Attached files
| file | filename |
|---|---|
| EX-5.1 - OPINION OF BARBARA E. MATHEWS, DATED 03/29/2017 - EDISON INTERNATIONAL | ex51.htm |
| EX-4.1 - THIRD SUPPLEMENTAL INDENTURE - EDISON INTERNATIONAL | ex41.htm |
| EX-1 - UNDERWRITING AGREEMENT - EDISON INTERNATIONAL | ex1.htm |
| 8-K - FORM 8-K EIX NOTES - EDISON INTERNATIONAL | eixform8-kseniornotesdue20.htm |
Exhibit 12
EDISON INTERNATIONAL | |||||||||||||||||||||
RATIOS OF EARNINGS TO FIXED CHARGES | |||||||||||||||||||||
(Millions of Dollars) | |||||||||||||||||||||
Earnings: | 2012 | 2013 | 2014 | 2015 | 2016 | ||||||||||||||||
Income from continuing operations | |||||||||||||||||||||
before tax and noncontrolling interest | $ | 1,861 | $ | 1,221 | $ | 1,979 | $ | 1,568 | $ | 1,590 | |||||||||||
Less: Income from equity investees | 1 | — | — | — | — | ||||||||||||||||
Income from continuing operations before income | |||||||||||||||||||||
from equity investees, tax and noncontrolling interest | 1,860 | 1,221 | 1,979 | $ | 1,568 | $ | 1,590 | ||||||||||||||
Add: | |||||||||||||||||||||
Fixed charges (see below) | 586 | 601 | 608 | 606 | $ | 621 | |||||||||||||||
Amortization of capitalized interest | 2 | 3 | 1 | — | — | ||||||||||||||||
Distributed income of equity investees | — | — | — | — | — | ||||||||||||||||
Loss of equity investees for which charges arising from | |||||||||||||||||||||
guarantees are included in fixed charges | — | — | — | — | — | ||||||||||||||||
Subtract: | |||||||||||||||||||||
Interest capitalized | (8 | ) | (6 | ) | (2 | ) | (1 | ) | (1 | ) | |||||||||||
Preference security dividend requirements of | |||||||||||||||||||||
consolidated subsidiaries - pre-tax basis | — | — | — | — | — | ||||||||||||||||
Noncontrolling interest of subsidiaries that have not incurred | |||||||||||||||||||||
fixed charges - pre-tax basis | — | — | 3 | 16 | 9 | ||||||||||||||||
Earnings as adjusted | $ | 2,440 | $ | 1,819 | $ | 2,589 | $ | 2,189 | $ | 2,219 | |||||||||||
Fixed Charges: | |||||||||||||||||||||
Interest expenses - net of capitalized interest and AFUDC | $ | 521 | $ | 544 | $ | 560 | $ | 555 | $ | 581 | |||||||||||
Add: AFUDC | 40 | 31 | 25 | 31 | 23 | ||||||||||||||||
Interest expenses - net of capitalized interest | 561 | 575 | 585 | $ | 586 | $ | 604 | ||||||||||||||
Interest capitalized (1) | 8 | 6 | 2 | 1 | 1 | ||||||||||||||||
Interest portion of rental expense (2) | 17 | 20 | 21 | 19 | 16 | ||||||||||||||||
Total fixed charges | $ | 586 | $ | 601 | $ | 608 | $ | 606 | $ | 621 | |||||||||||
Ratio (3) | 4.16 | 3.03 | 4.26 | 3.61 | 3.57 | ||||||||||||||||
(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. | |||||||||||||||||||||
(3) As a result of Edison Mission Energy's ("EME") bankruptcy filling, the operations of EME prior to December 17, 2012 and for all prior years, were reflected as discontinued operations in the consolidated financial statements. | |||||||||||||||||||||