PG&E Corp - FORM 10-K - EX-12.01 - PACIFIC GAS AND ELECTRIC COMPANY COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHAR - February 9, 2018

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EX-21 - SUBSIDIARIES OF THE REGISTRANT - PG&E Corpexhibit21.htm
EX-32.02 - CERTIFICATIONS OF THE CHIEF EXECUTIVE OFFICER AND THE CHIEF FINANCIAL OFFICER OF - PG&E Corpexhibit3202.htm
EX-32.01 - CERTIFICATIONS OF THE CHIEF EXECUTIVE OFFICER AND THE CHIEF FINANCIAL OFFICER OF - PG&E Corpexhibit3201.htm
EX-31.02 - CERTIFICATIONS OF THE CHIEF EXECUTIVE OFFICER AND THE CHIEF FINANCIAL OFFICER OF - PG&E Corpexhibit3102.htm
EX-31.01 - CERTIFICATIONS OF THE CHIEF EXECUTIVE OFFICER AND THE CHIEF FINANCIAL OFFICER OF - PG&E Corpexhibit3101.htm
EX-24 - POWER OF ATTORNEY - PG&E Corpexhibit24.htm
EX-23.02 - PACIFIC GAS AND ELECTRIC COMPANY CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUN - PG&E Corpexhibit2302.htm
EX-23.01 - PG&E CORPORATION CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM - PG&E Corpexhibit2301.htm
EX-12.03 - PG&E CORPORATION COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES - PG&E Corpexhibit1203.htm
EX-12.02 - PACIFIC GAS AND ELECTRIC COMPANY COMPUTATION OF RATIOS OF EARNINGS TO COMBINED F - PG&E Corpexhibit1202.htm
EX-10.55 - PG&E CORPORATION 2014 LONG-TERM INCENTIVE PLAN - PG&E Corpexhibit1055.htm
EX-10.54 - PG&E CORPORATION 2014 LONG-TERM INCENTIVE PLAN - PG&E Corpexhibit1054.htm
10-K - FORM 10-K - PG&E Corpform10k.htm
EXHIBIT 12.01

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

                             
                             
   
Year Ended December 31,
(in millions)
  
2017
    
2016
    
2015
    
2014
    
2013
Earnings:
                            
Net income
  
$
1,691
    
$
1,402
    
$
862
    
$
1,433
    
$
866
Income tax provision (benefit)
    
427
      
70
      
(19
)
    
384
      
326
Fixed charges
    
1,572
      
1,417
      
1,260
      
1,176
      
971
Total earnings
  
$
3,690
    
$
2,889
    
$
2,103
    
$
2,993
    
$
2,163
Fixed charges:
                                      
Interest on short-term borrowings
                                      
  and long-term debt, net
  
$
1,532
    
$
1,363
    
$
1,208
    
$
1,125
    
$
917
Interest on capital leases
    
2
      
3
      
4
      
6
      
7
AFUDC debt
    
38
      
51
      
48
      
45
      
47
Total fixed charges
  
$
1,572
    
$
1,417
    
$
1,260
    
$
1,176
    
$
971
Ratios of earnings to fixed charges
    
2.35
      
2.04
      
1.67
      
2.55
      
2.23

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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