SOUTHERN CALIFORNIA EDISON Co - FORM 8-K - EX-12.2 - EXHIBIT 12.2 - March 8, 2016

Attached files

file filename
EX-5.1 - OPINION OF RICHARDS, LAYTON & FINGER, P.A., REGARDING VALIDITY OF THE TRUST PREF - SOUTHERN CALIFORNIA EDISON Cosceexhibit51.htm
EX-4.1 - CERTIFICATE OF DETERMINATION OF PREFERENCE OF THE COMPANY'S SERIES K PREFERENCE - SOUTHERN CALIFORNIA EDISON Cosceexhibit41.htm
EX-4.2 - AMENDED AND RESTATED DECLARATION OF TRUST OF SCE TRUST V - SOUTHERN CALIFORNIA EDISON Cosceexhibit42.htm
EX-8.1 - OPINION OF MUNGER, TOLLES & OLSON, LLP., DATED MARCH 8, 2016 - SOUTHERN CALIFORNIA EDISON Cosceexhibit81.htm
EX-4.3 - GUARANTEE AGREEMENT DATED MARCH 8, 2016 - SOUTHERN CALIFORNIA EDISON Cosceexhibit43.htm
EX-5.2 - OPINION OF BARBARA E. MATHEWS, DATED MARCH 8, 2016 - SOUTHERN CALIFORNIA EDISON Cosceexhibit52.htm
EX-5.3 - OPINION OF MUNGER, TOLLES & OLSON, LLP., RE: VALIDITY OF GUARANTEE - SOUTHERN CALIFORNIA EDISON Cosceexhibit53.htm
EX-1 - UNDERWRITING AGREEMENT AMONG THE COMPANY, THE TRUST AND THE UNDERWRITERS - SOUTHERN CALIFORNIA EDISON Cosceexhibit1.htm
8-K - FORM 8-K RE CLOSE SERIES K TRUST PREFERENCE STOCK OFFERING - SOUTHERN CALIFORNIA EDISON Cosceform8-kcloseseriesktrus.htm
EX-12.1 - EXHIBIT 12.1 - SOUTHERN CALIFORNIA EDISON Cosceexhibit12-1.htm
Exhibit 12.2

SOUTHERN CALIFORNIA EDISON COMPANY
RATIOS OF EARNINGS TO FIXED CHARGES
 (in millions, except Ratio)
 
 
 
 
 
 
 
 
 
Earnings:
 
 
 
 
2011
 
2012
 
2013
 
2014
 
2015
Income from continuing operations
 
 
 
 
 
 
 
 
 
 
before tax and noncontrolling interest
 $ 1,745

 
 $ 1,874

 
 $ 1,279

 
 $ 2,039

 
 $ 1,618

Less: Income from equity investees
0

 
0

 
0

 
0

 
0

Income from continuing operations before income
 
 
 
 
 
 
 
 
 
 
from equity investees, tax and noncontrolling interest
        1,745

 
        1,874

 
        1,279

 
        2,039

 
        1,618

Add:
 
 
 
 
 
 
 
 
 
 
 
 
 
Fixed charges (see below)
           613

 
           667

 
           708

 
           727

 
           742

Amortization of capitalized interest
4

 
2

 
3

 
1

 
0

Distributed income of equity investees
 
—

 
—

 
—

 
—

 
—

Loss of equity investees for which charges arising from
 
 
 
 
 
 
 
 
 
 
guarantees are included in fixed charges
—

 
—

 
—

 
—

 
—

Subtract:
 
 
 
 
 
 
 
 
 
 
 
 
 
Interest capitalized
(4
)
 
(8
)
 
(6
)
 
(2
)
 
(1
)
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
 
 
 
 $ 2,268

 
 $ 2,432

 
 $ 1,856

 
 $ 2,619

 
 $ 2,194

 
 
 
 
 
 
—

 
—

 
—

 
—

 
 
Fixed Charges:
 
 
 
 
 
 
 
 
 
 
 
 
 
Interest expenses - net of capitalized interest and AFUDC
 $ 463

 
 $ 499

 
 $ 523

 
 $ 533

 
 $ 526

Add: AFUDC
 
 
 
 
42

 
40

 
31

 
25

 
31

Interest expenses - net of capitalized interest
           505

 
           539

 
           554

 
           558

 
           557

Interest capitalized (1)
 
 
 
4

 
8

 
6

 
2

 
1

Interest portion of rental expense (2)
14

 
17

 
20

 
21

 
19

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total fixed charges
 
 
 
$
523

 
564

 
580

 
581

 
577

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Ratio
 
 
 
 
4.34

 
4.31

 
3.20

 
4.51

 
3.80

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(1) 
Includes fixed charges associated with Nuclear Fuel.
 
 
 
 
 
 
(2) 
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.



SOUTHERN CALIFORNIA EDISON Co Reports