Attached files
| file | filename |
|---|---|
| 8-K - FORM 8-K - COMMONWEALTH EDISON Co | d659136d8k.htm |
| EX-1.1 - UNDERWRITING AGREEMENT DATED JANUARY 6, 2014 - COMMONWEALTH EDISON Co | d659136dex11.htm |
| EX-4.1 - SUPPLEMENTAL INDENTURE DATED AS OF JANUARY 2, 2014 - COMMONWEALTH EDISON Co | d659136dex41.htm |
| EX-5.1 - OPINION DATED JANUARY 10, 2014 OF SIDLEY AUSTIN LLP - COMMONWEALTH EDISON Co | d659136dex51.htm |
Exhibit 12.1
Commonwealth Edison Company
Ratio of Earnings to Fixed Charges
| Twelve Months Ended December 31, |
Nine Months Ended September 30, |
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| 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | |||||||||||||||||||
| Pre-tax income from continuing operations |
$ | 329 | $ | 602 | $ | 693 | $ | 666 | $ | 618 | $ | 233 | ||||||||||||
| Plus: Loss from equity investees |
9 | — | — | — | — | — | ||||||||||||||||||
| Less: Capitalized interest |
3 | (3 | ) | (2 | ) | (4 | ) | (3 | ) | (3 | ) | |||||||||||||
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| Pre-tax income from continuing operations after adjustment for loss from equity investees and capitalized interest |
$ | 341 | $ | 599 | $ | 691 | $ | 662 | $ | 615 | $ | 230 | ||||||||||||
| Fixed Charges: |
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| Interest expensed and capitalized, amortization of debt discount and premium on all indebtedness(a) |
$ | 323 | $ | 301 | $ | 368 | $ | 330 | $ | 297 | $ | 499 | ||||||||||||
| Interest component of rental expense(b) |
8 | 7 | 6 | 6 | 6 | 4 | ||||||||||||||||||
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| Total fixed charges |
331 | 308 | 374 | 336 | 303 | 503 | ||||||||||||||||||
| Pre-tax income from continuing operations after adjustment for loss from equity investees and capitalized interest plus fixed charges |
$ | 672 | $ | 907 | $ | 1,065 | $ | 998 | $ | 918 | $ | 733 | ||||||||||||
| Ratio of earnings to fixed charges |
2.0 | 2.9 | 2.8 | 3.0 | 3.0 | 1.5 | ||||||||||||||||||
| a) | Includes interest expense of $291 million for the nine months ended September 30, 2013, related to the remeasurement of the like-kind exchange tax position. See Note 12—Income Taxes of the Exelon Form 10-Q for the quarter ended September 30, 2013, for additional information regarding the like-kind exchange tax position. |
| b) | Represents one-third of rental expense relating to operating leases, which is a reasonable approximation of the interest factor. |