Exhibit 12.2
Exelon Generation Company, LLC
Ratio of Earnings to Fixed Charges
Years Ended December 31, | Quarter Ended March 31, | |||||||||||||||||||||||
2007 | 2008 | 2009 | 2010 | 2011 | 2012 | |||||||||||||||||||
Pre-tax income from continuing operations | 3,387 | 3,388 | 3,555 | 3,150 | 2,827 | 396 | ||||||||||||||||||
Plus: (Income) or loss from equity investees | (1 | ) | 1 | 3 | — | 1 | 22 | |||||||||||||||||
Less: Capitalized interest | (30 | ) | (33 | ) | (49 | ) | (38 | ) | (49 | ) | (13 | ) | ||||||||||||
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Pre-tax income from continuing operations after adjustment for income or loss from equity investees and capitalized interest | 3,356 | 3,356 | 3,509 | 3,112 | 2,779 | 405 | ||||||||||||||||||
Fixed charges: | ||||||||||||||||||||||||
Interest expensed and capitalized, amortization of debt discount and premium on all indebtedness (a) | 196 | 170 | 162 | 191 | 219 | 67 | ||||||||||||||||||
Interest component of rental expense (b) | 273 | 272 | 212 | 222 | 220 | 43 | ||||||||||||||||||
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Total fixed charges | 469 | 442 | 374 | 413 | 439 | 110 | ||||||||||||||||||
Pre-tax income from continuing operations after adjustment for income or loss from equity investees and capitalized interest plus fixed charges | 3,825 | 3,798 | 3,883 | 3,525 | 3,218 | 515 | ||||||||||||||||||
Ratio of earnings to fixed charges | 8.2 | 8.6 | 10.4 | 8.5 | 7.3 | 4.7 |
(a) | Includes interest expense for the quarter ended March 31, 2012 of $1 million and $(5) million, $6 million, $9 million, $0 and $24 million for the years ended December 31, 2011, 2010, 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. |