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- 10-K Annual report
- 10.31 Description of Short-term Incentive Plan for Officers
- 12.1 Computation of Ratio of Earnings to Fixed Charges for Pacific Gas and Electric
- 12.2 Computation of Ratios of Earnings to Combined Fixed Charges and Preferred Stock
- 12.3 Computation of Ratios of Earnings to Fixed Charges for Pg&e Corporation
- 13 Annual Report
- 21 Subsidiaries of the Registrant
- 23 Consent of Indendent Registered Public Accounting Firm
- 24.1 Resolutions of the Boards of Directors Authorizing the Execution of the Form 10K
- 24.2 Powers of Attorney
- 31.1 Certifications of the CEO and CFO of Pg&e Corporation
- 31.2 Certifications of the CEO and CFO of the Pacific Gas and Electric Company
- 32.1 Certifications of the CEO and CFO of the Pg&e Corporation
- 32.2 Certifications of the CEO and CFO of the Pacific Gas and Electric Company
EXHIBIT 12.1
PACIFIC GAS AND ELECTRIC COMPANY
COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES
Year ended December 31, | ||||||||||||||||||||
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2011 | 2010 | 2009 | 2008 | 2007 | ||||||||||||||||
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Earnings: | ||||||||||||||||||||
Net income | $ 845 | $ 1,121 | $ 1,250 | $ 1,199 | $ 1,024 | |||||||||||||||
Income taxes provision | 480 | 574 | 482 | 488 | 571 | |||||||||||||||
Net fixed charges | 880 | 799 | 817 | 860 | 889 | |||||||||||||||
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Total Earnings | $ 2,205 | $ 2,494 | $ 2,549 | $ 2,547 | $ 2,484 | |||||||||||||||
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Fixed Charges: | ||||||||||||||||||||
Interest on short-term borrowings and long-term debt, net | $ 824 | $ 731 | $ 754 | $ 794 | $ 834 | |||||||||||||||
Interest on capital leases | 16 | 18 | 19 | 22 | 23 | |||||||||||||||
AFUDC debt | 40 | 50 | 44 | 44 | 32 | |||||||||||||||
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Total Fixed Charges | $ 880 | $ 799 | $ 817 | $ 860 | $ 889 | |||||||||||||||
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Ratios of Earnings to Fixed Charges | 2.51 | 3.12 | 3.12 | 2.96 | 2.79 | |||||||||||||||
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Note:
For the purpose of computing Pacific Gas and Electric Company’s ratios of earnings to fixed charges, “earnings” represent net income adjusted for the income or loss from equity investees of less than 100% owned affiliates, equity in undistributed income or losses of less than 50% owned affiliates, income taxes and fixed charges (excluding capitalized interest). “Fixed charges” include interest on long-term debt and short-term borrowings (including a representative portion of rental expense), amortization of bond premium, discount and expense, interest on capital leases, AFUDC debt, and earnings required to cover the preferred stock dividend requirements. Fixed charges exclude interest on tax liabilities.