SOUTHERN CALIFORNIA EDISON Co - FORM 8-K - EX-12.2 - RATIOS OF EARNINGS TO FIXED CHARGES - June 26, 2017

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EX-12.1 - RATIOS OF EARNINGS TO FIXED CHARGES AND PREFERENCE EQUITY DIVIDENDS - SOUTHERN CALIFORNIA EDISON Cosceexhibit121.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 12.2

SOUTHERN CALIFORNIA EDISON COMPANY
 
 
RATIOS OF EARNINGS TO FIXED CHARGES
 
 
 (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

 
150

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
—

 
—

 
—

 
—

 
—

 
—

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

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total fixed charges
 
 
 
564

 
580

 
581

 
577

 
581

 
150

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Ratio
 
 
 
 
4.31

 
3.20

 
4.51

 
3.80

 
4.02

 
3.61

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(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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