ComEd 2015 Annual Report Download - page 583

Exhibit 12.4
PECO Energy Company
Ratio of Earnings to Fixed Charges
Years Ended December 31,
2011 2012 2013 2014 2015
Pre-tax income from continuing operations 535 508 557 466 521
Plus: Loss from equity investees — — — — —
Less: Capitalized interest (4) (2) (2) (2) (2)
Pre-tax income from continuing operations after adjustment for income or loss from equity investees and capitalized
interest 531 506 555 464 519
Fixed Charges:
Interest expensed and capitalized, amortization of debt discount and premium on all indebtedness 135 122 114 112 114
Interest component of rental expense (a) 9 9 7 5 3
Total fixed charges 144 131 121 117 117
Pre-tax income from continuing operations after adjustment for income or loss from equity investees and capitalized
interest plus fixed charges 675 637 676 581 636
Ratio of earnings to combined fixed charges 4.7 4.9 5.6 5.0 5.4
(a) Represents one-third of rental expense relating to operating leases, which is a reasonable approximation of the interest factor.
PECO Energy Company
Ratio of Earnings to Fixed Charges and Preferred Stock Dividends
Years Ended December 31,
2011 2012 2013 2014 2015
Pre-tax income from continuing operations 535 508 557 466 521
Plus: Loss from equity investees — — — — —
Less: Capitalized interest (4) (2) (2) (2) (2)
Preference security dividend requirements (6) (5) (10) — —
Pre-tax income from continuing operations after adjustment for income or loss from equity investees, capitalized interest
and preference security dividend requirements 525 501 545 464 519
Fixed Charges:
Interest expensed and capitalized, amortization of debt discount and premium on all indebtedness 135 122 114 112 114
Interest component of rental expense (a) 9 9 7 5 3
Preference security dividend requirements 6 5 10 — —
Total fixed charges 150 136 131 117 117
Pre-tax income from continuing operations after adjustment for income or loss from equity investees, capitalized interest
and preference security dividend requirements plus fixed charges 675 637 676 581 636
Ratio of earnings to fixed charges and preferred stock dividends 4.5 4.7 5.2 5.0 5.4
(a) Represents one-third of rental expense relating to operating leases, which is a reasonable approximation of the interest factor.
Source: BALTIMORE GAS & ELECTRIC CO, 10-K, February 10, 2016 Powered by Morningstar® Document Research℠
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