EXHIBIT 12.2 | ||||||||||||
SOUTHERN CALIFORNIA GAS COMPANY | ||||||||||||
COMPUTATION OF RATIO OF EARNINGS TO COMBINED FIXED CHARGES | ||||||||||||
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| AND PREFERRED STOCK DIVIDENDS |
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(Dollars in millions) | ||||||||||||
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| Nine months |
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| ended |
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| 2001 |
| 2002 |
| 2003 |
| 2004 |
| 2005 |
| September 30, 2006 |
Fixed Charges: | ||||||||||||
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Interest | $70 |
| $47 |
| $48 |
| $40 |
| $50 |
| $55 | |
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Interest portion of annual rentals | 3 |
| 2 |
| 2 |
| 2 |
| 3 |
| 3 | |
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Total fixed charges | 73 |
| 49 |
| 50 |
| 42 |
| 53 |
| 58 | |
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Preferred stock dividends (1) | 2 |
| 2 |
| 2 |
| 2 |
| 2 |
| 2 | |
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Combined fixed charges and preferred stock | ||||||||||||
dividends for purpose of ratio | $75 |
| $51 |
| $52 |
| $44 |
| $55 |
| $60 | |
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Earnings: | ||||||||||||
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Pretax income from continuing operations | 377 |
| 391 |
| 360 |
| 387 |
| 309 |
| 308 | |
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Add: total fixed charges (from above) | 73 |
| 49 |
| 50 |
| 42 |
| 53 |
| 58 | |
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Less: Interest Capitalized | - |
| - |
| - |
| - |
| - |
| - | |
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Less: interest capitalized | - |
| - |
| - |
| - |
| - |
| 1 | |
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Total earnings for purpose of ratio | $450 |
| $440 |
| $410 |
| $429 |
| $362 |
| $365 | |
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Ratio of earnings to combined fixed charges | ||||||||||||
and preferred stock dividends | 6.00 |
| 8.63 |
| 7.88 |
| 9.75 |
| 6.58 |
| 6.08 | |
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Ratio of earnings to fixed charges | 6.16 |
| 8.98 |
| 8.20 |
| 10.21 |
| 6.83 |
| 6.29 | |
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(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. |
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Southern California Gas Company PFD 6% (SOCGM)
Filed: 2 Nov 06, 12:00am