PG&E Corp - FORM 10-Q - EX-12.01 - PACIFIC GAS AND ELECTRIC COMPANY COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES - October 28, 2014

Attached files

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EXCEL - IDEA: XBRL DOCUMENT - PG&E CorpFinancial_Report.xls
EX-10.01 - PRUETT SEPARATION AGREEMENT - PG&E Corpex10-1.htm
EX-10.02 - BOTTORFF SEPARATION AGREEMENT - PG&E Corpex1002.htm
EX-10.03 - MALNIGHT AGREEMENT - PG&E Corpex1003.htm
EX-31.02 - CERTIFICATIONS OF THE CHIEF EXECUTIVE OFFICER AND THE CHIEF FINANCIAL OFFICER OF PACIFIC GAS AND ELECTRIC COMPANYREQUIRED BY SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002 - PG&E Corpex3102.htm
EX-31.01 - CERTIFICATIONS OF THE CHIEF EXECUTIVE OFFICER AND THE CHIEF FINANCIAL OFFICER OF PG&E CORPORATION REQUIRED BY SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002 - PG&E Corpex3101.htm
EX-32.01 - CERTIFICATIONS OF THE CHIEF EXECUTIVE OFFICER AND THE CHIEF FINANCIAL OFFICER OF PG&E CORPORATION REQUIRED BY SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002 - PG&E Corpex3201.htm
EX-12.03 - PG&E CORPORATION COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES - PG&E Corpexhibit12_3.htm
EX-32.02 - CERTIFICATIONS OF THE CHIEF EXECUTIVE OFFICER AND THE CHIEF FINANCIAL OFFICER OF PACIFIC GAS AND ELECTRIC COMPANY REQUIRED BY SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002 - PG&E Corpex3202.htm
10-Q - FORM 10-Q - PG&E Corpform10-q.htm
EX-12.02 - PACIFIC GAS AND ELECTRIC COMPANY COMPUTATION OF RATIOS OF EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED STOCK DIVIDENDS - PG&E Corpexhibit12_2.htm

EXHIBIT 12.1
PACIFIC GAS AND ELECTRIC COMPANY
COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES

   
Nine Months Ended
September 30,
    
Year Ended December 31,
  
(in millions)
  
2014
    
2013
    
2012
    
2011
    
2010
    
2009
  
Earnings:
                                    
Net income
   $ 1,271     $ 866     $ 811     $ 845     $ 1,121     $ 1,250  
Income tax provision
     325       326       298       480       574       482  
Fixed charges
     856       971       891       880       799       817  
Total earnings
   $ 2,452     $ 2,163     $ 2,000     $ 2,205     $ 2,494     $ 2,549  
Fixed charges:
                                                
Interest on short-term borrowings
    and long-term debt, net
   $ 820     $ 917     $ 834     $ 824     $ 731     $ 754  
Interest on capital leases
     4       7       9       16       18       19  
AFUDC debt
     32       47       48       40       50       44  
Total fixed charges
   $ 856     $ 971     $ 891     $ 880     $ 799     $ 817  
Ratios of earnings to fixed charges
     2.86       2.23       2.24       2.51       3.12       3.12  

Note:
For the purpose of computing Pacific Gas and Electric Company’s ratios of earnings to fixed charges, “earnings” represent net income adjusted for the income or loss from equity investees of less than 100% owned affiliates, equity in undistributed income or losses of less than 50% owned affiliates, income taxes and fixed charges (excluding capitalized interest).  “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 the preferred stock dividend requirements.  Fixed charges exclude interest on tax liabilities.


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