Exhibit 12
TXU CORP.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES,
AND RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND PREFERENCE DIVIDENDS
Year Ended December 31,
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2002 2001 2000 1999 1998
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Millions of Dollars, Except Ratios
EARNINGS:
Income (loss) from continuing operations $ 175 $ 639 $ 666 $ 686 $ 600
Add: Total federal income taxes 94 273 278 314 407
Fixed charges (see detail below) 958 1,045 1,088 1,084 1,035
Preferred dividends of subsidiaries 13 14 14 14 16
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Total earnings $1,240 $1,971 $2,046 $2,098 $2,058
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FIXED CHARGES:
Interest expense $ 843 $ 873 $ 911 $ 924 $ 908
Rentals representative of the interest factor 75 71 68 64 53
Distributions on preferred trust securities
of subsidiaries* 40 101 109 96 74
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Fixed charges deducted from earnings 958 1,045 1,088 1,084 1,035
Preferred dividends of subsidiaries (pretax)** 20 20 20 20 27
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Total fixed charges 978 1,065 1,108 1,104 1,062
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Preference dividends of registrant (pretax) ** 34 31 17 - -
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Fixed charges and preference dividends $1,012 $1,096 $1,125 $1,104 $1,062
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RATIO OF EARNINGS TO FIXED CHARGES 1.27 1.85 1.85 1.90 1.94
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RATIO OF EARNINGS TO COMBINED FIXED
CHARGES AND PREFERENCE DIVIDENDS 1.23 1.80 1.82 1.90 1.94
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* Distributions on preferred trust securities are deductible for tax purposes.
** Preferred/preference dividends multiplied by the ratio of pre-tax income to
net income.