POTOMAC ELECTRIC POWER CO - FORM 8-K - EX-12.1 - EXHIBIT 12.1 - May 22, 2017

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EX-5.1 - EXHIBIT 5.1 - POTOMAC ELECTRIC POWER COexhibit51opinion.htm
EX-4.2 - EXHIBIT 4.2 - POTOMAC ELECTRIC POWER COexhibit42pepcosupplemental.htm
EX-1.1 - EXHIBIT 1.1 - POTOMAC ELECTRIC POWER COexhibit11pepcounderwriting.htm
8-K - 8-K - POTOMAC ELECTRIC POWER COexc201705228k.htm
Exhibit 12.1

 
 
 
 
 
 
 
 
 
 
 
 
Potomac Electric Power Company
Ratio of Earnings to Fixed Charges
 
 
 
 
 
 
 
 
 
 
 
 
 
Three Months Ended
March 31, 2017
 
Year Ended December 31,
 
 
2016
 
2015
 
2014
 
2013
 
2012
 
 
 
 
 
 
 
 
 
 
 
 
Pre-tax income from continuing operations
58

 
83

 
289

 
264

 
235

 
193

Plus: Loss from equity investees
—

 
—

 
—

 
—

 
—

 
—

Less: Capitalized interest
(3
)
 
(10
)
 
(1
)
 
(2
)
 
(1
)
 
(2
)
Pre-tax income from continuing operations after adjustment for income or loss from equity investees and capitalized interest
55

 
73

 
288

 
262

 
234

 
191

 
 
 
 
 
 
 
 
 
 
 
 
Fixed Charges:
 
 
 
 
 
 
 
 
 
 
 
Interest expensed and capitalized, amortization of debt discount and premium on all indebtedness
32

 
137

 
130

 
121

 
114

 
106

Interest component of rental expense (a)
2

 
3

 
7

 
7

 
7

 
7

Total fixed charges
34

 
140

 
137

 
128

 
121

 
113

 
 
 
 
 
 
 
 
 
 
 
 
Pre-tax income from continuing operations after adjustment for income or loss from equity investees and capitalized interest plus fixed charges
89

 
213

 
425

 
390

 
355

 
304

Ratio of earnings to combined fixed charges
2.6

 
1.5

 
3.1

 
3.0

 
2.9

 
2.7

 
 
 
 
 
 
 
 
 
 
 
 
(a) Represents one-third of rental expense relating to operating leases, which is a reasonable approximation of the interest factor.