Exhibit 12.2
| SOUTHERN CALIFORNIA EDISON COMPANY | ||||||||||||||||||||
| RATIOS OF EARNINGS TO FIXED CHARGES | ||||||||||||||||||||
| (in millions, except Ratio) | ||||||||||||||||||||
| Earnings: | 2011 | 2012 | 2013 | 2014 | 2015 | |||||||||||||||
| Income from continuing operations | ||||||||||||||||||||
| before tax and noncontrolling interest | $ 1,745 | $ 1,874 | $ 1,279 | $ 2,039 | $ 1,618 | |||||||||||||||
| Less: Income from equity investees | 0 | 0 | 0 | 0 | 0 | |||||||||||||||
| Income from continuing operations before income | ||||||||||||||||||||
| from equity investees, tax and noncontrolling interest | 1,745 | 1,874 | 1,279 | 2,039 | 1,618 | |||||||||||||||
| Add: | ||||||||||||||||||||
| Fixed charges (see below) | 613 | 667 | 708 | 727 | 742 | |||||||||||||||
| Amortization of capitalized interest | 4 | 2 | 3 | 1 | 0 | |||||||||||||||
| Distributed income of equity investees | — | — | — | — | — | |||||||||||||||
| Loss of equity investees for which charges arising from | ||||||||||||||||||||
| guarantees are included in fixed charges | — | — | — | — | — | |||||||||||||||
| Subtract: | ||||||||||||||||||||
| Interest capitalized | (4 | ) | (8 | ) | (6 | ) | (2 | ) | (1 | ) | ||||||||||
| Preference security dividend requirements of | ||||||||||||||||||||
| consolidated subsidiaries - pre-tax basis | ||||||||||||||||||||
| Noncontrolling interest of subsidiaries that have not incurred | ||||||||||||||||||||
| fixed charges - pre-tax basis | — | — | — | — | — | |||||||||||||||
| Earnings as adjusted | $ 2,268 | $ 2,432 | $ 1,856 | $ 2,619 | $ 2,194 | |||||||||||||||
| — | — | — | — | |||||||||||||||||
| Fixed Charges: | ||||||||||||||||||||
| Interest expenses - net of capitalized interest and AFUDC | $ 463 | $ 499 | $ 523 | $ 533 | $ 526 | |||||||||||||||
| Add: AFUDC | 42 | 40 | 31 | 25 | 31 | |||||||||||||||
| Interest expenses - net of capitalized interest | 505 | 539 | 554 | 558 | 557 | |||||||||||||||
Interest capitalized (1) | 4 | 8 | 6 | 2 | 1 | |||||||||||||||
Interest portion of rental expense (2) | 14 | 17 | 20 | 21 | 19 | |||||||||||||||
| Total fixed charges | $ | 523 | 564 | 580 | 581 | 577 | ||||||||||||||
| Ratio | 4.34 | 4.31 | 3.20 | 4.51 | 3.80 | |||||||||||||||
(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. | |||||||||||||||||||