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)
6 MONTHS
ENDED
06/30/96
NET INCOME $ 249,079
ADD BACK:
- - INCOME TAXES:
OPERATING INCOME 175,183
NON-OPERATING INCOME (238)
---------
NET TAXES 174,945
- - FIXED CHARGES:
INTEREST APPLICABLE TO DEBT 187,931
ANNUAL RENTALS 4,400
---------
TOTAL FIXED CHARGES 192,331
EARNINGS REQUIRED FOR PREFERRED DIVIDENDS:
DIVIDENDS ON PREFERRED STOCK 9,018
ADJUSTMENT TO PREFERRED DIVIDENDS* 6,334
---------
15,352
FIXED CHARGES AND PREFERRED DIVIDENDS $ 207,683
=========
EARNINGS BEFORE INCOME TAXES AND
FIXED CHARGES $ 616,355
=========
RATIO OF EARNINGS TO COMBINED FIXED CHARGES
AND PREFERRED STOCK DIVIDEND REQUIREMENTS 2.97
=========
* ADDITIONAL CHARGE EQUIVALENT TO EARNINGS REQUIRED
TO ADJUST DIVIDENDS ON PREFERRED STOCK TO A PRE-TAX BASIS