement of Computation of Ratios
(Dollars In Millions)
Ratio of Earnings to Fixed Charges:
2001 2000 1999 1998 1997
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Net Income $311.1 $211.8 $267.0 $250.1 $135.9
Income Taxes 182.6 150.5 151.3 141.0 69.9
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Income Before Taxes 493.7 362.3 418.3 391.1 205.8
Total Interest Charges 114.8 128.5 124.0 136.5 117.3
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Total Earnings (A) $608.5 $490.8 $542.3 $527.6 $323.1
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Fixed Charges (B) $114.8 $128.5 $124.0 $136.5 $117.3
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Preferred Dividends grossed
up for effective tax rate 2.4 2.6 2.3 2.3 2.3
Total Fixed Charges plus
Preferred Dividends (C) 117.2 131.1 126.3 138.8 119.6
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Ratio of Earnings to
Fixed Charges (A/B) 5.30 3.82 4.37 3.87 2.75
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Ratio of Earnings to Fixed Charges
and Preferred Dividends (A/C) 5.19 3.74 4.29 3.80 2.70
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