PG&E Corp - FORM 10-Q - EX-12.03 - PG&E CORPORATION COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES - July 29, 2015

Attached files

file filename
EX-10.03 - FORM OF RESTRICTED STOCK UNIT AGREEMENT FOR 2015 GRANTS TO DIRECTORS UNDER THE PG&E CORPORATION 2014 LONG-TERM INCENTIVE PLAN - PG&E Corpexhibit1003.htm
EX-12.01 - PACIFIC GAS AND ELECTRIC COMPANY COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES - PG&E Corpexhibit1201.htm
EX-10.08 - PERFORMANCE SHARE AGREEMENT SUBJECT TO SAFETY AND CUSTOMER AFFORDABILITY GOALS BETWEEN JULIE M. KANE AND PG&E CORPORATION DATED MAY 29, 2015 FOR 2015 GRANT UNDER THE PG&E CORPORATION 2014 LONG-TERM INCENTIVE PLAN - PG&E Corpexhibit1008.htm
EX-10.05 - RESTRICTED STOCK UNIT AGREEMENT BETWEEN JULIE M. KANE AND PG&E CORPORATION DATED MAY 29, 2015 FOR 2015 GRANT UNDER THE PG&E CORPORATION 2014 LONG-TERM INCENTIVE PLAN - PG&E Corpexhibit1005.htm
EX-31.01 - CERTIFICATIONS OF THE CHIEF EXECUTIVE OFFICER AND THE CHIEF FINANCIAL OFFICER OF PG&E CORPORATION REQUIRED BY SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002 - PG&E Corpexhibit3101.htm
EX-32.02 - CERTIFICATIONS OF THE CHIEF EXECUTIVE OFFICER AND THE CHIEF FINANCIAL OFFICER OF PACIFIC GAS AND ELECTRIC COMPANY REQUIRED BY SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002 - PG&E Corpexhibit3202.htm
EX-10.04 - LETTER REGARDING COMPENSATION AGREEMENT BETWEEN PG&E CORPORATION AND JULIE M. KANE DATED MARCH 11, 2015 FOR EMPLOYMENT STARTING MAY 18, 2015 - PG&E Corpexhibit1004.htm
EX-10.07 - PERFORMANCE SHARE AGREEMENT SUBJECT TO FINANCIAL GOALS BETWEEN JULIE M. KANE AND PG&E CORPORATION DATED MAY 29, 2015 FOR 2015 GRANT UNDER THE PG&E CORPORATION 2014 LONG-TERM INCENTIVE PLAN - PG&E Corpexhibit1007.htm
10-Q - FORM 10-Q - PG&E Corpform10q.htm
XML - IDEA: XBRL DOCUMENT - PG&E CorpR9999.htm
EX-31.02 - CERTIFICATIONS OF THE CHIEF EXECUTIVE OFFICER AND THE CHIEF FINANCIAL OFFICER OF PACIFIC GAS AND ELECTRIC COMPANY REQUIRED BY SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002 - PG&E Corpexhibit3102.htm
EX-12.02 - PACIFIC GAS AND ELECTRIC COMPANY COMPUTATION OF RATIOS OF EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED STOCK DIVIDENDS - PG&E Corpexhibit1202.htm
EX-32.01 - CERTIFICATIONS OF THE CHIEF EXECUTIVE OFFICER AND THE CHIEF FINANCIAL OFFICER OF PG&E CORPORATION REQUIRED BY SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002 - PG&E Corpexhibit3201.htm
EX-10.06 - NON-ANNUAL RESTRICTED STOCK UNIT AGREEMENT BETWEEN JULIE M. KANE AND PG&E CORPORATION DATED MAY 29, 2015 - PG&E Corpexhibit1006.htm

EXHIBIT 12.3

PG&E CORPORATION
COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES
 

 

 

Six Months Ended June 30,

 

Year Ended December 31,

(in millions)

 

2015

 

2014

 

2013

 

2012

 

2011

 

2010

Earnings:

 

 

 

 

 

 

 

 

 

 

 

 

Net income

$

440 

$

1,450 

$

828 

$

830 

$

858 

$

1,113 

Income tax provision

 

17 

 

345 

 

268 

 

237 

 

440 

 

547 

Fixed charges

 

538 

 

1,206 

 

1,012 

 

931 

 

919 

 

850 

Pre-tax earnings required to cover

 

 

 

 

 

 

 

 

 

 

 

 

cover the preferred stock

 

 

 

 

 

 

 

 

 

 

 

 

dividend of consolidated

 

 

 

 

 

 

 

 

 

 

 

 

subsidiaries

 

(7)

 

(15)

 

(16)

 

(15)

 

(17)

 

(16)

Total earnings

$

988 

$

2,986 

$

2,092 

$

1,983 

$

2,200 

$

2,494 

Fixed charges:

 

 

 

 

 

 

 

 

 

 

 

 

Interest on short-term

 

 

 

 

 

 

 

 

 

 

 

 

borrowings and long-term

 

 

 

 

 

 

 

 

 

 

 

 

debt, net

$

505 

$

1,140 

$

942 

$

859 

$

846 

$

766 

Interest on capital leases

 

2 

 

6 

 

7 

 

9 

 

16 

 

18 

AFUDC debt

 

24 

 

45 

 

47 

 

48 

 

40 

 

50 

Pre-tax earnings required to

 

 

 

 

 

 

 

 

 

 

 

 

cover the preferred stock

 

 

 

 

 

 

 

 

 

 

 

 

    dividend of consolidated

 

 

 

 

 

 

 

 

 

 

 

 

subsidiaries

 

7 

 

15 

 

16 

 

15 

 

17 

 

16 

Total fixed charges

$

538 

$

1,206 

$

1,012 

$

931 

$

919 

$

850 

Ratios of earnings to

 

 

 

 

 

 

 

 

 

 

 

 

fixed charges

 

1.84 

 

2.48 

 

2.07 

 

2.13 

 

2.39 

 

2.93 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Note:

For the purpose of computing PG&E Corporation's ratios of earnings to fixed charges, “earnings” represent income from continuing operations adjusted for income taxes, fixed charges (excluding capitalized interest), and pre-tax earnings required to cover the preferred stock dividend of consolidated subsidiaries.  “Fixed charges” include interest on long-term debt and short-term borrowings (including a representative portion of rental expense), amortization of bond premium, discount and expense, interest on capital leases, AFUDC debt, and earnings required to cover preferred stock dividends of consolidated subsidiaries.  Fixed charges exclude interest on tax liabilities.



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