SOUTHERN CALIFORNIA EDISON Co - FORM 8-K - EX-12.2 - EXHIBIT 12.2 STATEMENT RE COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES - August 2, 2018

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EX-1 - EXHIBIT 1 UNDERWRITING AGREEMENT DATED AS OF JULY 30, 2018 - SOUTHERN CALIFORNIA EDISON Cosceex1.htm
EX-5 - EXHIBIT 5 OPINION OF COUNSEL (BEM) - SOUTHERN CALIFORNIA EDISON Cosce5.htm
EX-4.3 - EXHIBIT 4.3 CERTIFICATE OF ACTIONS TAKEN BY OFFICER OF SCE DATED JULY 30, 2018 - SOUTHERN CALIFORNIA EDISON Cosceex43.htm
EX-4.2 - EXHIBIT 4.2 138TH SUPPLEMENTAL INDENTURE DATED AS OF JULY 31, 2018 - SOUTHERN CALIFORNIA EDISON Cosceex42.htm
8-K - 8-K FMB SERIES 2018E AND 2018C REOPENER - SOUTHERN CALIFORNIA EDISON Cosce8-kfmbjuly2018.htm
EXHIBIT 12.2


SOUTHERN CALIFORNIA EDISON
RATIOS OF EARNINGS TO FIXED CHARGES (In millions, except Ratio)
 
 
 
Year Ended December 31,
 
Six months ended June 30,
Earnings:
 
 
2013
 
2014
 
2015
 
2016
 
2017
 
2018
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Income from continuing operations
 
 
 
 
 
 
 
 
 
 
 
 
 
before tax and noncontrolling interest
 
 
$
1,279

 
$
2,039

 
$
1,618

 
$
1,755

 
$
1,106

 
$
635

Less: Income from equity investees
 
 
—

 
—

 
—

 
—

 
—

 
—

Income from continuing operations before income from equity investees, tax and noncontrolling interest
 
 
1,279

 
2,039

 
1,618

 
1,755

 
1,106

 
635

Add:
 
 
 
 
 
 
 
 
 
 
 
 
 
Fixed charges (see below)
 
 
580

 
581

 
577

 
581

 
630

 
346

Amortization of capitalized interest (3)
 
 
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
)
 
(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
 
 
$
1,856

 
$
2,619

 
$
2,194

 
$
2,335

 
$
1,735

 
$
980

 
 
 
 
 
 
 
 
 
 
 
 
 
 
Fixed Charges:
 
 
 
 
 
 
 
 
 
 
 
 
 
Interest expenses - net of capitalized interest and AFUDC
 
 
$
523

 
$
533

 
$
526

 
$
541

 
$
589

 
$
319

Add: AFUDC
 
 
31

 
25

 
31

 
23

 
28

 
21

Interest expenses - net of capitalized interest
 
 
554

 
558

 
557

 
564

 
617

 
340

Interest capitalized (1)
 
 
6

 
2

 
1

 
1

 
1

 
1

Interest portion of rental expense (2)
 
 
20

 
21

 
19

 
16

 
12

 
5

 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total fixed charges
 
 
$
580

 
$
581

 
$
577

 
$
581

 
$
630

 
$
346

 
 
 
 
 
 
 
 
 
 
 
 
 
 
Ratio
 
 
3.20

 
4.51

 
3.80

 
4.02

 
2.75

 
2.83


(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.
(3)    Based on guidance, no amortization of capitalized interest is required to be included in calculation of earnings for utility industry after 2015.


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