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Content analysis
?Positive | ||
Negative | ||
Uncertain | ||
Constraining | ||
Legalese | ||
Litigous | ||
Readability |
H.S. freshman Avg
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New words:
adapted, AFUDC, AGC, agenda, ambient, Ambiental, Atmospheric, aviation, background, BAL, basin, battery, BTG, Cachagua, campaign, candidate, capitalizable, CCC, CEB, CENACE, centrist, chain, clarification, cloud, Constructora, convened, Coordenadoria, CP, CSA, CT, Dakota, decease, decouple, Deeplight, disaggregated, discarded, disintegration, drop, dryer, DTA, DVA, ECL, element, ELG, emphasized, ERAV, escrow, ETR, expedited, FGD, fifteen, freed, Ganadera, GG, good, Guerra, gypsum, hour, household, HTA, IGS, Illumina, improperly, Imputation, intensify, interdependency, intraday, involuntary, irrigation, Kv, Lao, Lastly, lbs, learned, linkage, longstanding, LRSA, Mach, Macri, Mauricio, meantime, methane, mid, MMBtu, modest, MOIT, Moncagua, moral, Natsionalna, Nejapa, NOAA, nodal, normative, OCI, OCPL, OECD, onward, opacity, opposite, opposition, opted, overseen, Overview, Pactual, para, paragraph, parity, Petro, phenomena, phenomenon, philosophy, pilot, poorly, PPB, precise, preferential, presidential, pulverized, pumped, PVN, ramping, rationale, RCOA, Readjustment, rebutting, regain, renamed, renegotiation, robust, RSA, setback, SIAC, slowdown, SMP, Sogrinsk, solution, solvency, sooner, standing, stricter, strictly, subsidize, Subtopic, supercritical, till, tough, trial, TSO, Tymsa, Umbrella, unadjusted, unconstitutional, underground, UNFCCC, unfeasible, unpredictability, unsuccessful, untimely, USD, USNCR, versa, VII, wetland
Removed:
accessibility, adding, AEE, awaiting, balancing, BV, canceled, Cayuga, Chamber, chloride, commence, Commerce, Commonwealth, compressed, Constitution, consultation, contractor, deconsolidated, deconsolidation, deductible, denying, deployed, deployment, directed, disgorge, dispatching, Dong, eastern, EMEA, emerging, Eolienne, EOOD, Esti, evolved, exercisable, exhibit, explained, exporting, fee, Ferme, fewer, field, FIFO, fluoride, forced, formally, formed, Francisco, French, Greece, Greenidge, honoring, Hungary, hydrogen, importing, improving, innovent, integrity, intervention, IPP, Ironwood, Job, Kiev, KZT, MACT, marketing, mature, Mostazal, MountainView, municipality, Natsionala, nickel, NIE, Nigerian, Oak, outage, Patrick, percent, phased, PHCN, police, predetermined, preventing, purported, purportedly, rainy, Reauthorization, reinstated, renewed, replaced, Rivne, rulemaking, Saint, SAS, segregated, slightly, Somerset, structural, Subtitle, Superintendence, Task, Taxpayer, thirteen, Tisza, Warrior, western, Westover, wholly, wood, Yangcheng
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Exhibit 12
The AES Corporation and Subsidiaries
Statement Re: Calculation of Ratio of Earnings to Fixed Charges
(in millions, unaudited)
2015 | 2014 | 2013 | 2012 | 2011 | |||||||||||||||
Actual: | |||||||||||||||||||
Computation of earnings: | |||||||||||||||||||
Income from continuing operations before income taxes and equity in earnings of affiliates | $ | 1,122 | $ | 1,576 | $ | 1,048 | $ | 230 | $ | 2,260 | |||||||||
Fixed charges | 1,559 | 1,584 | 1,595 | 1,693 | 1,799 | ||||||||||||||
Amortization of capitalized interest | 19 | 21 | 20 | 18 | 9 | ||||||||||||||
Distributed income of equity investees | 16 | 28 | 2 | 5 | 25 | ||||||||||||||
Less: | |||||||||||||||||||
Capitalized interest | (97 | ) | (75 | ) | (58 | ) | (87 | ) | (152 | ) | |||||||||
Preference security dividend of consolidated subsidiary | (10 | ) | (5 | ) | (6 | ) | (6 | ) | (4 | ) | |||||||||
Noncontrolling interests in pretax income of subsidiaries that have not incurred fixed charges | (28 | ) | (26 | ) | (40 | ) | (4 | ) | (2 | ) | |||||||||
Earnings | $ | 2,581 | $ | 3,103 | $ | 2,561 | $ | 1,849 | $ | 3,935 | |||||||||
Fixed charges: | |||||||||||||||||||
Interest expense, debt premium and discount amortization | $ | 1,430 | $ | 1,485 | $ | 1,516 | $ | 1,581 | $ | 1,623 | |||||||||
Capitalized interest | 97 | 75 | 58 | 87 | 152 | ||||||||||||||
Preference security dividend of consolidated subsidiary | 10 | 5 | 6 | 6 | 4 | ||||||||||||||
Interest portion of rental expense (1) | 22 | 19 | 15 | 19 | 20 | ||||||||||||||
Fixed charges | $ | 1,559 | $ | 1,584 | $ | 1,595 | $ | 1,693 | $ | 1,799 | |||||||||
Ratio of earnings to fixed charges | 1.66 | 1.96 | 1.61 | 1.09 | 2.19 |
(1) Calculated as one-third of rental expense, which is deemed to be representative of the interest factor in rental expense.