EX-12.2 5 pacificorp123115ex122.htm PAC COMPUTATION OF RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED Exhibit


EXHIBIT 12.2
PACIFICORP
STATEMENTS OF COMPUTATION OF RATIO
OF EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED STOCK DIVIDENDS
(DOLLARS IN MILLIONS)

 
 
 
 
 
 
 
 
 
 
 
 
 
Years Ended December 31,
 
 
2015
 
2014
 
2013
 
2012
 
2011
Earnings Available for Fixed Charges:
 
 
 
 
 
 
 
 
 
 
Income from continuing operations
 
 
 
 
 
 
 
 
 
 
before income tax expense
 
$
1,023

 
$
1,007

 
$
979

 
$
734

 
$
768

Fixed charges
 
384

 
384

 
385

 
385

 
397

Total earnings available for fixed charges
 
$
1,407

 
$
1,391

 
$
1,364

 
$
1,119

 
$
1,165

 
 
 
 
 
 
 
 
 
 
 
Fixed Charges and Preferred Stock Dividends:
 
 
 
 
 
 
 
 
 
 
Interest expense
 
$
379

 
$
379

 
$
379

 
$
380

 
$
392

Estimated interest portion of rentals
 
 
 
 
 
 
 
 
 
 
charged to expense
 
5

 
5

 
6

 
5

 
5

Total fixed charges
 
384

 
384

 
385

 
385

 
397

Preferred stock dividends (1)
 

 

 
2

 
3

 
3

Total fixed charges and preferred stock dividends
 
$
384

 
$
384

 
$
387

 
$
388

 
$
400

 
 
 
 
 
 
 
 
 
 
 
Ratio of Earnings to Combined Fixed
 
 
 
 
 
 
 
 
 
 
Charges and Preferred Stock Dividends
 
3.7x

 
3.6x

 
3.5x

 
2.9x

 
2.9x


(1)    Represents actual preferred stock dividends grossed up for income taxes.