SOUTHERN CALIFORNIA EDISON COMPANY AND CONSOLIDATED UTILITY-RELATED SUBSIDIARIES RATIOS OF EARNINGS TO FIXED CHARGES AND PREFERRED AND PREFERENCE STOCK (Thousands of Dollars) 9 Months 12 Months Year Ended December 31, Ended Ended ------------------------------------------------------------------- ------------------------------------------------------------------- 2001 2002 2003 2004 2005 Sept 30, 2006 Sept 30, 2006 ---------- ------------ ------------ ----------- ----------- ------------- ------------- ---------- ------------ ------------ ----------- ----------- ------------- ------------- EARNINGS BEFORE INCOME TAXES AND FIXED CHARGES: Income before interest expense (1) $ 4,850,848 $ 2,473,121 $ 1,727,267 $ 1,767,449 $ 1,414,472 1,381,751 $ 1,734,791 Add: Rentals (2) 2,128 1,240 638 776 1,313 1,416 1,834 Allocable portion of interest on long-term Contracts for the purchase of power (3) 1,659 1,616 1,568 1,515 1,457 1,051 1,410 Amortization of previously capitalized fixed charges 1,083 1,440 1,638 1,405 1,579 937 1,310 ---------- ------------ --------- ----------- ----------- --------- ----------- ---------- ------------ --------- ----------- ----------- --------- ----------- Total earnings before income taxes and fixed charges (A) $ 4,855,718 $ 2,477,417 $ 1,731,111 $ 1,771,145 $ 1,418,821 1,385,155 $ 1,739,345 ========== ============ ======== =========== =========== ========== ============ ========== ============ ======== =========== =========== ========== ============ FIXED CHARGES: Interest and amortization $ 784,858 $ 584,442 $ 451,792 $ 399,169 $ 370,650 310,160 $ 384,158 Rentals (2) 2,128 1,240 638 776 1,313 1,416 1,834 Capitalized fixed charges - nuclear fuel (4) 756 520 97 839 1,075 1,769 2,308 Allocable portion of interest on long-term contracts for the purchase of power (3) 1,659 1,616 1,568 1,515 1,457 1,051 1,410 Preferred and preference stock dividend requirements - pre-tax basis 37,907 29,119 22,262 22,962 37,587 61,576 78,384 ---------- ---------- ---------- ----------- ----------- ------------- ------- ---------- ---------- ---------- ----------- ----------- ------------- ------- Total fixed charges (B) $ 827,308 $ 616,937 $ 476,357 $ 425,261 $ 412,082 375,972 $ 468,094 =========== ========== =========== =========== =========== ======== =========== =========== ========== =========== =========== =========== ======== =========== RATIO OF EARNINGS TO FIXED CHARGES (A) / (B): 5.87 4.02 3.63 4.16 3.44 3.68 3.72 ========== ============ ============ =========== =========== ======== ========= ========== ============ ============ =========== =========== ======== ========= (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.
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8-K Filing
SOUTHERN CALIFORNIA EDISON (SCE-PN) 8-KOther Events
Filed: 8 Dec 06, 12:00am