114
EXHIBIT 12-2
PECO ENERGY COMPANY AND SUBSIDIARY COMPANIES
COMPUTATION OF RATIO OF EARNINGS TO COMBINED FIXED CHARGES
AND PREFERRED STOCK DIVIDEND REQUIREMENTS
SEC METHOD
($000)
12 MONTHS
ENDED
12/31/93
------------
NET INCOME $590,648
ADD BACK:
- - INCOME TAXES:
OPERATING INCOME 354,391
NON-OPERATING INCOME 11,808
------------
NET TAXES 366,199
- - FIXED CHARGES:
TOTAL INTEREST 436,790
ANNUAL RENTALS 8,361
------------
TOTAL FIXED CHARGES 445,151
EARNINGS REQUIRED FOR PREFERRED DIVIDENDS:
DIVIDENDS ON PREFERRED STOCK 49,058
ADJUSTMENT TO PREFERRED DIVIDENDS* 30,416
------------
79,474
FIXED CHARGES AND PREFERRED DIVIDENDS $524,625
============
EARNINGS BEFORE INCOME TAXES AND FIXED CHARGE $1,401,998
RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND
EARNINGS REQUIRED FOR PREFERRED DIVIDEND 2.67
============
* ADDITIONAL CHARGE EQUIVALENT TO EARNINGS REQUIRED
TO ADJUST DIVIDENDS ON PREFERRED STOCK TO A PRE-TAX BASIS