PEPCO HOLDINGS LLC - FORM 10-Q - EX-99.1 - April 30, 2015

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EX-31.1 - EX-31.1 - PEPCO HOLDINGS LLCd885995dex311.htm
10-Q - FORM 10-Q - PEPCO HOLDINGS LLCd885995d10q.htm
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EX-31.6 - EX-31.6 - PEPCO HOLDINGS LLCd885995dex316.htm
EX-31.7 - EX-31.7 - PEPCO HOLDINGS LLCd885995dex317.htm
EX-31.8 - EX-31.8 - PEPCO HOLDINGS LLCd885995dex318.htm
EX-32.1 - EX-32.1 - PEPCO HOLDINGS LLCd885995dex321.htm
EX-32.2 - EX-32.2 - PEPCO HOLDINGS LLCd885995dex322.htm
EX-32.3 - EX-32.3 - PEPCO HOLDINGS LLCd885995dex323.htm
EX-32.4 - EX-32.4 - PEPCO HOLDINGS LLCd885995dex324.htm
EX-99.2 - EX-99.2 - PEPCO HOLDINGS LLCd885995dex992.htm
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10-Q - COURTESY COPY - PEPCO HOLDINGS LLCd885995d10q1.pdf
EXCEL - IDEA: XBRL DOCUMENT - PEPCO HOLDINGS LLCFinancial_Report.xls

Exhibit 99.1

PEPCO HOLDINGS, INC.

 

            For the Year Ended December 31,  
     Three Months
Ended
March 31,
2015		      2014      2013     2012     2011      2010  
     (millions of dollars)  

Earnings

                

Net income from continuing operations

    $ 53       $ 242      $ 110     $ 218      $ 222       $ 91  

Preferred stock dividend

      —           —          —         —         —           —    

(Income) or loss from equity investees

      —           —           (2 )      (1 )      3         1  

Minority interest loss

      —           —          —         —         —           —    

Income tax expense (benefit) related to continuing operations

      30         138        319       103       114         (14 ) 
  

 

 

     

 

 

     

 

 

    

 

 

    

 

 

     

 

 

  

Pre-tax income for common stock

   83      380      427     320     339      78   

Add: Fixed charges*

   76      300      301     286     275      312   

Add: Distributed income of equity investees

   —        —       —       —       —        —     

Subtract: Interest capitalized

   —        —       —       —       —        —     

Subtract: Pre-tax preferred stock dividend requirement

   —        —       —       —       —        —     
  

 

 

     

 

 

     

 

 

    

 

 

    

 

 

     

 

 

  

Earnings

 $ 159    $ 680   $ 728    $ 606    $ 614    $ 390   
  

 

 

     

 

 

     

 

 

    

 

 

    

 

 

     

 

 

  

*Fixed Charges

Interest on long-term debt

 $ 67    $ 264   $ 265   $ 249   $ 239    $ 269   

Interest capitalized

   —        —       —       —       —        —     

Other interest

   —        —       —       —       —        —     

Amortization of debt discount, premium, and expense

   3      12      14     16     14      21   

Interest component of rentals

   6      24      22     21     22      22   

Pre-tax preferred stock dividend requirement

   —        —       —       —       —        —     
  

 

 

     

 

 

     

 

 

    

 

 

    

 

 

     

 

 

  

Fixed charges

 $ 76    $ 300   $ 301   $ 286   $ 275    $ 312   
  

 

 

     

 

 

     

 

 

    

 

 

    

 

 

     

 

 

  

Ratio of earnings to fixed charges (a)

   2.09      2.27     2.42     2.12     2.23      1.25   
  

 

 

     

 

 

     

 

 

    

 

 

    

 

 

     

 

 

  

 

(a) Pepco Holdings, Inc. issued certain preferred equity securities during 2014 and 2015 that are excluded from equity since the securities contain conditions for redemption that are not solely within the control of PHI. The cumulative and unpaid dividends associated with the preferred equity securities, which were immaterial for the three months ended March 31, 2015 and for the year ended December 31, 2014, are included in fixed charges as a component of interest on long-term debt. Accordingly, the ratio of earnings to fixed charges is equal to the ratio of earnings to combined fixed charges and preferred stock dividends.

PEPCO HOLDINGS LLC Reports