EX-12.3 5 exc-20171231x10kxexh123.htm COMMONWEALTH EDISON COMPANY COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES Exhibit
Exhibit 12.3


Commonwealth Edison Company
Ratio of Earnings to Fixed Charges
 
 
Years Ended December 31,
(In millions, except ratios)
 
2013
 
2014
 
2015
 
2016
 
2017
Pre-tax income from continuing operations
 
401

 
676

 
706

 
679

 
984

Less:Capitalized interest
 
(5
)
 
(2
)
 
(4
)
 
(8
)
 
(8
)
Pre-tax income from continuing operations after adjustment for income or loss from equity investees and capitalized interest
 
396


674


702


671


976

Fixed Charges:
 
 
 
 
 
 
 
 
 
 
Interest expensed and capitalized, amortization of debt discount and premium on all indebtedness
 
575

 
311

 
331

 
465

 
365

Interest component of rental expense(a)
 
5

 
5

 
4

 
5

 
3

Total fixed charges
 
580


316


335


470


368

Pre-tax income from continuing operations after adjustment for income or loss from equity investees, capitalized interest plus fixed charges
 
976


990


1,037


1,141


1,344

Ratio of earnings to fixed charges
 
1.7


3.1


3.1


2.4


3.7

__________
(a)
Represents one-third of rental expense relating to operating leases, which is a reasonable approximation of the interest factor.