Attached files
| file | filename |
|---|---|
| 8-K - FORM 8-K RE FMB 2014A - SOUTHERN CALIFORNIA EDISON Co | sceform8-kre300mseries2014a.htm |
| EX-1 - UNDERWRITING AGREEMENT DATED AS OF 1/22/2014 - SOUTHERN CALIFORNIA EDISON Co | fmb2014a-exh1.htm |
| EX-4.1 - ONE HUNDRED THIRTY-FIRST SUPPLEMENTAL INDENTURE DATED AS OF 1/22/2014 - SOUTHERN CALIFORNIA EDISON Co | fmb2014a-exh41.htm |
| EX-5 - OPINION OF COUNSEL - SOUTHERN CALIFORNIA EDISON Co | fmb2014a-exh5.htm |
| EX-4.2 - CERTIFICATE AS TO ACTIONS TAKEN BY OFFICER OF SCE DATED AS OF 1/22/2014 - SOUTHERN CALIFORNIA EDISON Co | fmb2014a-exh42.htm |
Exhibit 12
SOUTHERN CALIFORNIA EDISON COMPANY | ||||||||||||||||||||||
RATIOS OF EARNINGS TO FIXED CHARGES | ||||||||||||||||||||||
(Millions of Dollars) | ||||||||||||||||||||||
9 Months | 9 Months | 12 Months | ||||||||||||||||||||
Ended | Ended | Ended | ||||||||||||||||||||
Earnings: | 2008 | 2009 | 2010 | 2011 | 2012 | Sept. 30, 2012 | Sept. 30, 2013 | Sept. 30, 2013 | ||||||||||||||
Income from continuing operations | ||||||||||||||||||||||
before tax and noncontrolling interest | $ 1,246 | $ 1,620 | $ 1,532 | $ 1,745 | $ 1,874 | $ 1,186 | $ 914 | $ 1,602 | ||||||||||||||
Less: Income from equity investees | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | ||||||||||||||
Income from continuing operations before income | ||||||||||||||||||||||
from equity investees, tax and noncontrolling interest | 1,246 | 1,620 | 1,532 | 1,745 | 1,874 | 1,186 | 914 | 1,602 | ||||||||||||||
Add: | ||||||||||||||||||||||
Fixed charges (see below) | 445 | 462 | 492 | 523 | 564 | 420 | 427 | 571 | ||||||||||||||
Amortization of capitalized interest | 2 | 2 | 2 | 4 | 2 | 2 | 2 | 2 | ||||||||||||||
Distributed income of equity investees | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | ||||||||||||||
Loss of equity investees for which charges arising from | ||||||||||||||||||||||
guarantees are included in fixed charges | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | ||||||||||||||
Subtract: | ||||||||||||||||||||||
Interest capitalized | (3) | (4) | (7) | (4) | (8) | (6) | (4) | (6) | ||||||||||||||
Preference security dividend requirements of | ||||||||||||||||||||||
consolidated subsidiaries - pre-tax basis | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | ||||||||||||||
Noncontrolling interest of subsidiaries that have not incurred | ||||||||||||||||||||||
fixed charges - pre-tax basis | (170) | (94) | 0 | 0 | 0 | 0 | 0 | 0 | ||||||||||||||
Earnings as adjusted | $ 1,520 | $ 1,986 | $ 2,019 | $ 2,268 | $ 2,432 | $ 1,602 | $ 1,339 | $ 2,169 | ||||||||||||||
Fixed Charges (1): | ||||||||||||||||||||||
Interest expenses - net of capitalized interest and AFUDC | $ 407 | $ 420 | $ 429 | $ 463 | $ 499 | $ 373 | $ 384 | $ 510 | ||||||||||||||
Add: AFUDC | 27 | 32 | 43 | 42 | 40 | 29 | 24 | 35 | ||||||||||||||
Interest expenses - net of capitalized interest | 434 | 452 | 472 | 505 | 539 | 402 | 408 | 545 | ||||||||||||||
Interest capitalized (2) | 3 | 4 | 7 | 4 | 8 | 6 | 4 | 6 | ||||||||||||||
Interest portion of rental expense (3) | 8 | 6 | 13 | 14 | 17 | 12 | 15 | 20 | ||||||||||||||
Allocable portion of interest on long-term contracts | 0 | 0 | ||||||||||||||||||||
for purchased power (4) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | ||||||||||||||
Preferred and preference stock dividend | 0 | 0 | ||||||||||||||||||||
requirement - pre-tax basis | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | ||||||||||||||
Total fixed charges | $ 445 | $ 462 | $ 492 | $ 523 | $ 564 | $ 420 | $ 427 | $ 571 | ||||||||||||||
Ratio | 3.42 | 4.30 | 4.10 | 4.34 | 4.31 | 3.81 | 3.13 | 3.80 | ||||||||||||||
(1) | Interest expenses associated with income taxes are reflected as a component of income tax expense | |||||||||||||||||||||
and are excluded from the determination of fixed charges. | ||||||||||||||||||||||
(2) | Includes fixed charges associated with Nuclear Fuel and capitalized interest | |||||||||||||||||||||
(3) | 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. | ||||||||||||||||||||||