SOUTHERN CALIFORNIA EDISON (SCE-PN) 8-K Other Events

Exhibit 12

SOUTHERN CALIFORNIA EDISON COMPANY
RATIOS OF EARNINGS TO FIXED CHARGES
(Millions of Dollars)
Earnings:		2008			2009			2010			2011			2012
Income from continuing operations
	before tax and noncontrolling interest	$	1,246		$	1,620		$	1,532		$	1,745		$	1,874
Less: Income from equity investees		—			—			—			—			—
Income from continuing operations before income
	from equity investees, tax and noncontrolling interest	1,246			1,620			1,532			1,745			1,874
Add:
Fixed charges (see below)		445			462			492			523			564
Amortization of capitalized interest		2			2			2			4			2
Distributed income of equity investees		—			—			—			—			—
Loss of equity investees for which charges arising from
	guarantees are included in fixed charges							—			—			—
Subtract:
Interest capitalized		(3		)	(4		)	(7		)	(4		)	(8		)
Noncontrolling interest of subsidiaries that have not incurred
	fixed charges - pre-tax basis	(170		)	(94		)	—			—			—
Earnings as adjusted		$	1,520		$	1,986		$	2,019		$	2,268		$	2,432
Fixed Charges (1):
Interest expenses - net of capitalized interest and AFUDC		$	407		$	420		$	429		$	463		$	499
Add: AFUDC		27			32			43			42			40
Interest expenses - net of capitalized interest		434			452			472			505			539
Interest capitalized (2)		3			4			7			4			8
Interest portion of rental expense (3)		8			6			13			14			17
Total fixed charges		$	445		$	462		$	492		$	523		$	564
Ratio		3.42			4.30			4.10			4.34			4.31
(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.
(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.