PG&E Corp - FORM 10-Q - EX-12.03 - PG&E CORPORATION COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES - October 28, 2015

Attached files

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EX-12.02 - PACIFIC GAS AND ELECTRIC COMPANY COMPUTATION OF RATIOS OF EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED STOCK DIVIDENDS - PG&E Corpexhibit1202.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 Corpexhibit3101.htm
EX-10.01 - AMENDED AND RESTATED PG&E CORPORATION DIRECTOR GRANTOR TRUST AGREEMENT DATED OCTOBER 1, 2015 - PG&E Corpexhibit1001.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 Corpexhibit3202.htm
EX-10.03 - PG&E CORPORATION 2005 SUPPLEMENTAL RETIREMENT SAVINGS PLAN AS AMENDED EFFECTIVE SEPTEMBER 15, 2015 - PG&E Corpexhibit1003.htm
EX-10.02 - AMENDED AND RESTATED PG&E CORPORATION OFFICER GRANTOR TRUST AGREEMENT DATED OCTOBER 1, 2015 - PG&E Corpexhibit1002.htm
EX-12.01 - PACIFIC GAS AND ELECTRIC COMPANY COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES - PG&E Corpexhibit1201.htm
EX-31.02 - CERTIFICATIONS OF THE CHIEF EXECUTIVE OFFICER AND THE CHIEF FINANCIAL OFFICER OF PACIFIC GAS AND ELECTRIC COMPANY REQUIRED BY SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002 - PG&E Corpexhibit3102.htm
10-Q - FORM 10-Q - PG&E Corpform10q.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 Corpexhibit3201.htm
EXHIBIT 12.3
PG&E CORPORATION
COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES

   
Nine
                      
   
Months Ended
                      
   
September 30,
    
Year Ended December 31,
  
(in millions)
  
2015
    
2014
    
2013
    
2012
    
2011
    
2010
  
Earnings:
                        
Net income
  
$
750
    
$
1,450
    
$
828
    
$
830
    
$
858
    
$
1,113
  
Income tax provision
    
84
      
345
      
268
      
237
      
440
      
547
  
Fixed charges
    
942
      
1,206
      
1,012
      
931
      
919
      
850
  
Pre-tax earnings required to cover
                                                
cover the preferred stock
                                                
dividend of consolidated
                                                
subsidiaries
    
(11
)
    
(15
)
    
(16
)
    
(15
)
    
(17
)
    
(16
)
Total earnings
  
$
1,765
    
$
2,986
    
$
2,092
    
$
1,983
    
$
2,200
    
$
2,494
  
Fixed charges:
                                                
Interest on short-term
                                                
borrowings and long-term
                                                
debt, net
  
$
892
    
$
1,140
    
$
942
    
$
859
    
$
846
    
$
766
  
Interest on capital leases
    
3
      
6
      
7
      
9
      
16
      
18
  
AFUDC debt
    
36
      
45
      
47
      
48
      
40
      
50
  
Pre-tax earnings required to
                                                
cover the preferred stock
                                                
    dividend of consolidated
                                                
subsidiaries
    
11
      
15
      
16
      
15
      
17
      
16
  
Total fixed charges
  
$
942
    
$
1,206
    
$
1,012
    
$
931
    
$
919
    
$
850
  
Ratios of earnings to
                                                
fixed charges
    
1.87
      
2.48
      
2.07
      
2.13
      
2.39
      
2.93
  
                                                 

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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