EXHIBIT 12.1 | |||||||||||||
PACIFIC ENTERPRISES | |||||||||||||
COMPUTATION OF RATIO OF EARNINGS TO COMBINED FIXED CHARGES | |||||||||||||
|
|
| AND PREFERRED STOCK DIVIDENDS |
|
|
|
|
|
| ||||
(Dollars in millions) | |||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Nine months |
|
|
|
|
|
|
|
|
|
|
|
|
| ended |
|
|
| 2001 |
| 2002 |
| 2003 |
| 2004 |
| 2005 |
| September 30, 2006 |
Fixed Charges: | |||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest | $88 |
| $63 |
| $54 |
| $47 |
| $55 |
| $59 | ||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest portion of annual rentals | 3 |
| 2 |
| 2 |
| 2 |
| 3 |
| 3 | ||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Preferred dividends of subsidiary | 2 |
| 2 |
| 2 |
| 2 |
| 2 |
| 2 | ||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total fixed charges | 93 |
| 67 |
| 58 |
| 51 |
| 60 |
| 64 | ||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Preferred stock dividends | 7 |
| 7 |
| 7 |
| 7 |
| 6 |
| 5 | ||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Combined fixed charges and preferred | |||||||||||||
stock dividends for purpose of ratio | $100 |
| $74 |
| $65 |
| $58 |
| $66 |
| $69 | ||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Earnings: | |||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Pretax income from continuing operations | $377 |
| $383 |
| $361 |
| $390 |
| $324 |
| $330 | ||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total fixed charges (from above) | 93 |
| 67 |
| 58 |
| 51 |
| 60 |
| 64 | ||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Less: interest capitalized | - |
| - |
| - |
| - |
| - |
| 1 | ||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total earnings for purpose of ratio | $470 |
| $450 |
| $419 |
| $441 |
| $384 |
| $393 | ||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Ratio of earnings to combined fixed | |||||||||||||
charges and preferred stock dividends | 4.70 |
| 6.08 |
| 6.45 |
| 7.60 |
| 5.82 |
| 5.70 | ||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Ratio of earnings to fixed charges | 5.05 |
| 6.72 |
| 7.22 |
| 8.65 |
| 6.40 |
| 6.14 | ||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(1) In computing this ratio, "Preferred dividends of subsidiary" represents the before-tax earnings necessary to pay such dividends, | |||||||||||||
computed at the effective tax rates for the applicable periods. |
|
- Company Dashboard
- Filings
-
10-Q Filing
Pacific Enterprises Inactive 10-Q2006 Q3 Quarterly report
Filed: 2 Nov 06, 12:00am