Exhibit 12.1
ComEd Company | |||||||||||||||||||||
Ratio of Earnings to Combined Fixed Charges | |||||||||||||||||||||
Six Months | |||||||||||||||||||||
Ended | |||||||||||||||||||||
Years Ended December 31, | June 30, | ||||||||||||||||||||
2013 | 2014 | 2015 | 2016 | 2017 | 2018 | ||||||||||||||||
Pre-tax income from continuing operations before adjustment | $ | 401 | $ | 676 | $ | 706 | $ | 679 | $ | 984 | $ | 417 | |||||||||
Less: | Capitalized interest | (5 | ) | (2 | ) | (4 | ) | (8 | ) | (8 | ) | (6 | ) | ||||||||
Pre-tax income from continuing operations after adjustment for income or loss from equity investees and capitalized interest | $ | 396 | $ | 674 | $ | 702 | $ | 671 | $ | 976 | $ | 411 | |||||||||
Fixed charges: | |||||||||||||||||||||
Interest expensed and capitalized, amortization of debt discount and premium on all indebtedness | $ | 575 | $ | 311 | $ | 331 | $ | 465 | $ | 365 | $ | 179 | |||||||||
Interest component of rental expense (a) | 5 | 5 | 4 | 5 | 3 | 2 | |||||||||||||||
Total fixed charges | $ | 580 | $ | 316 | $ | 335 | $ | 470 | $ | 368 | $ | 181 | |||||||||
Pre-tax income from continuing operations after adjustment for income or loss from equity investees and capitalized interest plus fixed charges | $ | 976 | $ | 990 | $ | 1,037 | $ | 1,141 | $ | 1,344 | $ | 592 | |||||||||
Ratio of earnings to combined fixed charges and preferred stock dividends | 1.7 | 3.1 | 3.1 | 2.4 | 3.7 | 3.3 | |||||||||||||||
(a) | Represents one-third of rental expense relating to operating leases, which is a reasonable approximation of the interest factor. | ||||||||||||||||||||