Edison International (EIX) 8-K Other Events

Exhibit 12

EDISON INTERNATIONAL
RATIOS OF EARNINGS TO FIXED CHARGES
(Millions of Dollars)
Earnings:		2012			2013			2014			2015			2016
Income from continuing operations
	before tax and noncontrolling interest	$	1,861		$	1,221		$	1,979		$	1,568		$	1,590
Less: Income from equity investees		1			—			—			—			—
Income from continuing operations before income
	from equity investees, tax and noncontrolling interest	1,860			1,221			1,979			$	1,568		$	1,590
Add:
Fixed charges (see below)		586			601			608			606			$	621
Amortization of capitalized interest		2			3			1			—			—
Distributed income of equity investees		—			—			—			—			—
Loss of equity investees for which charges arising from
	guarantees are included in fixed charges	—			—			—			—			—
Subtract:
Interest capitalized		(8		)	(6		)	(2		)	(1		)	(1		)
Preference security dividend requirements of
	consolidated subsidiaries - pre-tax basis	—			—			—			—			—
Noncontrolling interest of subsidiaries that have not incurred
	fixed charges - pre-tax basis	—			—			3			16			9
Earnings as adjusted		$	2,440		$	1,819		$	2,589		$	2,189		$	2,219
Fixed Charges:
Interest expenses - net of capitalized interest and AFUDC		$	521		$	544		$	560		$	555		$	581
Add: AFUDC		40			31			25			31			23
Interest expenses - net of capitalized interest		561			575			585			$	586		$	604
Interest capitalized (1)		8			6			2			1			1
Interest portion of rental expense (2)		17			20			21			19			16
Total fixed charges		$	586		$	601		$	608		$	606		$	621
Ratio (3)		4.16			3.03			4.26			3.61			3.57
(1) Includes fixed charges associated with nuclear fuel.
(2) Rentals include the interest factor relating to certain significant rentals plus one-third of all remaining annual rentals, except for amounts allocated to power purchase contracts that are classified as operating leases.
(3) As a result of Edison Mission Energy's ("EME") bankruptcy filling, the operations of EME prior to December 17, 2012 and for all prior years, were reflected as discontinued operations in the consolidated financial statements.