Southern California Gas Company PFD 6% (SOCGM) 10-Q 2015 Q2 Quarterly report

EXHIBIT 12.2
SAN DIEGO GAS & ELECTRIC COMPANY
COMPUTATION OF RATIO OF EARNINGS TO COMBINED FIXED CHARGES
AND PREFERRED STOCK DIVIDENDS
(Dollars in millions)
													June 30,
			2010		2011		2012		2013		2014		2015
Fixed charges and preferred
stock dividends:
Interest		$	153	$	193	$	220	$	231	$	238	$	122
Interest portion of annual rentals			1		1		1		1		1		-
Total fixed charges			154		194		221		232		239		122
Preferred stock dividends (1)			7		7		7		5		-		-
Combined fixed charges and preferred stock dividends for purpose of ratio		$	161	$	201	$	228	$	237	$	239	$	122
Earnings:
Pretax income from continuing operations		$	531	$	692	$	705	$	626	$	797	$	423
Add: Total fixed charges (from above)			154		194		221		232		239		122
Less: Interest capitalized			1		1		-		-		1		-
Total earnings for purpose of ratio		$	684	$	885	$	926	$	858	$	1,035	$	545
Ratio of earnings to combined fixed charges and preferred stock dividends			4.25		4.40		4.06		3.62		4.33		4.47
Ratio of earnings to fixed charges			4.44		4.56		4.19		3.70		4.33		4.47
(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.