EXHIBIT 12.1 |
| |||||||||||||||
SAN DIEGO GAS & ELECTRIC COMPANY |
| |||||||||||||||
COMPUTATION OF RATIO OF EARNINGS TO COMBINED FIXED CHARGES |
| |||||||||||||||
AND PREFERRED STOCK DIVIDENDS |
| |||||||||||||||
(Dollars in millions) |
| |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| March 31, |
|
|
|
|
|
| 2003 |
| 2004 |
| 2005 |
| 2006 |
| 2007 |
| 2008 |
|
Fixed Charges and Preferred Stock Dividends: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest |
|
|
|
| $ 78 |
| $ 71 |
| $ 77 |
| $ 102 |
| $ 105 |
| $ 29 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest portion of annual rentals |
|
| 2 |
| 2 |
| 3 |
| 3 |
| 3 |
| - |
| ||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total fixed charges |
|
|
|
| 80 |
| 73 |
| 80 |
| 105 |
| 108 |
| 29 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Preferred stock dividends (1) |
|
|
| 9 |
| 8 |
| 6 |
| 8 |
| 7 |
| 2 |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Combined fixed charges and preferred stock dividends for purpose of ratio |
|
| $ 89 |
| $ 81 |
| $ 86 |
| $ 113 |
| $ 115 |
| $ 31 |
| ||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Earnings: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Pretax income from continuing operations |
|
| $ 488 |
| $ 361 |
| $ 356 |
| $ 394 |
| $ 423 |
| $ 107 |
| ||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total fixed charges (from above) |
|
| 80 |
| 73 |
| 80 |
| 105 |
| 108 |
| 29 |
| ||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Less: Minority interest |
|
|
| - |
| - |
| - |
| - |
| 17 |
| - |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Less: interest capitalized |
|
|
| 1 |
| 1 |
| 1 |
| 1 |
| 3 |
| 2 |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total earnings for purpose of ratio |
|
| $ 567 |
| $ 433 |
| $ 435 |
| $ 498 |
| $ 511 |
| $ 134 |
| ||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Ratio of earnings to combined fixed charges and preferred stock dividends |
|
| 6.37 |
| 5.35 |
| 5.06 |
| 4.41 |
| 4.44 |
| 4.32 |
| ||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Ratio of earnings to fixed charges |
|
| 7.09 |
| 5.93 |
| 5.44 |
| 4.74 |
| 4.73 |
| 4.62 |
| ||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(1) In computing this ratio, “Preferred stock dividends” represents the before-tax earnings necessary to pay such dividends, computed at the effective tax rates for the applicable periods. |
|
- Company Dashboard
- Financials
- Filings
- Transcripts
- Patents
-
10-Q Filing
San Diego Gas & Electric 10-Q2008 Q1 Quarterly report
Filed: 2 May 08, 12:00am