Attached files
| file | filename |
|---|---|
| 8-K - FORM 8-K RE: FMB 2013A - SOUTHERN CALIFORNIA EDISON Co | sceform8kfmb2013a.htm |
| EX-1 - UNDERWRITING AGREEMENT DATED AS OF MARCH 4, 2013 - SOUTHERN CALIFORNIA EDISON Co | scefmb2013aexhibit1.htm |
| EX-5 - OPINION OF COUNSEL - SOUTHERN CALIFORNIA EDISON Co | scefbm2013aexhibit5.htm |
| EX-4.1 - ONE HUNDRED TWENTY-NINTH SUPPLEMENTAL INDENTURE DATED AS OF MARCH 5, 2013 - SOUTHERN CALIFORNIA EDISON Co | scefmb2013aexhibit41.htm |
| EX-4.2 - CERTIFICATE AS TO ACTIONS TAKEN BY OFFICER OF SCE, DATED MARCH 4, 2013 - SOUTHERN CALIFORNIA EDISON Co | scefmb2013aexhibit42.htm |
Exhibit 12
SOUTHERN CALIFORNIA EDISON COMPANY | |||||||||||||||||||||||||
RATIOS OF EARNINGS TO FIXED CHARGES | |||||||||||||||||||||||||
(Millions of Dollars) | |||||||||||||||||||||||||
Earnings: | 2008 | 2009 | 2010 | 2011 | 2012 | ||||||||||||||||||||
Income from continuing operations | |||||||||||||||||||||||||
before tax and noncontrolling interest | $ | 1,246 | $ | 1,620 | $ | 1,532 | $ | 1,745 | $ | 1,874 | |||||||||||||||
Less: Income from equity investees | — | — | — | — | — | ||||||||||||||||||||
Income from continuing operations before income | |||||||||||||||||||||||||
from equity investees, tax and noncontrolling interest | 1,246 | 1,620 | 1,532 | 1,745 | 1,874 | ||||||||||||||||||||
Add: | |||||||||||||||||||||||||
Fixed charges (see below) | 445 | 462 | 492 | 523 | 564 | ||||||||||||||||||||
Amortization of capitalized interest | 2 | 2 | 2 | 4 | 2 | ||||||||||||||||||||
Distributed income of equity investees | — | — | — | — | — | ||||||||||||||||||||
Loss of equity investees for which charges arising from | |||||||||||||||||||||||||
guarantees are included in fixed charges | — | — | — | ||||||||||||||||||||||
Subtract: | |||||||||||||||||||||||||
Interest capitalized | (3 | ) | (4 | ) | (7 | ) | (4 | ) | (8 | ) | |||||||||||||||
Noncontrolling interest of subsidiaries that have not incurred | |||||||||||||||||||||||||
fixed charges - pre-tax basis | (170 | ) | (94 | ) | — | — | — | ||||||||||||||||||
Earnings as adjusted | $ | 1,520 | $ | 1,986 | $ | 2,019 | $ | 2,268 | $ | 2,432 | |||||||||||||||
Fixed Charges (1): | |||||||||||||||||||||||||
Interest expenses - net of capitalized interest and AFUDC | $ | 407 | $ | 420 | $ | 429 | $ | 463 | $ | 499 | |||||||||||||||
Add: AFUDC | 27 | 32 | 43 | 42 | 40 | ||||||||||||||||||||
Interest expenses - net of capitalized interest | 434 | 452 | 472 | 505 | 539 | ||||||||||||||||||||
Interest capitalized (2) | 3 | 4 | 7 | 4 | 8 | ||||||||||||||||||||
Interest portion of rental expense (3) | 8 | 6 | 13 | 14 | 17 | ||||||||||||||||||||
Total fixed charges | $ | 445 | $ | 462 | $ | 492 | $ | 523 | $ | 564 | |||||||||||||||
Ratio | 3.42 | 4.30 | 4.10 | 4.34 | 4.31 | ||||||||||||||||||||
(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. | ||||||||||||||||||||||||
(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. | ||||||||||||||||||||||||