Attached files
| file | filename |
|---|---|
| 10-Q - FORM 10-Q - PACIFIC GAS & ELECTRIC Co | q1form10q.htm |
| EX-10.02 - EXHIBIT 10.2 - PACIFIC GAS & ELECTRIC Co | ex1002.htm |
| EX-12.02 - EXHIBIT 12.2 - PACIFIC GAS & ELECTRIC Co | ex1202.htm |
| EX-32.01 - EXHIBIT 32.1 - PACIFIC GAS & ELECTRIC Co | ex3201.htm |
| EX-10.01 - EXHIBIT 10.1 - PACIFIC GAS & ELECTRIC Co | ex1001.htm |
| EX-32.02 - EXHIBIT 32.2 - PACIFIC GAS & ELECTRIC Co | ex3202.htm |
| EX-10.03 - EXHIBIT 10.3 - PACIFIC GAS & ELECTRIC Co | ex1003.htm |
| EX-31.02 - EXHIBIT 31.2 - PACIFIC GAS & ELECTRIC Co | ex3102.htm |
| EX-31.01 - EXHIBIT 31.1 - PACIFIC GAS & ELECTRIC Co | ex3101.htm |
| EX-12.01 - EXHIBIT 12.1 - PACIFIC GAS & ELECTRIC Co | ex1201.htm |
EXHIBIT
12.3
PG&E
CORPORATION
COMPUTATION
OF RATIOS OF EARNINGS TO FIXED CHARGES
|
Three
Months
Ended
March
31,
|
Year
Ended December 31,
|
|||||||||||||||||||||||
|
2010
|
2009
|
2008
|
2007
|
2006
|
2005
|
|||||||||||||||||||
|
Earnings:
|
||||||||||||||||||||||||
|
Net
income
|
$ | 261 | $ | 1,234 | $ | 1,198 | $ | 1,020 | $ | 1,005 | $ | 920 | ||||||||||||
|
Income
taxes provision
|
185 | 460 | 425 | 539 | 554 | 544 | ||||||||||||||||||
|
Fixed
charges
|
207 | 877 | 907 | 937 | 845 | 639 | ||||||||||||||||||
|
Pre-tax
earnings required to cover
the
preferred stock dividend of consolidated subsidiaries
|
(4 | ) | (16 | ) | (16 | ) | (17 | ) | (15 | ) | (20 | ) | ||||||||||||
|
Total
Earnings
|
$ | 649 | $ | 2,555 | $ | 2,514 | $ | 2,479 | $ | 2,389 | $ | 2,083 | ||||||||||||
|
Fixed
Charges:
|
||||||||||||||||||||||||
|
Interest
and amortization of premiums, discounts and capitalized expenses related
to short-term borrowings and long-term debt, net
|
$ | 185 | $ | 798 | $ | 825 | $ | 865 | $ | 799 | $ | 603 | ||||||||||||
|
Interest
on capital leases
|
5 | 19 | 22 | 23 | 11 | 1 | ||||||||||||||||||
|
AFUDC
debt
|
13 | 44 | 44 | 32 | 20 | 15 | ||||||||||||||||||
|
Pre-tax
earnings required to cover the preferred stock dividend of consolidated
subsidiaries
|
4 | 16 | 16 | 17 | 15 | 20 | ||||||||||||||||||
|
Total
Fixed Charges
|
$ | 207 | $ | 877 | $ | 907 | $ | 937 | $ | 845 | $ | 639 | ||||||||||||
|
Ratios
of Earnings to
Fixed
Charges
|
3.14 | 2.91 | 2.77 | 2.65 | 2.83 | 3.26 | ||||||||||||||||||
|
Note: For
the purpose of computing PG&E Corporation's ratios of earnings to
fixed charges, “earnings” represent income from continuing operations
adjusted for income taxes, fixed charges (excluding capitalized interest),
and pre-tax earnings required to cover the preferred stock dividend of
consolidated subsidiaries. “Fixed charges” include interest on
long-term debt and short-term borrowings (including a representative
portion of rental expense), amortization of bond premium, discount and
expense, interest on capital leases, AFUDC debt, and earnings required to
cover preferred stock dividends of consolidated subsidiaries. Fixed
charges exclude interest on tax
liabilities.
|
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