Attached files
| file | filename |
|---|---|
| 8-K - FORM 8-K RE FMB 2014B - SOUTHERN CALIFORNIA EDISON Co | sceform8-kre400mseries2014b.htm |
| EX-5 - OPINION OF COUNSEL - SOUTHERN CALIFORNIA EDISON Co | fmb2014bexh5.htm |
| EX-1 - UNDERWRITING AGREEMENT DATED AS OF MAY 6, 2014 - SOUTHERN CALIFORNIA EDISON Co | fmb2014bexh1.htm |
| EX-4.1 - ONE HUNDRED THIRTY-SECOND SUPPLEMENTAL INDENTURE DATED AS OF MAY 7, 2014 - SOUTHERN CALIFORNIA EDISON Co | fmb2014bexh41.htm |
| EX-4.2 - CERTIFICATE AS TO ACTIONS TAKEN BY OFFICER OF SCE, DATED AS OF MAY 6, 2014 - SOUTHERN CALIFORNIA EDISON Co | fmb2014bexh42.htm |
Exhibit 12
SOUTHERN CALIFORNIA EDISON COMPANY | |||||||||||||||||||||||||||||
RATIOS OF EARNINGS TO FIXED CHARGES | |||||||||||||||||||||||||||||
(Millions of Dollars) | |||||||||||||||||||||||||||||
March 31, | |||||||||||||||||||||||||||||
3 Months | 12 Months | ||||||||||||||||||||||||||||
Earnings: | 2010 | 2011 | 2012 | 2013 | 2013 | 2014 | 2014 | ||||||||||||||||||||||
Income from continuing operations | |||||||||||||||||||||||||||||
before tax and noncontrolling interest | $ | 1,532 | $ | 1,745 | $ | 1,874 | $ | 1,279 | $ | 395 | $ | 222 | a | $ | 1,106 | ||||||||||||||
Less: Income from equity investees | - | - | - | - | - | - | - | ||||||||||||||||||||||
Income from continuing operations before income | |||||||||||||||||||||||||||||
from equity investees, tax and noncontrolling interest | 1,532 | 1,745 | 1,874 | 1,279 | 395 | 222 | a | 1,106 | |||||||||||||||||||||
Add: | |||||||||||||||||||||||||||||
Fixed charges (see below) | 492 | 523 | 564 | 580 | 142 | 147 | * | 585 | |||||||||||||||||||||
Amortization of capitalized interest | 2 | 4 | 2 | 3 | 1 | 1 | 3 | ||||||||||||||||||||||
Distributed income of equity investees | - | - | - | - | - | - | |||||||||||||||||||||||
Loss of equity investees for which charges arising from | |||||||||||||||||||||||||||||
guarantees are included in fixed charges | - | - | - | - | - | - | |||||||||||||||||||||||
Subtract: | |||||||||||||||||||||||||||||
Interest capitalized | (7 | ) | (4 | ) | (8 | ) | (6 | ) | (1 | ) | (1 | ) | (6 | ) | |||||||||||||||
Preference security dividend requirements of | |||||||||||||||||||||||||||||
consolidated subsidiaries - pre-tax basis | - | - | - | - | - | - | |||||||||||||||||||||||
Noncontrolling interest of subsidiaries that have not incurred | |||||||||||||||||||||||||||||
fixed charges - pre-tax basis | - | - | - | - | - | - | |||||||||||||||||||||||
Earnings as adjusted | $ | 2,019 | $ | 2,268 | $ | 2,432 | $ | 1,856 | $ | 537 | $ | 369 | $ | 1,688 | |||||||||||||||
Fixed Charges (1): | |||||||||||||||||||||||||||||
Interest expenses - net of capitalized interest and AFUDC | $ | 429 | $ | 463 | $ | 499 | $ | 523 | $ | 126 | $ | 136 | $ | 533 | |||||||||||||||
Add: AFUDC | 43 | 42 | 40 | 31 | 10 | 5 | 26 | ||||||||||||||||||||||
Interest expenses - net of capitalized interest | 472 | 505 | 539 | 554 | 136 | 141 | 559 | ||||||||||||||||||||||
Interest capitalized (2) | 7 | 4 | 8 | 6 | 1 | 1 | 6 | ||||||||||||||||||||||
Interest portion of rental expense (3) | 13 | 14 | 17 | 20 | 5 | 5 | 20 | ||||||||||||||||||||||
Total fixed charges | $ | 492 | $ | 523 | $ | 564 | $ | 580 | $ | 142 | $ | 147 | $ | 585 | |||||||||||||||
Ratio | 4.10 | 4.34 | 4.31 | 3.20 | 3.78 | 2.51 | 2.88 | ||||||||||||||||||||||
(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 15.8% 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. | |||||||||||||||||||||||||||||