Delmarva Power & Light 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 | 146 | 169 | 125 | 13 | 192 | ||||||||||
Less: Capitalized interest | — | — | — | (2 | ) | (3 | ) | ||||||||
Pre-tax income from continuing operations after adjustment for income or loss from equity investees and capitalized interest | 146 | 169 | 125 | 11 | 189 | ||||||||||
Fixed Charges: | |||||||||||||||
Interest expensed and capitalized, amortization of debt discount and premium on all indebtedness | 52 | 49 | 50 | 51 | 53 | ||||||||||
Interest component of rental expense(a) | 3 | 4 | 4 | 5 | 5 | ||||||||||
Total fixed charges | 55 | 53 | 54 | 56 | 58 | ||||||||||
Pre-tax income from continuing operations after adjustment for income or loss from equity investees and capitalized interest plus fixed charges | 201 | 222 | 179 | 67 | 247 | ||||||||||
Ratio of earnings to fixed charges | 3.7 | 4.2 | 3.3 | 1.2 | 4.3 | ||||||||||
(a) | Represents one-third of rental expense relating to operating leases, which is a reasonable approximation of the interest factor. |