Exhibit 12
ONCOR ELECTRIC DELIVERY COMPANY
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
Year Ended December 31,
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2003 2002 2001 2000
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Millions of Dollars, Except Ratios
EARNINGS:
Income (loss) from continuing operations $ 258 $ 245 $ 228 $ 226
Add:Total federal income taxes 126 118 119 120
Fixed charges (see detail below) 309 274 280 270
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Total earnings $ 693 $ 637 $ 627 $ 616
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FIXED CHARGES:
Interest expense, excluding capitalized interest $ 304 $ 270 $ 274 $ 264
Rentals representative of the interest factor 5 4 6 6
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Total fixed charges $ 309 $ 274 $ 280 $ 270
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RATIO OF EARNINGS TO FIXED CHARGES 2.24 2.32 2.24 2.28
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