PECO Energy Company | |||||||||||||||
Ratio of Earnings to Fixed Charges | |||||||||||||||
Years Ended December 31, | |||||||||||||||
(In millions, except ratios) | 2013 | 2014 | 2015 | 2016 | 2017 | ||||||||||
Pre-tax income from continuing operations | 557 | 466 | 521 | 587 | 538 | ||||||||||
Less: Capitalized interest | (2 | ) | (2 | ) | (2 | ) | (3 | ) | (3 | ) | |||||
Pre-tax income from continuing operations after adjustment for income or loss from equity investees and capitalized interest | 555 | 464 | 519 | 584 | 535 | ||||||||||
Fixed Charges: | |||||||||||||||
Interest expensed and capitalized, amortization of debt discount and premium on all indebtedness | 114 | 112 | 114 | 125 | 128 | ||||||||||
Interest component of rental expense(a) | 7 | 5 | 3 | 2 | 3 | ||||||||||
Total fixed charges | 121 | 117 | 117 | 127 | 131 | ||||||||||
Pre-tax income from continuing operations after adjustment for income or loss from equity investees and capitalized interest plus fixed charges | 676 | 581 | 636 | 711 | 666 | ||||||||||
Ratio of earnings to combined fixed charges | 5.6 | 5.0 | 5.4 | 5.6 | 5.1 | ||||||||||
(a) | Represents one-third of rental expense relating to operating leases, which is a reasonable approximation of the interest factor. |
PECO Energy Company | |||||||||||||||
Ratio of Earnings to Fixed Charges and Preferred Stock Dividends | |||||||||||||||
Years Ended December 31, | |||||||||||||||
(In millions, except ratios) | 2013 | 2014 | 2015 | 2016 | 2017 | ||||||||||
Pre-tax income from continuing operations | 557 | 466 | 521 | 587 | 538 | ||||||||||
Less: Capitalized interest | (2 | ) | (2 | ) | (2 | ) | (3 | ) | (3 | ) | |||||
Preference security dividend requirements | (10 | ) | — | — | — | — | |||||||||
Pre-tax income from continuing operations after adjustment for income or loss from equity investees, capitalized interest and preference security dividend requirements | 545 | 464 | 519 | 584 | 535 | ||||||||||
Fixed Charges: | |||||||||||||||
Interest expensed and capitalized, amortization of debt discount and premium on all indebtedness | 114 | 112 | 114 | 125 | 128 | ||||||||||
Interest component of rental expense(a) | 7 | 5 | 3 | 2 | 3 | ||||||||||
Preference security dividend requirements | 10 | — | — | — | — | ||||||||||
Total fixed charges | 131 | 117 | 117 | 127 | 131 | ||||||||||
Pre-tax income from continuing operations after adjustment for income or loss from equity investees, capitalized interest and preference security dividend requirements plus fixed charges | 676 | 581 | 636 | 711 | 666 | ||||||||||
Ratio of earnings to fixed charges and preferred stock dividends | 5.2 | 5.0 | 5.4 | 5.6 | 5.1 | ||||||||||
(a) | Represents one-third of rental expense relating to operating leases, which is a reasonable approximation of the interest factor. |