EX-12.2 11 pacificorp123116ex122.htm PAC COMPUTATION OF RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED Exhibit


EXHIBIT 12.2
PACIFICORP
STATEMENTS OF COMPUTATION OF RATIO
OF EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED STOCK DIVIDENDS
(DOLLARS IN MILLIONS)

 
 
 
 
 
 
 
 
 
 
 
 
 
Years Ended December 31,
 
 
2016
 
2015
 
2014
 
2013
 
2012
Earnings Available for Fixed Charges:
 
 
 
 
 
 
 
 
 
 
Income from continuing operations
 
 
 
 
 
 
 
 
 
 
before income tax expense
 
$
1,103

 
$
1,023

 
$
1,007

 
$
979

 
$
734

Fixed charges
 
385

 
384

 
384

 
385

 
385

Total earnings available for fixed charges
 
$
1,488

 
$
1,407

 
$
1,391

 
$
1,364

 
$
1,119

 
 
 
 
 
 
 
 
 
 
 
Fixed Charges and Preferred Stock Dividends:
 
 
 
 
 
 
 
 
 
 
Interest expense
 
$
380

 
$
379

 
$
379

 
$
379

 
$
380

Estimated interest portion of rentals
 
 
 
 
 
 
 
 
 
 
charged to expense
 
5

 
5

 
5

 
6

 
5

Total fixed charges
 
385

 
384

 
384

 
385

 
385

Preferred stock dividends (1)
 

 

 

 
2

 
3

Total fixed charges and preferred stock dividends
 
$
385

 
$
384

 
$
384

 
$
387

 
$
388

 
 
 
 
 
 
 
 
 
 
 
Ratio of Earnings to Combined Fixed
 
 
 
 
 
 
 
 
 
 
Charges and Preferred Stock Dividends
 
3.9x

 
3.7x

 
3.6x

 
3.5x

 
2.9x


(1)    Represents actual preferred stock dividends grossed up for income taxes.