EX-12.(A) 3 dex12a.htm COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES Computation of Ratio of Earnings to Fixed Charges

Exhibit 12(a)

ENERGY FUTURE INTERMEDIATE HOLDING COMPANY LLC (SUCCESSOR) AND

ONCOR ELECTRIC DELIVERY COMPANY LLC (PREDCESSOR)

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

 

     Successor           Predecessor
                 Period from
October 11,  2007
through
December 31, 2007
          Period  from
January 1,  2007
through
October 10, 2007
         
     2009     2008             2006    2005

EARNINGS:

                   

Net loss before income taxes and equity in earnings of unconsolidated subsidiary

   $ (275   $ (260   $ (68        $ —      $ —      $ —  

Add: Distributed income of equity investees

     216        330        —               326      340      —  

Fixed charges (see detail below)

     279        262        68             —        —        —  
                                                 

Total earnings

   $ 220      $ 332      $ —             $ 326    $ 340    $ —  
                                                 
 

FIXED CHARGES:

                   

Interest expense

   $ 279      $ 262      $ 68           $ —      $ —      $ —  

Rentals representative of the interest factor

     —          —          —               —        —        —  
                                                 

Total fixed charges

   $ 279      $ 262      $ 68           $ —      $ —      $ —  
                                                 
 

RATIO OF EARNINGS TO FIXED CHARGES (a)

     0.79        1.27        —               —        —        —  
                                                 

 

(a) Fixed charges exceeded earnings by $59 million and $68 million for the year ended December 31, 2009 and the period from October 11, 2007 through December 31, 2007, respectively.

 

     Successor  
     Three Months Ended March 31,  
     2010     2009  

EARNINGS:

    

Net loss before income taxes and equity in earnings of unconsolidated subsidiary

   $ (72   $ (69

Add: Distributed income of equity investees

     30        18   

Fixed charges (see detail below)

     74        69   
                

Total earnings

   $ 32      $ 18   
                

FIXED CHARGES:

    

Interest expense

   $ 74      $ 69   

Rentals representative of the interest factor

     —          —     
                

Total fixed charges

   $ 74      $ 69   
                

RATIO OF EARNINGS TO FIXED CHARGES (a)

     0.43        0.26   
                

 

(a) Fixed charges exceeded earnings by $42 million and $51 million for the three months ended March 31, 2010 and 2009, respectively.