PG&E Corp - FORM 10-K - EX-12.03 - PG&E CORPORATION COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES - February 18, 2016

Attached files

file filename
EX-21 - SUBSIDIARIES OF THE REGISTRANT - PG&E Corpexhibit21.htm
EX-10.38 - OFFICER RELOCATION GUIDE - PG&E Corpexhibit1038.htm
EX-10.42 - PG&E CORPORATION 2014 LONG-TERM INCENTIVE PLAN - PG&E Corpexhibit1042.htm
EX-10.16 - PG&E CORPORATION 2014 LONG-TERM INCENTIVE PLAN - PG&E Corpexhibit1016.htm
EX-10.17 - PG&E CORPORATION 2014 LONG-TERM INCENTIVE PLAN - PG&E Corpexhibit1017.htm
EX-10.18 - PG&E CORPORATION 2014 LONG-TERM INCENTIVE PLAN - PG&E Corpexhibit1018.htm
EX-12.01 - PACIFIC GAS AND ELECTRIC COMPANY COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES - PG&E Corpexhibit1201.htm
EX-24 - POWER OF ATTORNEY - PG&E Corpexhibit24.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
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-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
10-K - FORM 10-K - PG&E Corpform10k.htm
EX-23 - CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM - PG&E Corpexhibit23.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-12.02 - PACIFIC GAS AND ELECTRIC COMPANY COMPUTATION OF RATIOS OF EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED STOCK DIVIDENDS - PG&E Corpexhibit1202.htm
EXHIBIT 12.3
PG&E CORPORATION
COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES

   
Year Ended December 31,
  
   
2015
    
2014
    
2013
    
2012
    
2011
  
Earnings:
                    
Net income
  
$
888
    
$
1,450
    
$
828
    
$
830
    
$
858
  
Income tax provision
    
(27
)
    
345
      
268
      
237
      
440
  
Fixed charges
    
1,284
      
1,206
      
1,012
      
931
      
919
  
Pre-tax earnings required to cover the
                                        
preferred stock dividend of consolidated
                                        
subsidiaries
    
(14
)
    
(15
)
    
(16
)
    
(15
)
    
(17
)
Total earnings
  
$
2,131
    
$
2,986
    
$
2,092
    
$
1,983
    
$
2,200
  
Fixed charges:
                                        
Interest on short-term borrowings and
                                        
long-term debt, net
  
$
1,218
    
$
1,140
    
$
942
    
$
859
    
$
846
  
Interest on capital leases
    
4
      
6
      
7
      
9
      
16
  
AFUDC debt
    
48
      
45
      
47
      
48
      
40
  
Pre-tax earnings required to cover the
                                        
preferred stock dividend of consolidated
    
14
      
15
      
16
      
15
      
17
  
Total fixed charges
  
$
1,284
    
$
1,206
    
$
1,012
    
$
931
    
$
919
  
Ratios of earnings to fixed charges
    
1.66
      
2.48
      
2.07
      
2.13
      
2.39
  

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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