EX-12.2 7 d442548dex122.htm EX-12.2 EX-12.2

Exhibit 12.2

Enel Generación Chile S.A.    

STATEMENT OF RATIOS OF EARNINGS TO FIXED CHARGES    

(in thousands of Chilean pesos, except ratio)    

 

     Six Months
ended June 30,		      Fiscal Year ended December 31,  
     2017      2016     2015     2014  

Earnings Available for Fixed Charges (A):

          

Pre-tax income from continuing operations

    $ 250,919        525,077       300,487       163,216  

Less:

          

Equity in earnings of affiliates, net of dividends

      778        (7,878 )      (8,905 )      54,353  
  

 

 

     

 

 

    

 

 

    

 

 

  
     251,698        517,199       291,582       217,569  

Add: fixed charges included in earnings:

          

Interest expense

      19,519        41,829       114,487       78,931  

Interest element of rentals

          
  

 

 

     

 

 

    

 

 

    

 

 

  

Total

      19,519        41,829       114,487       78,931  
  

 

 

     

 

 

    

 

 

    

 

 

  

Total earnings available for fixed charges:

    $ 271,217        559,028       406,069       296,500  
  

 

 

     

 

 

    

 

 

    

 

 

  

Fixed Charges (B):

          

Fixed charges included in earnings

    $ 19,519        41,829       114,487       78,931  

Capitalized interest

      1,516        3,001       2,221       1,817  
  

 

 

     

 

 

    

 

 

    

 

 

  

Total fixed charges

    $ 21,036        44,831       116,708       80,749  
  

 

 

     

 

 

    

 

 

    

 

 

  

Ratio of Earnings to Fixed Charges

      12.89        12.47       3.48       3.67  

 

(A) “Earnings” are defined as pre-tax income from continuing operations adjusted for undistributed earnings of less than majority owned subsidiares and fixed charges excluding capitalized interest.
(B) “Fixed Charges” are defiend as interest on borrowings (whether expensed or capitalized), the portion of rental expense applicable to interest, and amortization of debt issuance costs.