Exhibit 12.5
Commonwealth Edison Company
Ratio of Earnings to Fixed Charges
2007 | 2008 | 2009 | 2010 | 2011 | For the three months ended March 31, 2012 | |||||||||||||||||||
Pre-tax income from continuing operations | 245 | 329 | 602 | 693 | 666 | 148 | ||||||||||||||||||
Plus: Loss from equity investees | 7 | 9 | — | — | — | — | ||||||||||||||||||
Less: Capitalized interest | (13 | ) | 3 | (3 | ) | (2 | ) | (4 | ) | (1 | ) | |||||||||||||
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Pre-tax income from continuing operations after adjustment for income or loss from equity investees and capitalized interest | 239 | 341 | 599 | 691 | 662 | 147 | ||||||||||||||||||
Fixed charges: | ||||||||||||||||||||||||
Interest expensed and capitalized, amortization of debt discount and premium on all indebtedness (a) | 308 | 323 | 301 | 368 | 330 | 78 | ||||||||||||||||||
Interest component of rental expense (b) | 8 | 8 | 7 | 6 | 6 | 2 | ||||||||||||||||||
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Total fixed charges | 316 | 331 | 308 | 374 | 336 | 80 | ||||||||||||||||||
Pre-tax income from continuing operations after adjustment for loss from equity investees plus fixed charges | 555 | 672 | 907 | 1,065 | 998 | 227 | ||||||||||||||||||
Ratio of earnings to fixed charges | 1.8 | 2.0 | 2.9 | 2.8 | 3.0 | 2.8 |
(a) | Includes interest expense of $0 for the quarter ended March 31, 2012, and $0, $63 million, $0, $0 and $0 for the years ended December 31, 2011, 2010, 2009, 2008 and 2007, respectively, related to uncertain income tax positions. |
(b) | Represents one-third of rental expense relating to operating leases, which is a reasonable approximation of the interest factor. |