EDISON INTERNATIONAL - FORM 8-K - EX-12 - EXHIBIT 12 STATEMENT RE COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES - March 13, 2018

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EX-5.1 - EXHIBIT 5.1 OPINION OF BARBARA E. MATHEWS, DATED MARCH 13, 2018 - EDISON INTERNATIONALeixex51.htm
EX-4.1 - EXHIBIT 4.1 FIFTH SUPPLEMENTAL INDENTURE DATED MARCH 13, 2018 - EDISON INTERNATIONALeixex41.htm
EX-1 - EXHIBIT 1 UNDERWRITING AGREEMENT DATED AS OF MARCH 8, 2018 - EDISON INTERNATIONALeixex1.htm
8-K - 8-K EIX $550,000,000 4.125% SENIOR NOTES DUE 2028 - EDISON INTERNATIONALeixform8-kseniornotesfinan.htm
Exhibit 12

EDISON INTERNATIONAL
 
 
 
 
 
 
 
 
 
RATIOS OF EARNINGS TO FIXED CHARGES
 
 
 
 
 
 
 
 
 
(Millions of Dollars)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Earnings:
 
 
2013
 
2014
 
2015
 
2016
 
2017
 
 
 
 
 
 
 
 
 
 
 
 
Income from continuing operations
 
 
 
 
 
 
 
 
 
 
 
before tax and noncontrolling interest
$
1,221

 
$
1,979

 
$
1,568

 
$
1,590

 
$
949

Less: Income from equity investees
 
—

 
—

 
—

 
—

 
(1
)
Income from continuing operations before income
 
 
 
 
 
 
 
 
 
 
from equity investees, tax and noncontrolling interest
1,221

 
1,979

 
$
1,568

 
$
1,590

 
$
950

Add:
 
 
 
 
 
 
 
 
 
 
 
Fixed charges (see below)
 
601

 
608

 
606

 
$
621

 
$
680

Amortization of capitalized interest
 
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
 
(6
)
 
(2
)
 
(1
)
 
(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

 
21

 
 
 
 
 
 
 
 
 
 
 
 
Earnings as adjusted
 
$
1,819

 
$
2,589

 
$
2,189

 
$
2,219

 
$
1,650

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Fixed Charges:
 
 
 
 
 
 
 
 
 
 
 
Interest expenses - net of capitalized interest and AFUDC
$
544

 
$
560

 
$
555

 
$
581

 
$
639

Add: AFUDC
 
 
31

 
25

 
31

 
23

 
28

Interest expenses - net of capitalized interest
575

 
585

 
$
586

 
$
604

 
$
667

Interest capitalized (1)
 
6

 
2

 
1

 
1

 
1

Interest portion of rental expense (2)
20

 
21

 
19

 
16

 
12

 
 
 
 
 
 
 
 
 
 
 
 
Total fixed charges
 
$
601

 
$
608

 
$
606

 
$
621

 
$
680

 
 
 
 
 
 
 
 
 
 
 
 
Ratio (3)
 
 
3.03

 
4.26

 
3.61

 
3.57

 
2.43

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(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.




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