Duke Energy Indiana, LLC - FORM 10-K - EX-12 - COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES - March 12, 2010

Attached files

file filename
10-K - FORM 10-K - Duke Energy Indiana, LLCd10k.htm
EX-31.1 - SECTION 302 CEO CERTIFICATION - Duke Energy Indiana, LLCdex311.htm
EX-23.1 - CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM - Duke Energy Indiana, LLCdex231.htm
EX-32.1 - SECTION 906 CEO CERTIFICATION - Duke Energy Indiana, LLCdex321.htm
EX-31.2 - SECTION 302 CFO CERTIFICATION - Duke Energy Indiana, LLCdex312.htm
EX-32.2 - SECTION 906 CFO CERTIFICATION - Duke Energy Indiana, LLCdex322.htm

Exhibit 12

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

The ratio of earnings to fixed charges is calculated using the Securities and Exchange Commission guidelines.

 

     Year Ended December 31,
     2009    2008    2007    2006    2005
     (dollars in millions)

Earnings as defined for fixed charges calculation

               

Add:

               

Pre-tax income

    $ 317    $ 408    $ 386    $ 200    $ 325

Fixed charges

      165      140      130      145      126

Deduct:

               

Interest capitalized(a)

      13      10      11      16      8
                                  

Total earnings (as defined for the Fixed Charges calculation)

    $ 469    $ 538    $ 505    $ 329    $ 443
                                  

Fixed charges:

               

Interest on debt, including capitalized portions

    $ 157    $ 133    $ 120    $ 138    $ 118

Estimate of interest within rental expense

      8      7      10      7      8
                                  

Total fixed charges

    $ 165    $ 140    $ 130    $ 145    $ 126
                                  

Ratio of earnings to fixed charges

      2.9      3.8      3.9      2.3      3.5

 

(a) Excludes equity costs related to AFUDC that are included in Other Income and Expenses in the Consolidated Statements of Operations.