EX-12.1 5 exc20180814121.htm EXHIBIT 12.1 Exhibit
Exhibit 12.1


 
ComEd Company
 
 
 
 
 
 
 
 
Ratio of Earnings to Combined Fixed Charges
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Six Months
 
 
 
 
 
 
 
 
 
Ended
 
 
 
Years Ended December 31,
 
June 30,
 
 
 
2013
2014
2015
2016
2017
 
2018
Pre-tax income from continuing operations before adjustment
$
401

$
676

$
706

$
679

$
984

 
$
417

Less:
Capitalized interest
(5
)
(2
)
(4
)
(8
)
(8
)
 
(6
)
Pre-tax income from continuing operations after adjustment for income or loss from equity investees and capitalized interest
$
396

$
674

$
702

$
671

$
976

 
$
411

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

$
311

$
331

$
465

$
365

 
$
179

 
Interest component of rental expense (a)
5

5

4

5

3

 
2

Total fixed charges
$
580

$
316

$
335

$
470

$
368

 
$
181

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

$
990

$
1,037

$
1,141

$
1,344

 
$
592

Ratio of earnings to combined fixed charges and preferred stock dividends
1.7

3.1

3.1

2.4

3.7

 
3.3

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