SOUTHERN CALIFORNIA EDISON Co - FORM 8-K - EX-12.1 - RATIOS OF EARNINGS TO FIXED CHARGES AND PREFERENCE EQUITY DIVIDENDS - June 26, 2017

Attached files

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EX-12.2 - RATIOS OF EARNINGS TO FIXED CHARGES - SOUTHERN CALIFORNIA EDISON Cosceexhibit122.htm
EX-8.1 - OPINION OF MUNGER, TOLLES & OLSON, LLP, DATED JUNE 26, 2017, TAX MATTERS - SOUTHERN CALIFORNIA EDISON Cosceexhibit81.htm
EX-5.3 - OPINION OF MUNGER, TOLLES & OLSON, LLP, DATED JUNE 26, 2017, VALIDITY OF GUARANT - SOUTHERN CALIFORNIA EDISON Cosceexhibit53.htm
EX-5.2 - OPINION OF BARBARA E. MATHEWS, DATED JUNE 26, 2017 - SOUTHERN CALIFORNIA EDISON Cosceexhibit52.htm
EX-5.1 - OPINION OF RICHARDS, LAYTON & FINGER, P.A., DATED JUNE 26, 2017 VALIDITY OF SECU - SOUTHERN CALIFORNIA EDISON Cosceexhibit51.htm
EX-4.3 - GUARANTEE AGREEMENT, DATED JUNE 26, 2017 - SOUTHERN CALIFORNIA EDISON Cosceexhibit43.htm
EX-4.2 - AMENDED AND RESTATED DECLARATION OF TRUST OF SCE TRUST VI, DATED JUNE 26, 2017 - SOUTHERN CALIFORNIA EDISON Cosceexhibit42.htm
EX-4.1 - CERTIFICATE OF DETERMINATION OF PREFERENCES OF THE COMPANYS SERIES L PREFERENCE - SOUTHERN CALIFORNIA EDISON Cosceexhibit41.htm
EX-1 - UNDERWRITING AGREEMENT JUNE 19, 2017 - SOUTHERN CALIFORNIA EDISON Cosceexhibit1.htm
8-K - FORM 8-K PREFERENCE SECURITIES - SOUTHERN CALIFORNIA EDISON Cosceform8-kcloseseriesltrus.htm
Exhibit 12.1

SOUTHERN CALIFORNIA EDISON COMPANY
 
 
RATIOS OF EARNINGS TO FIXED CHARGES AND PREFERRED AND PREFERENCE STOCK
 
 
 (in millions, except Ratio)
 
 
 
 
 
 
 
 
 
 
Three Months Ended in March 31,

Earnings:
 
 
 
 
2012
 
2013
 
2014
 
2015
 
2016
 
2017
Income from continuing operations
 
 
 
 
 
 
 
 
 
 
 
 
before tax and noncontrolling interest
$
1,874

 
$
1,279

 
$
2,039

 
$
1,618

 
$
1,755

 
$
392

Less: Income from equity investees
—

 
—

 
—

 
—

 
—

 
—

Income from continuing operations before income
 
 
 
 
 
 
 
 
 
 
 
 
from equity investees, tax and noncontrolling interest
1,874

 
1,279

 
2,039

 
1,618

 
1,755

 
392

Add:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Fixed charges (see below)
667

 
708

 
727

 
742

 
725

 
292

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
(103
)
 
(128
)
 
(146
)
 
(165
)
 
(144
)
 
(142
)
Noncontrolling interest of subsidiaries that have not incurred
 
 
 
 
 
 
 
 
 
 
 
fixed charges - pre-tax basis
—

 
—

 
—

 
—

 
—

 
—

Earnings as adjusted
 
 
 
$
2,432

 
$
1,856

 
$
2,619

 
$
2,194

 
$
2,335

 
$
542

 
 
 
 
 
 
—

 
—

 
—

 
 
 
 
 
 
Fixed Charges:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Interest expenses - net of capitalized interest and AFUDC
$
499

 
$
523

 
$
533

 
$
526

 
$
541

 
$
141

Add: AFUDC
 
 
 
 
40

 
31

 
25

 
31

 
23

 
6

Interest expenses - net of capitalized interest
539

 
554

 
558

 
557

 
564

 
147

Interest capitalized (1)
 
 
8

 
6

 
2

 
1

 
1

 
—

Interest portion of rental expense (2)
17

 
20

 
21

 
19

 
16

 
3

Preferred and preference stock dividend
 
 
 
 
 
 
 
 
 
 
 
 
 
requirement - pre-tax basis
103

 
128

 
146

 
165

 
144

 
142

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total fixed charges
 
 
 
$
667

 
$
708

 
$
727

 
$
742

 
$
725

 
$
292

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Ratio
 
 
 
 
3.65

 
2.62

 
3.60

 
2.96

 
3.22

 
1.86

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(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.
 
 



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