SOUTHERN CALIFORNIA EDISON COMPANY AND CONSOLIDATED UTILITY-RELATED SUBSIDIARIES RATIOS OF EARNINGS TO FIXED CHARGES (Thousands of Dollars) Year Ended December 31, 9 Months 9 Months 12 Months ------------------------------------------------- Ended Ended Ended Sept. 30, Sept. 30, Sept. 30, 2000 2001 2002 2003 2004 2004 2005 2005 --------------------------------------------------------------------------------------- EARNINGS BEFORE INCOME TAXES AND FIXED CHARGES: Income before interest expense(1) $(2,478,036) $4,850,848 $2,473,121 $1,727,267 $1,767,449 $1,304,196 $1,050,457 $1,501,738 Add: Rentals(2) 2,905 2,128 1,240 638 776 537 900 1,141 Allocable portion of interest on long-term Contracts for the purchase of power(3) 1,699 1,659 1,616 1,568 1,515 1,142 1,099 1,472 Amortization of previously capitalized fixed charges 1,390 1,083 1,440 1,638 1,405 1,155 1,206 1,456 ---------- --------- --------- --------- --------- --------- -------- ---------- Total earnings before income taxes and fixed charges (A) $(2,472,042) $4,855,718 $2,477,417 $1,731,111 $1,771,145 $1,307,030 $1,053,662 $1,505,807 ========== ========== ========== ========== ========== ========== ========== ========== FIXED CHARGES: Interest and amortization $ 571,760 $ 784,858 $ 584,442 $ 451,792 $ 399,169 $ 294,823 $ 285,677 $ 378,051 Rentals (2) 2,905 2,128 1,240 638 776 537 900 1,141 Capitalized fixed charges- nuclear fuel(4) 1,538 756 520 97 839 570 536 805 Allocable portion of interest on long-term contracts for the purchase of power(3) 1,699 1,659 1,616 1,568 1,515 1,142 1,099 1,472 ---------- ---------- --------- ---------- -------- ---------- --------- --------- Total fixed charges (B) $ 577,902 $ 789,401 $ 587,818 $ 454,095 $ 402,299 $ 297,072 $ 288,212 $ 381,469 ========== ========== ========== ========== ========== ========== ========== ========= RATIO OF EARNINGS TO FIXED CHARGES (A) / (B): (4.28)(5) 6.15 4.21 3.81 4.40 4.40 3.66 3.95 ========= ========= ========= ======== ======== ========= ======== ========= (1) Includes allowance for funds used during construction and accrual of unbilled revenue. (2) Rentals include the interest factor relating to certain significant rentals plus one-third of all remaining annual rentals. (3) Allocable portion of interest included in annual minimum debt service requirement of supplier. (4) Includes fixed charges associated with Nuclear Fuel. (5) Ratio for 2000 is less than 1.00. In 2000, SCE needed an additional $3,049,944,000 in earnings before income taxes and fixed charges to achieve a 1.00 ratio.
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8-K Filing
SOUTHERN CALIFORNIA EDISON (SCE-PN) 8-KOther Events
Filed: 27 Jan 06, 12:00am