Edison International (EIX) S-3ASR Automatic shelf registration

Exhibit 12.1

EDISON INTERNATIONAL

RATIOS OF EARNINGS TO FIXED CHARGES

(Millions of Dollars)

	2005		2006		2007		2008		2009		6 Months Ended June 30, 2010
Earnings:
Income from continuing operations before tax and noncontrolling interest	1,760		1,855		1,799		1,944		854			612
Less: Income from equity investees	136		79		79		31		42			39
Income from continuing operations before income from equity investees, tax and noncontrolling interest	1,624		1,776		1,720		1,913		812			573
Add:
Fixed charges (see below)	1,007		1,028		992		939		948			470
Amortization of capitalized interest	3		2		3		4		6			3
Distributed income of equity investees	58		61		33		24		31			39
Loss of equity investees for which charges arising from guarantees are included in fixed charges	—		—		—		—		—			—
Subtract:
Interest capitalized	(1	)	(11	)	(28	)	(35	)	(23	)		(27	)
Preference security dividend requirements of consolidated subsidiaries – pre-tax basis	—		—		—		—		—			—
Noncontrolling interest of subsidiaries that have not incurred fixed charges – pre-tax basis	(167	)	(139	)	(156	)	(82	)	(45	)		—
Earnings as adjusted	2,524		2,717		2,564		2,763		1,729		$	1,058
Fixed Charges (1):
Interest expenses – net of capitalized interest and AFUDC	790		806		752		700		732			343
Add: AFUDC	14		19		25		27		32			22
Interest expenses – net of capitalized interest	804		825		777		727		764			365
Interest capitalized (2)	1		11		28		35		23			27
Interest portion of rental expense (3)	201		191		186		176		160			77
Allocable portion of interest on long-term contracts for purchased power (4)	1		1		1		1		1			1
Preferred and preference stock dividend requirement – pre-tax basis	—		—		—		—		—			—
Total fixed charges	1,007		1,028		992		939		948		$	470
Ratio	2.51		2.64		2.58		2.94		1.82			2.25

(1) Interest expenses associated with income taxes are reflected as a component of income tax expense and are excluded from the determination of fixed charges.

(2) Includes fixed charges associated with Nuclear Fuel and capitalized interest of fifty-percent owned partnership. The amount for 2006 is restated.

(3) 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.

(4) Allocable portion of interest included in annual minimum debt service requirement of supplier.