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Exhibit 12

EDISON INTERNATIONAL

RATIOS OF EARNINGS TO FIXED CHARGES AND PREFERRED AND PREFERENCE STOCK
(Millions of Dollars)

	2009			2008			2007			2006			2005			2004
Earnings:
Income from continuing operations before tax and noncontrolling interest		854			1,944			1,799			1,855			1,756			282
Less: Income from equity investees		42			31			79			79			136			66
Income from continuing operations before income from equity investees, tax and noncontrolling interest		812			1,913			1,720			1,776			1,620			216
Add:
Fixed charges (see below)		1,014			1,015			1,067			1,106			1,045			1,217
Amortization of capitalized interest		6			4			3			2			3			3
Distributed income of equity investees		31			24			33			61			58			84
Loss of equity investees for which charges arising from guarantees are included in fixed charges		—			—			—			—			—			—
Subtract:
Interest capitalized		(23	)		(35	)		(28	)		(11	)		(1	)		(1	)
Preference security dividend requirements of consolidated subsidiaries—pre-tax basis		(66	)		(76	)		(75	)		(78	)		(34	)		(13	)
Noncontrolling interest of subsidiaries that have not incurred fixed charges—pre-tax basis		(45	)		(82	)		(156	)		(139	)		(167	)		(142	)
Earnings as adjusted		1,729			2,763			2,564			2,717			2,524			1,364
Fixed Charges(1):
Interest expenses—net of capitalized interest and AFUDC		732			700			752			806			794			985
Add: AFUDC		32			27			25			19			14			—
Interest expenses—net of capitalized interest		764			727			777			825			808			985
Interest capitalized(2)		23			35			28			11			1			1
Interest portion of rental expense(3)		160			176			186			191			201			217
Allocable portion of interest on long-term contracts for purchased power(4)		1			1			1			1			1			1
Preferred and preference stock dividend requirement—pre-tax basis		66			76			75			78			34			13
Total fixed charges		1,014			1,015			1,067			1,106			1,045			1,217
Ratio		1.71			2.72			2.40			2.46			2.42			1.12

(1)

Interest expenses associated with income taxes are reflected as a component of income tax expense and are excluded from the determination of fixed charges.

(2)

Includes fixed charges associated with Nuclear Fuel and capitalized interest of fifty-percent owned partnership.

(3)

Rentals include the interest factor relating to certain significant rentals plus one-third of all remaining annual rentals, except for amounts allocated to power purchase contracts that are classified as operating leases.

(4)

Allocable portion of interest included in annual minimum debt service requirement of supplier.

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Exhibit 12