SOUTHERN CALIFORNIA EDISON Co - FORM 8-K - EX-12.1 - COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES - March 9, 2011

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8-K - SCE FORM 8-K ON SERIES D PREFERENCE STOCK - SOUTHERN CALIFORNIA EDISON Coform8k031011.htm
EX-1 - UNDERWRITING AGREEMENT DATED MARCH 7, 2011 - SOUTHERN CALIFORNIA EDISON Coexhibit1.htm
EX-4 - SOUTHERN CALIFORNIA EDISON COMPANY CERTIFICATE OF DETERMINATION OF PREFERENCE OF THE SERIES D PREFERENCE STOCK DATED MARCH 7, 2011 - SOUTHERN CALIFORNIA EDISON Coexhibit4.htm
EX-5 - OPINION OF COUNSEL - SOUTHERN CALIFORNIA EDISON Coexhibit5.htm
EX-12.2 - COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES AND PREFERRED AND PREFERENCE STOCK - SOUTHERN CALIFORNIA EDISON Coexhibit12-2.htm
Exhibit 12.1
 
 
 
SOUTHERN CALIFORNIA EDISON
                    
RATIOS OF EARNINGS TO FIXED CHARGES
      
(Millions of Dollars)
                        
                                 
                                 
                                 
                                 
Earnings:
          
 2006
  
 2007
  
 2008
  
 2009
  
 2010
  
                                 
Income from continuing operations
                      
 
before tax and noncontrolling interest
    1,540
  
    1,400
  
    1,246
  
    1,620
  
       1,532
  
Less: Income from equity investees
  
            -
  
            -
  
            -
  
            -
  
              -
  
Income from continuing operations before income
            
 
from equity investees, tax and noncontrolling interest
    1,540
  
    1,400
  
    1,246
  
    1,620
  
       1,532
  
Add:
                              
Fixed charges (see below)
    
       425
  
       466
  
       445
  
       462
  
          492
  
Amortization of capitalized interest
  
           1
  
           2
  
           2
  
           2
  
              2
  
Distributed income of equity investees
  
            -
  
            -
  
            -
  
            -
  
              -
  
Loss of equity investees for which charges arising from
          
 
guarantees are included in fixed charges
            -
  
            -
  
            -
  
            -
  
              -
  
Subtract:
                              
Interest capitalized
      
          (2)
  
          (3)
  
          (3)
  
          (4)
  
            (7)
  
Preference security dividend requirements of
              
 
consolidated subsidiaries - pre-tax basis
            -
  
            -
  
            -
  
            -
  
              -
  
Noncontrolling interest of subsidiaries that have not incurred
        
 
fixed charges - pre-tax basis
    
      (275)
  
      (305)
  
      (170)
  
        (94)
  
              -
  
                                 
Earnings as adjusted
      
    1,689
  
    1,560
  
    1,520
  
    1,986
  
       2,019
  
                                 
                                 
                                 
Fixed Charges (1):
                          
Interest expenses - net of capitalized interest and AFUDC
       399
  
       429
  
       407
  
       420
  
          429
  
Add: AFUDC
        
         19
  
         25
  
         27
  
         32
  
            43
  
Interest expenses - net of capitalized interest
       418
  
       454
  
       434
  
       452
  
          472
  
Interest capitalized (2)
      
           3
  
           3
  
           3
  
           4
  
              7
  
Interest portion of rental expense (3)
  
           2
  
           8
  
           7
  
           5
  
            12
  
Allocable portion of interest on long-term contracts
            
 
for purchased power (4)
    
           2
  
           1
  
           1
  
           1
  
              1
  
Preferred and preference stock dividend
                    
 
requirement - pre-tax basis
    
            -
  
            -
  
            -
  
            -
  
              -
  
                                 
Total fixed charges
      
       425
  
       466
  
       445
  
       462
  
          492
  
                                 
Ratio
          
      3.97
  
      3.35
  
      3.42
  
      4.30
  
         4.10
  
                                 
                                 
(1)
Interest expenses associated with income taxes are reflected as a component of income tax expense
 
and are excluded from the determination of fixed charges.
      
(2)
Includes fixed charges associated with Nuclear Fuel and capitalized interest of fifty-percent owned
 
partnership.  The amount for 2006 is restated.
            
(3)
Rentals include the interest factor relating to certain significant rentals plus one-third of all remaining annual rentals,
 
except for amounts allocated to power purchase contracts that are classified as operating leases.
(4)
Allocable portion of interest included in annual minimum debt service requirement of supplier.
                                 
                                 
                                 
                                 
                                 
                                 
                                 
                                 


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