EX-12.(B) 4 dex12b.htm EFH CORP. COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES EFH Corp. Computation of Ratio of Earnings to Fixed Charges

Exhibit 12(b)

ENERGY FUTURE HOLDINGS CORP.

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES,

AND RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND PREFERENCE DIVIDENDS

 

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

EARNINGS:

              

Income (loss) from continuing operations before extraordinary loss and cumulative effect of changes in accounting principles

   $ 408   $ (9,998 )    $ (1,361 )      $ 699   $ 2,465   $ 1,775

Add: Total federal income tax expense (benefit)

     367     (471 )      (673 )        309     1,263     632

Fixed charges (see detail below)

     3,225     5,280        905          777     907     856

Preferred dividends of subsidiaries

     —       —          —            —       —       3
                                         

Total earnings (loss)

   $ 4,000   $ (5,189 )    $ (1,129 )      $ 1,785   $ 4,635   $ 3,266
                                         
 

FIXED CHARGES:

              

Interest expense

   $ 3,190   $ 5,246      $ 899        $ 750   $ 877   $ 817

Rentals representative of the interest factor

     35     34        6          27     30     39
                                         

Fixed charges deducted from earnings

     3,225     5,280        905          777     907     856

Preferred dividends of subsidiaries (pretax) (a)

     —       —          —            —       —       4
                                         

Total fixed charges

     3,225     5,280        905          777     907     860

Preference dividends of registrant (pretax)

     —       —          —            —       —       14
                                         

Fixed charges and preference dividends

   $ 3,225   $ 5,280      $ 905        $ 777   $ 907   $ 874
                                         
 

RATIO OF EARNINGS TO FIXED CHARGES (b)

     1.24     —          —            2.30     5.11     3.80
                                         
 

RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND PREFERENCE DIVIDENDS (b)

     1.24     —          —            2.30     5.11     3.74
                                         

 

(a) Preferred/preference dividends multiplied by the ratio of pretax income to net income.
(b) Fixed charges and combined fixed charges and preference dividends exceeded earnings by $10.469 billion and $2.034 billion for the year ended December 31, 2008 and for the period from October 11, 2007 through December 31, 2007, respectively.

 

     Successor
     Three Months Ended March 31,
     2010      2009

EARNINGS:

        

Net income

    $ 355      $ 454

Add: Total federal income tax expense

      203        333

Fixed charges (see detail below)

      993        771

Preferred dividends of subsidiaries

      —          —  
               

Total earnings

    $ 1,551      $ 1,558
               

FIXED CHARGES:

        

Interest expense

    $ 985      $ 762

Rentals representative of the interest factor

      8        9
               

Fixed charges deducted from earnings

      993        771

Preferred dividends of subsidiaries (pretax) (a)

      —          —  
               

Total fixed charges

      993        771

Preference dividends of registrant (pretax)

      —          —  
               

Fixed charges and preference dividends

    $ 993      $ 771
               

RATIO OF EARNINGS TO FIXED CHARGES

      1.56        2.02
               

RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND PREFERENCE DIVIDENDS

      1.56        2.02
               

 

(a) Preferred/preference dividends multiplied by the ratio of pretax income to net income.