Exhibit 12
TXU US HOLDINGS COMPANY
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES,
AND RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED DIVIDENDS
Year Ended December 31,
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2001 2000 1999 1998 1997
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Millions of Dollars, Except Ratios
EARNINGS:
Net income $ 882 $ 895 $ 779 $ 798 $ 772
Add: Total federal income taxes 399 393 356 486 410
Fixed charges (see detail below) 474 478 519 568 619
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Total earnings $1,755 $1,766 $1,654 $1,852 $1,801
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FIXED CHARGES:
Interest expense $ 383 $ 382 $ 425 $ 476 $ 527
Rentals representative of the interest factor 30 27 26 24 22
Distributions on preferred trust securities
of subsidiaries* 61 69 68 68 70
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Fixed charges deducted from
earnings 474 478 519 568 619
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Preferred dividends of registrant (pretax)** 15 14 15 21 41
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Fixed charges and preferred
dividends $ 489 $ 492 $ 534 $ 589 $ 660
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RATIO OF EARNINGS TO FIXED CHARGES 3.70 3.69 3.19 3.26 2.91
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RATIO OF EARNINGS TO COMBINED FIXED
CHARGES AND PREFERRED DIVIDENDS 3.59 3.59 3.10 3.14 2.73
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* Distributions on preferred trust securities are deductible for tax purposes.
** Preferred dividends multiplied by the ratio of pre-tax income to net income.