Southern California Gas Company PFD 6% (SOCGM) 10-Q2010 Q1 Quarterly report

Filed: 4 May 10, 12:00am

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EXHIBIT 12.4
SOUTHERN CALIFORNIA GAS COMPANY
COMPUTATION OF RATIO OF EARNINGS TO COMBINED FIXED CHARGES
AND PREFERRED STOCK DIVIDENDS
(Dollars in millions)

							March 31,
		2005	2006	2007	2008	2009	2010
Fixed Charges:
Interest		$ 50	$ 72	$ 72	$ 65	$ 74	$ 18
Interest portion of annual rentals		3	4	3	2	1	-
Total fixed charges		53	76	75	67	75	18
Preferred stock dividends (1)		2	2	2	2	2	1
Combined fixed charges and preferred stock dividends for purpose of ratio		$ 55	$ 78	$ 77	$ 69	$ 77	$ 19
Earnings:
Pretax income from continuing operations		$ 309	$ 397	$ 391	$ 385	$ 418	$121
Add: Total fixed charges (from above)		53	76	75	67	75	18
Less: Interest capitalized		-	1	1	-	1	-
Total earnings for purpose of ratio		$ 362	$ 472	$ 465	$ 452	$ 492	$ 139
Ratio of earnings to combined fixed charges and preferred stock dividends		6.58	6.05	6.04	6.55	6.39	7.32

Ratio of earnings to fixed charges		6.83	6.21	6.20	6.75	6.56	7.72

(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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