SCEG OATT Formula Transmission Rate Filing.pdf - SCANA ...

20091231-0037 FERC PDF (Unofficia1) 12/29/2009
Exhibit No. SCE-5(C)
Corporates
Financial Summary - South Carolina Electric & Gas CO.
(S Mil., Fiscal Years Ended Dec.)
LTM Ended
3/09 200S 2007 2006 2005 2004
Fundamental Ratios
FFO/lnterest Expense (xl 2.3 3.4 4.S 5.1 4.9 4.3
CFO/lnterest Expense (xl 3.3 3.5 4.5 4.2 3.8 4.6
Debt/FFO (xl 14.3 8.0 4.3 3.9 4.1 4.9
Operating EBIT !Interest Expense (xl 3.2 3.3 3.2 3.2 2.1 3.2
Operating EBITDAllnterest Expense (x) 4.7 4.8 5.0 5.1 5.3 4.7
Debt/Operating EBITOA (xl 4.1 3.9 3.2 3.2 3.0 3.4
Common Dividend Payout (%) 77.3 61.7 60.1
Internal Cash/CAPEX (%) 31.3 36.0 64.8 76.3 76.4 79.3
(APEX/Depreciation (%) 290.9 278.9 222.1 143.0 71.0 198.6
Profitability
Adjusted Revenues 2,780 2,816 2,481 2,391 2,421 2,089
Net Revenues 1,484 1,485 1,399 1,353 1,349 1,258
Operating and Maintenance Expense 501 506 478 461 441 431
Operating EBITDA 827 824 774 754 777 696
Depreciation and Amortization Exp. 265 265 276 286 465 221
Operating EBIT 562 559 498 468 312 475
Gross Interest Expense 176 170 154 148 147 148
Net Income for Common 269 266 238 227 251 225
Oper. Maint. Exp. % of Net Revenues ll.8 34.1 34.2 34.1 32.7 34.3
Operating EBIT % of Net Revenues 37.9 37.6 35.6 34.6 23.1 37.8
Cash Flow
Cash Flow from Operations 413 430 540 474 410 535
Change in Working Capital 178 25 (49) (140) (169) 52
Funds from Operations 235 405 589 614 579 483
Dividends (172) (164) (143) (162) (158) (187)
Capital Expenditures (771) (739) (613) (409) (llO) (439)
Free Cash Row (530) (473) (216) (97) (78) (91 )
Net Other Investment Cash Flow (3) (20) 19 (22) (18) (19)
Net Change in Debt 614 556 140 115 39
Net Change in Equity 106 15 75 9 94 38
Capital Structure
Short-Term Debt 92 34 464 362 303 153
Long-Term Debt 3,271 3,200 2,043 2,049 2,066 2,206
Total Debt 3,363 3,234 2,507 2,411 2,369 2,359
Total Hybrid Equity and Minority Interest 96 182 176 174 170 170
Common Equity 2,824 2,704 2,622 2,457 2,362 2,164
Total Capital 6,283 6,120 5,305 5,042 4,901 4,693
Total Debt/Total Capital (%) 53.5 52.8 47.3 47.8 48.3 50.3
Total Hybrid Equity and Minority Interest/Total Capital (X) 1.5 3.0 3.3 3.5 3.5 3.6
Common Equity/Total Capital (%) 44.9 44.2 49.4 48.7 48.2 46.1
Common Dividends PYd
Note: Numbers may not add due to rounding. LTM - Latest 12 months. Operating EBIT - Operating income before total reported state and federal income tax expense.
Operating EBITDA- Operating income before total reported state and federal income tax expense plus depreciation and amortization expense.
Source: Company reports/Fitch Ratings.
South Carolina Electric 8: Gas Company August 3, 2009 3