EXHIBIT 12.1 | |||||||||||||||
SAN DIEGO GAS & ELECTRIC COMPANY | |||||||||||||||
COMPUTATION OF RATIO OF EARNINGS TO COMBINED FIXED CHARGES | |||||||||||||||
AND PREFERRED STOCK DIVIDENDS | |||||||||||||||
(Dollars in millions) | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| September 30, |
|
|
|
|
| 2003 |
| 2004 |
| 2005 |
| 2006 |
| 2007 |
| 2008 |
Fixed Charges and Preferred Stock Dividends: |
|
|
|
|
|
|
|
|
|
|
|
| |||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest |
| $ 78 |
| $ 71 |
| $ 77 |
| $ 102 |
| $ 105 |
| $ 81 | |||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest portion of annual rentals |
| 2 |
| 2 |
| 3 |
| 3 |
| 3 |
| 1 | |||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total fixed charges |
| 80 |
| 73 |
| 80 |
| 105 |
| 108 |
| 82 | |||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Preferred stock dividends (1) |
| 9 |
| 8 |
| 6 |
| 8 |
| 7 |
| 5 | |||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Combined fixed charges and preferred stock dividends for purpose of ratio |
| $ 89 |
| $ 81 |
| $ 86 |
| $ 113 |
| $ 115 |
| $ 87 | |||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| &n bsp; |
|
|
|
|
|
|
Earnings: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Pretax income from continuing operations |
| $ 488 |
| $ 361 |
| $ 356 |
| $ 394 |
| $ 423 |
| $ 383 | |||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total fixed charges (from above) |
| 80 |
| 73 |
| 80 |
| 105 |
| 108 |
| 82 | |||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Less: Minority interest |
| - |
| - |
| - |
| - |
| 17 |
| (8) | |||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Less: interest capitalized |
| 1 |
| 1 |
| 1 |
| 1 |
| 3 |
| 8 | |||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total earnings for purpose of ratio |
| $ 567 |
| $ 433 |
| $ 435 |
| $ 498 |
| $ 511 |
| $ 465 | |||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Ratio of earnings to combined fixed charges and preferred stock dividends |
| 6.37 |
| 5.35 |
| 5.06 |
| 4.41 |
| 4.44 |
| 5.34 | |||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Ratio of earnings to fixed charges |
| 7.09 |
| 5.93 |
| 5.44 |
| 4.74 |
| 4.73 |
| 5.67 | |||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(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 Q3 Quarterly report
Filed: 10 Nov 08, 12:00am