EX-12 3 duk-20180930x10qxexx12.htm COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
EXHIBIT 12
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES - DUKE ENERGY CORPORATION
The ratio of earnings to fixed charges is calculated using the Securities and Exchange Commission guidelines.

| Nine Months Ended September 30, |  | Years Ended December 31,
(in millions) | 2018 |  | 2017 |  | 2016 |  | 2015 |  | 2014 |  | 2013
Earnings as defined for fixed charges calculation |  |  |  |  |  |  |  |  |  |  |
Add: |  |  |  |  |  |  |  |  |  |  |
Pretax income from continuing operations(a) | $ | 2,603 |  |  | $ | 4,142 |  |  | $ | 3,668 |  |  | $ | 3,832 |  |  | $ | 3,636 |  |  | $ | 3,204 |
Fixed charges | 1,772 |  |  | 2,205 |  |  | 2,170 |  |  | 1,859 |  |  | 1,871 |  |  | 1,886 |
Distributed income of equity investees | 81 |  |  | 16 |  |  | 30 |  |  | 104 |  |  | 136 |  |  | 109 |
Deduct: |  |  |  |  |  |  |  |  |  |  |
Interest capitalized | 7 |  |  | 4 |  |  | 10 |  |  | 18 |  |  | 7 |  |  | 8 |
Total earnings | $ | 4,449 |  |  | $ | 6,359 |  |  | $ | 5,858 |  |  | $ | 5,777 |  |  | $ | 5,636 |  |  | $ | 5,191 |
Fixed charges: |  |  |  |  |  |  |  |  |  |  |
Interest on debt, including capitalized portions | $ | 1,695 |  |  | $ | 2,104 |  |  | $ | 2,066 |  |  | $ | 1,733 |  |  | $ | 1,733 |  |  | $ | 1,760 |
Estimate of interest within rental expense | 77 |  |  | 101 |  |  | 104 |  |  | 126 |  |  | 138 |  |  | 126 |
Total fixed charges | $ | 1,772 |  |  | $ | 2,205 |  |  | $ | 2,170 |  |  | $ | 1,859 |  |  | $ | 1,871 |  |  | $ | 1,886 |
Ratio of earnings to fixed charges | 2.5 |  |  | 2.9 |  |  | 2.7 |  |  | 3.1 |  |  | 3.0 |  |  | 2.8 |

(a) Excludes amounts attributable to noncontrolling interests and income or loss from equity investees.