Southern California Gas Company PFD 6% (SOCGM) 10-Q 2004 Q2 Quarterly report

EXHIBIT 12.1
PACIFIC ENTERPRISES
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(Dollars in millions)
						Six months ended
	1999	2000	2001	2002	2003	June 30, 2004
Fixed Charges:
Interest	$ 82	$ 72	$ 88	$ 63	$ 54	$ 24
Interest portion of annual rentals	3	4	3	2	2	1
Preferred dividends of subsidiaries (1)	2	2	2	2	2	2
Total fixed charges for purpose of ratio	$ 87	$ 78	$ 93	$ 67	$ 58	$ 27
Earnings:
Pretax income from continuing operations	$ 350	$ 396	$ 377	$ 383	$ 361	$ 189
Total fixed charges (from above)	87	78	93	67	58	27
Total earnings for purpose of ratio	$ 437	$ 474	$ 470	$ 450	$ 419	$ 216
Ratio of earnings to fixed charges	5.02	6.08	5.05	6.72	7.22	8.00
(1) In computing this ratio, "Preferred dividends of subsidiaries" represents the before-tax earnings necessary to pay such dividends,
computed at the effective tax rates for the applicable periods.