Exhibit 12.2
Exelon Generation Company, LLC
Ratio of Earnings to Fixed Charges
Years Ended December 31, | |||||||||||||||
2005 | 2006 | 2007 | 2008 | 2009 | |||||||||||
Pre-tax income from continuing operations before adjustment for income or loss from equity investees and minority interest | 1,818 | 2,269 | 3,387 | 3,388 | 3,555 | ||||||||||
Plus: (Income) or loss from equity investees | 1 | 9 | (1 | ) | 1 | 3 | |||||||||
Less: Capitalized interest | (12 | ) | (21 | ) | (30 | ) | (33 | ) | (49 | ) | |||||
Pre-tax income from continuing operations after adjustment for income or loss from equity investees, minority interest and capitalized interest | 1,807 | 2,257 | 3,356 | 3,356 | 3,509 | ||||||||||
Fixed charges: | |||||||||||||||
Interest expensed and capitalized, amortization of debt discount and premium on all indebtness | 140 | 180 | 196 | 170 | 162 | (a) | |||||||||
Interest component of rental expense (b) | 266 | 242 | 273 | 272 | 212 | ||||||||||
Total fixed charges | 406 | 422 | 469 | 442 | 374 | ||||||||||
Pre-tax income from continuing operations after adjustment for income or loss from equity investees and capitalized interest plus fixed charges | 2,213 | 2,679 | 3,825 | 3,798 | 3,883 | ||||||||||
Ratio of earnings to fixed charges | 5.5 | 6.3 | 8.2 | 8.6 | 10.4 |
(a) | Includes interest expense of $9 million, $0 and $24 million for the years ended December 31, 2009, 2008 and 2007, respectively, related to uncertain income tax positions. |
(b) | Represents one-third of rental expense relating to operating leases, which is a reasonable approximation of the interest factor. |