PG&E Corp - FORM 10-Q - EX-12.03 - PG&E CORPORATION COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES - July 28, 2016

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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-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
10-Q - FORM 10Q - 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
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-12.01 - PACIFIC GAS AND ELECTRIC COMPANY COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES - PG&E Corpexhibit1201.htm
EX-10.02 - LETTER REGARDING COMPENSATION AGREEMENT BETWEEN PACIFIC GAS AND ELECTRIC COMPANY AND DAVID THOMASON DATED MAY 24, 2016 - PG&E Corpexhibit1002.htm
EX-10.01 - FORM OF RESTRICTED STOCK UNIT AGREEMENT FOR 2016 GRANTS TO NON-EMPLOYEE DIRECTORS UNDER THE PG&E CORPORATION 2014 LONG-TERM INCENTIVE PLAN - PG&E Corpexhibit1001.htm
EXHIBIT 12.3
PG&E CORPORATION
COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES

   
Six
                                
   
Months Ended
                                
   
June 30,
    
Year Ended December 31,
  
(in millions)
  
2016
    
2015
    
2014
    
2013
    
2012
    
2011
  
Earnings:
                                    
Net income
  
$
320
    
$
888
    
$
1,450
    
$
828
    
$
830
    
$
858
  
Income tax (benefit) provision
    
(175
)
    
(27
)
    
345
      
268
      
237
      
440
  
Fixed charges
    
653
      
1,284
      
1,206
      
1,012
      
931
      
919
  
Pre-tax earnings required to cover
                                                
cover the preferred stock
                                                
dividend of consolidated
                                                
subsidiaries
    
(7
)
    
(14
)
    
(15
)
    
(16
)
    
(15
)
    
(17
)
Total earnings
  
$
791
    
$
2,131
    
$
2,986
    
$
2,092
    
$
1,983
    
$
2,200
  
Fixed charges:
                                                
Interest on short-term
                                                
borrowings and long-term
                                                
debt, net
  
$
619
    
$
1,218
    
$
1,140
    
$
942
    
$
859
    
$
846
  
Interest on capital leases
    
2
      
4
      
6
      
7
      
9
      
16
  
AFUDC debt
    
25
      
48
      
45
      
47
      
48
      
40
  
Pre-tax earnings required to
                                                
cover the preferred stock
                                                
    dividend of consolidated
                                                
subsidiaries
    
7
      
14
      
15
      
16
      
15
      
17
  
Total fixed charges
  
$
653
    
$
1,284
    
$
1,206
    
$
1,012
    
$
931
    
$
919
  
Ratios of earnings to
                                                
fixed charges
    
1.21
      
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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