Exhibit 12.1
Exelon Generation Company, LLC
Ratio of Earnings to Fixed Charges
| Nine Months | ||||||||||||||||||||||||
| Ended | ||||||||||||||||||||||||
| Year Ended December 31, | September 30, | |||||||||||||||||||||||
| 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | |||||||||||||||||||
Pre-tax income from continuing operations | 3,555 | 3,150 | 2,827 | 1,058 | 1,675 | 1,327 | ||||||||||||||||||
Plus: (Income) or loss from equity investees | 3 | — | 1 | 91 | (10 | ) | 20 | |||||||||||||||||
Less: Capitalized interest | (49 | ) | (38 | ) | (49 | ) | (67 | ) | (54 | ) | (45 | ) | ||||||||||||
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Pre-tax income from continuing operations after adjustment for income or loss from equity investees and capitalized interest | 3,509 | 3,112 | 2,779 | 1,082 | 1,611 | 1,302 | ||||||||||||||||||
Fixed Charges: | ||||||||||||||||||||||||
Interest expensed and capitalized, amortization of debt discount and premium on all indebtedness | 162 | 191 | 219 | 402 | 445 | 323 | ||||||||||||||||||
Interest component of rental expense (a) | 212 | 222 | 220 | 291 | 248 | 215 | ||||||||||||||||||
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Total fixed charges | 374 | 413 | 439 | 693 | 693 | 538 | ||||||||||||||||||
Pre-tax income from continuing operations after adjustment for income or loss from equity investees and capitalized interest plus fixed charges | 3,883 | 3,525 | 3,218 | 1,775 | 2,304 | 1,840 | ||||||||||||||||||
Ratio of earnings to combined fixed charges | 10.4 | 8.5 | 7.3 | 2.6 | 3.3 | 3.4 | ||||||||||||||||||
| (a) | Represents one-third of rental expense relating to operating leases, which is a reasonable approximation of the interest factor. |
