Attached files
| file | filename |
|---|---|
| 10-K - PACIFICORP FORM 10-K 12-31-2009 - PACIFICORP /OR/ | pacificorp10k12312009.htm |
| EX-23.1 - CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM - PACIFICORP /OR/ | exhibit23-1.htm |
| EX-31.1 - SECTION 302 CEO CERTIFICATION - PACIFICORP /OR/ | exhibit31-1.htm |
| EX-31.2 - SECTION 302 CFO CERTIFICATION - PACIFICORP /OR/ | exhibit31-2.htm |
| EX-32.2 - SECTION 906 CFO CERTIFICATION - PACIFICORP /OR/ | exhibit32-2.htm |
| EX-12.1 - STATEMENTS OF COMPUTATION OF RATIO - PACIFICORP /OR/ | exhibit12-1.htm |
| EX-32.1 - SECTION 906 CEO CERTIFICATION - PACIFICORP /OR/ | exhibit32-1.htm |
| EX-10.1 - SUMMARY OF KEY TERMS OF COMPENSATION - PACIFICORP /OR/ | exhibit10-1.htm |
| EX-10.10 - AMENDMENT NO. 1 TO THE PACIFICORP EXECUTIVE VOLUNTARY DEFERRED COMPENSATION PLAN - PACIFICORP /OR/ | exhibit10-10.htm |
EXHIBIT
12.2
PACIFICORP
STATEMENTS
OF COMPUTATION OF RATIO
OF
EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED STOCK DIVIDENDS
(DOLLARS
IN MILLIONS)
|
Nine-Month
|
||||||||||||||||||||
|
Years
Ended December 31,
|
Period
Ended
|
Year
Ended
|
||||||||||||||||||
|
2009
|
2008
|
2007
|
December 31,
2006
|
March 31,
2006
|
||||||||||||||||
|
Earnings
Available for Fixed Charges:
|
||||||||||||||||||||
|
Income
from continuing operations before income tax expense
|
$ | 784 | $ | 703 | $ | 665 | $ | 253 | $ | 570 | ||||||||||
|
Add:
|
||||||||||||||||||||
|
Fixed
charges
|
398 | 349 | 322 | 221 | 290 | |||||||||||||||
|
Deduct:
|
||||||||||||||||||||
|
Net
income attributable to noncontrolling interest in subsidiary that has not
incurred fixed charges
|
(8 | ) | (7 | ) | (6 | ) | (6 | ) | (10 | ) | ||||||||||
|
Total
earnings available for fixed charges
|
$ | 1,174 | $ | 1,045 | $ | 981 | $ | 468 | $ | 850 | ||||||||||
|
Fixed
Charges and Preferred Stock Dividends(1):
|
||||||||||||||||||||
|
Interest
expense
|
$ | 394 | $ | 343 | $ | 314 | $ | 215 | $ | 280 | ||||||||||
|
Estimated
interest portion of rentals charged to expense
|
4 | 6 | 8 | 6 | 10 | |||||||||||||||
|
Total
fixed charges
|
$ | 398 | $ | 349 | $ | 322 | $ | 221 | $ | 290 | ||||||||||
|
Preferred
stock dividends
|
3 | 3 | 3 | 2 | 3 | |||||||||||||||
|
Total
fixed charges and preferred stock dividends
|
$ | 401 | $ | 352 | $ | 325 | $ | 223 | $ | 293 | ||||||||||
|
Ratio
of Earnings to Combined Fixed Charges and Preferred Stock
Dividends
|
2.9 | x | 3.0 | x | 3.0 | x | 2.1 | x | 2.9 | x | ||||||||||
|
(1)
|
Fixed
charges represent consolidated interest charges and an estimated amount
representing the interest factor in rents. Excluded from the fixed charges
is interest on income tax contingencies that is included in income tax
expense on the Consolidated Statements of Operations. Preferred stock
dividends represent the amount of income before income tax expense that is
required to pay the preferred stock
dividends.
|
The above
presentation reflects the adoption of authoritative guidance for consolidations,
which establishes accounting and reporting standards for the noncontrolling
interest in a subsidiary. The adoption of this guidance was retrospective and
had no impact on the ratio of earnings to combined fixed charges and preferred
stock dividends in any of the periods presented.