Exhibit 12(a)
ONCOR ELECTRIC DELIVERY COMPANY LLC
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
000000000 | 000000000 | 000000000 | 000000000 | 000000000 | 000000000 | |||||||||||||||||||
Successor | Predecessor | |||||||||||||||||||||||
Year Ended December 31, | Period from October 11, 2007 through | Period from January 1, 2007 through | ||||||||||||||||||||||
2011 | 2010 | 2009 | 2008 | December 31, 2007 | October 10, 2007 | |||||||||||||||||||
(millions of dollars, except ratios) | ||||||||||||||||||||||||
Earnings: | ||||||||||||||||||||||||
Income from continuing operations | $ | 367 | $ | 352 | $ | 320 | $ | (487 | ) | $ | 64 | $ | 263 | |||||||||||
Add: Total federal income taxes | 229 | 215 | 173 | 221 | 31 | 159 | ||||||||||||||||||
Fixed charges (see detail below) | 368 | 355 | 353 | 326 | 73 | 251 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Total earnings | $ | 964 | $ | 922 | $ | 846 | $ | 60 | $ | 168 | $ | 673 | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Fixed Charges: | ||||||||||||||||||||||||
Interest expense, excluding capitalized interest | $ | 362 | $ | 349 | $ | 348 | $ | 322 | $ | 72 | $ | 248 | ||||||||||||
Rentals representative of the interest factor | 6 | 6 | 5 | 4 | 1 | 3 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Total fixed charges | $ | 368 | $ | 355 | $ | 353 | $ | 326 | $ | 73 | $ | 251 | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Ratio of earnings to fixed charges (a) | 2.62 | 2.60 | 2.40 | — | 2.30 | 2.68 |
(a) | Fixed charges exceeded earnings by $266 million for the year ended December 31, 2008. |