Exhibit 12.2
| SOUTHERN CALIFORNIA EDISON | |||||||||||||||||
| RATIOS OF EARNINGS TO FIXED CHARGES AND PREFERRED AND PREFERENCE STOCK | |||||||||||||||||
| (Millions of Dollars) | |||||||||||||||||
| Earnings: | 2006 | 2007 | 2008 | 2009 | 2010 | ||||||||||||
| Income from continuing operations | |||||||||||||||||
| before tax and noncontrolling interest | $ 1,540 | $ 1,400 | $ 1,246 | $ 1,620 | $ 1,532 | ||||||||||||
| Less: Income from equity investees | - | - | - | - | - | ||||||||||||
| Income from continuing operations before income | |||||||||||||||||
| from equity investees, tax and noncontrolling interest | 1,540 | 1,400 | 1,246 | 1,620 | 1,532 | ||||||||||||
| Add: | |||||||||||||||||
| Fixed charges (see below) | 502 | 540 | 520 | 535 | 565 | ||||||||||||
| Amortization of capitalized interest | 1 | 2 | 2 | 2 | 2 | ||||||||||||
| Distributed income of equity investees | - | - | - | - | - | ||||||||||||
| Loss of equity investees for which charges arising from | |||||||||||||||||
| guarantees are included in fixed charges | - | - | - | - | - | ||||||||||||
| Subtract: | |||||||||||||||||
| Interest capitalized | (2) | (3) | (3) | (4) | (7) | ||||||||||||
| Preference security dividend requirements of | |||||||||||||||||
| consolidated subsidiaries - pre-tax basis | (77) | (74) | (75) | (73) | (73) | ||||||||||||
| Noncontrolling interest of subsidiaries that have not incurred | |||||||||||||||||
| fixed charges - pre-tax basis | (275) | (305) | (170) | (94) | - | ||||||||||||
| Earnings as adjusted | $ 1,689 | $ 1,560 | $ 1,520 | $ 1,986 | $ 2,019 | ||||||||||||
| Fixed Charges (1): | |||||||||||||||||
| Interest expenses - net of capitalized interest and AFUDC | $ 399 | $ 429 | $ 407 | $ 420 | $ 429 | ||||||||||||
| Add: AFUDC | 19 | 25 | 27 | 32 | 43 | ||||||||||||
| Interest expenses - net of capitalized interest | 418 | 454 | 434 | 452 | 472 | ||||||||||||
| Interest capitalized (2) | 3 | 3 | 3 | 4 | 7 | ||||||||||||
| Interest portion of rental expense (3) | 2 | 8 | 7 | 5 | 12 | ||||||||||||
| Allocable portion of interest on long-term contracts | |||||||||||||||||
| for purchased power (4) | 2 | 1 | 1 | 1 | 1 | ||||||||||||
| Preferred and preference stock dividend | |||||||||||||||||
| requirement - pre-tax basis | 77 | 74 | 75 | 73 | 73 | ||||||||||||
| Total fixed charges | $ 502 | $ 540 | $ 520 | $ 535 | $ 565 | ||||||||||||
| Ratio | 3.36 | 2.89 | 2.92 | 3.71 | 3.57 | ||||||||||||
| (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. | ||||||||||||||||