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Exhibit 12
TXU ELECTRIC DELIVERY COMPANY
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
| Year Ended December 31, | ||||||||||||||||
| 2004 | 2003 | 2002 | 2001 | 2000 | ||||||||||||
| Millions of Dollars, Except Ratios | ||||||||||||||||
| EARNINGS: | ||||||||||||||||
| Income from continuing operations | $ | 255 | $ | 258 | $ | 245 | $ | 228 | $ | 226 | ||||||
Add: Total federal income taxes | 116 | 126 | 118 | 119 | 120 | |||||||||||
| Fixed charges (see detail below) | 287 | 309 | 274 | 280 | 270 | |||||||||||
| Total earnings | $ | 658 | $ | 693 | $ | 637 | $ | 627 | $ | 616 | ||||||
| FIXED CHARGES: | ||||||||||||||||
| Interest expense, excluding capitalized interest | $ | 283 | $ | 304 | $ | 270 | $ | 274 | $ | 264 | ||||||
| Rentals representative of the interest factor | 4 | 5 | 4 | 6 | 6 | |||||||||||
| Total fixed charges | $ | 287 | $ | 309 | $ | 274 | $ | 280 | $ | 270 | ||||||
| RATIO OF EARNINGS TO FIXED CHARGES | 2.29 | 2.24 | 2.32 | 2.24 | 2.28 | |||||||||||