EX-12.2 5 pacificorp123111ex122.htm STATEMENTS OF COMPUTATION OF RATIO PacifiCorp 12.31.11 EX 12.2


EXHIBIT 12.2
PACIFICORP
STATEMENTS OF COMPUTATION OF RATIO
OF EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED STOCK DIVIDENDS
(DOLLARS IN MILLIONS)

 
 
 
 
 
 
 
 
 
 
 
 
 
Years Ended December 31,
 
 
2011
 
2010
 
2009
 
2008
 
2007
Earnings Available for Fixed Charges:
 
 
 
 
 
 
 
 
 
 
Income from continuing operations
 
 
 
 
 
 
 
 
 
 
before income tax expense
 
$
768

 
$
777

 
$
784

 
$
703

 
$
665

Add:
 
 
 
 
 
 
 
 
 
 
Fixed charges
 
397

 
392

 
398

 
349

 
322

Deduct:
 
 
 
 
 
 
 
 
 
 
Net income attributable to noncontrolling
 
 
 
 
 
 
 
 
 
 
interest in subsidiary that has not
 
 
 
 
 
 
 
 
 
 
incurred fixed charges
 
—

 
—

 
(8
)
 
(7
)
 
(6
)
Total earnings available for fixed charges
 
$
1,165

 
$
1,169

 
$
1,174

 
$
1,045

 
$
981

 
 
 
 
 
 
 
 
 
 
 
Fixed Charges and Preferred Stock
 
 
 
 
 
 
 
 
 
 
Dividends:
 
 
 
 
 
 
 
 
 
 
Interest expense
 
$
392

 
$
387

 
$
394

 
$
343

 
$
314

Estimated interest portion of rentals
 
 
 
 
 
 
 
 
 
 
charged to expense
 
5

 
5

 
4

 
6

 
8

Total fixed charges
 
397

 
392

 
398

 
349

 
322

Preferred stock dividends (1)
 
3

 
3

 
3

 
3

 
3

Total fixed charges and preferred stock
 
 
 
 
 
 
 
 
 
 
dividends
 
$
400

 
$
395

 
$
401

 
$
352

 
$
325

 
 
 
 
 
 
 
 
 
 
 
Ratio of Earnings to Combined Fixed
 
 
 
 
 
 
 
 
 
 
Charges and Preferred Stock Dividends
 
2.9x

 
 3.0 x

 
 2.9 x

 
 3.0 x

 
 3.0 x


(1)    Represents actual preferred stock dividends grossed up for income taxes.