EX-12.1 5 ex12-1.htm EXHIBIT 12.1 Exhibit





 
ComEd Company
 
 
 
 
 
 
 
 
Ratio of Earnings to Combined Fixed Charges
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Six Months
 
 
 
 
 
 
 
 
 
Ended
 
 
 
Years Ended December 31,
 
June 30,
 
 
 
2012
2013
2014
2015
2016
 
2017
Pre-tax income from continuing operations before adjustment
$
618

$
401

$
676

$
706

$
679

 
$
456

Plus:
Loss from equity investees
—

—

—

—

—

 
—

Less:
Capitalized interest
(3
)
(5
)
(2
)
(4
)
(8
)
 
(4
)
Pre-tax income from continuing operations after adjustment for income or loss from equity investees and capitalized interest
$
615

$
396

$
674

$
702

$
671

 
$
452

Fixed charges:
 
 
 
 
 
 
 
 
Interest expensed and capitalized, amortization of debt discount and premium on all indebtness
$
297

$
575

$
311

$
331

$
465

 
$
187

 
Interest component of rental expense (a)
6

5

5

4

5

 
2

Total fixed charges
$
303

$
580

$
316

$
335

$
470

 
$
189

 
 
 
 
 
 
 
 
 
 
Pre-tax income from continuing operations after adjustment for income or loss from equity investees and capitalized interest plus fixed charges
$
918

$
976

$
990

$
1,037

$
1,141

 
$
641

Ratio of earnings to combined fixed charges and preferred stock dividends
3

1.7

3.1

3.1

2.4

 
3.4

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(a)
Represents one-third of rental expense relating to operating leases, which is a reasonable approximation of the interest factor.