TECO ENERGY INC - FORM 10-Q - EX-12.1 - RATIO OF EARNINGS TO FIXED CHARGES TECO ENERGY, INC. - August 1, 2014

Attached files

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EX-31.2 - CERTIFICATION OF THE CHIEF FINANCIAL OFFICER OF TECO ENERGY, INC. - TECO ENERGY INCd726288dex312.htm
EX-12.2 - RATIO OF EARNINGS TO FIXED CHARGES TAMPA ELECTRIC COMPANY. - TECO ENERGY INCd726288dex122.htm
EX-95 - MINE SAFETY DISCLOSURE - TECO ENERGY INCd726288dex95.htm
EX-31.1 - CERTIFICATION OF THE CHIEF EXECUTIVE OFFICER OF TECO ENERGY, INC. - TECO ENERGY INCd726288dex311.htm
EX-31.3 - CERTIFICATION OF THE CHIEF EXECUTIVE OFFICER OF TAMPA ELECTRIC COMPANY - TECO ENERGY INCd726288dex313.htm
EX-32.1 - CERTIFICATION OF THE CHIEF EXECUTIVE OFFICER AND CHIEF FINANCIAL OFFICER OF TECO - TECO ENERGY INCd726288dex321.htm
EX-32.2 - CERTIFICATION OF THE CHIEF EXECUTIVE OFFICER AND CHIEF FINANCIAL OFFICER OF TAMP - TECO ENERGY INCd726288dex322.htm
EXCEL - IDEA: XBRL DOCUMENT - TECO ENERGY INCFinancial_Report.xls
10-Q - FORM 10-Q - TECO ENERGY INCd726288d10q.htm
EX-31.4 - CERTIFICATION OF THE CHIEF FINANCIAL OFFICER OF TAMPA ELECTRIC COMPANY - TECO ENERGY INCd726288dex314.htm

Exhibit 12.1

TECO ENERGY, INC.

RATIO OF EARNINGS TO FIXED CHARGES

The following table sets forth TECO Energy’s ratio of earnings to fixed charges for the periods indicated.

 

(millions)

    6-months
ended
June 30,
2014		      12-months
ended
June 30,
2014		      Year Ended Dec. 31,  
         2013      2012      2011      2010     2009  

Income from continuing operations, before income taxes

    $ 166.5       $ 329.0       $ 306.7       $ 383.8       $ 393.5       $ 321.2      $ 268.3   

Add:

                    

Interest expense

      88.8         175.8         176.1         189.6         202.4         221.5        223.4   

Deduct:

                    

Income from equity investments, net

      0.0         0.0         0.0         0.0         0.0         (2.8 )      (0.6 ) 
  

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

    

 

 

  

Earnings before taxes and fixed charges

    $ 255.3       $ 504.8       $ 482.8       $ 573.4       $ 595.9       $ 545.5      $ 492.3   
  

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

    

 

 

  

Interest expense

    $ 88.8       $ 175.8       $ 176.1       $ 189.6       $ 202.4       $ 221.5      $ 223.4   
  

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

    

 

 

  

Total fixed charges

    $ 88.8       $ 175.8       $ 176.1       $ 189.6       $ 202.4       $ 221.5      $ 223.4   
  

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

    

 

 

  

Ratio of earnings to fixed charges

      2.88x         2.87x         2.74x         3.02x         2.94x         2.46x        2.20x   
  

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

    

 

 

  

For the purposes of calculating these ratios, earnings consist of income from continuing operations before income taxes, income or loss from equity investments (net of distributions) and fixed charges. Fixed charges consist of interest expense on indebtedness, amortization of debt premium and an estimate of the interest component of rentals. Interest expense includes total interest expense, excluding AFUDC, and an estimate of the interest component of rentals. TECO Energy, Inc. does not have any preferred stock outstanding, and there were no preferred stock dividends paid or accrued during the periods presented.

The sale of TECO Guatemala was completed in December 2012 and is considered a discontinued operation. Prior periods presented have been adjusted to reflect the classification of TECO Guatemala as discontinued operations.

TECO ENERGY INC Reports