Southern California Gas Company PFD 6% (SOCGM) 10-Q 2016 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,
			2011		2012		2013		2014		2015		2016
Fixed charges and preferred stock dividends:
Interest		$	193	$	220	$	231	$	238	$	241	$	118
Interest portion of annual rentals			1		1		1		1		1		-
Total fixed charges			194		221		232		239		242		118
Preferred stock dividends (1)			7		7		5		-		-		-
Combined fixed charges and preferred stock dividends for purpose of ratio		$	201	$	228	$	237	$	239	$	242	$	118
Earnings:
Pretax income from continuing operations		$	692	$	705	$	626	$	797	$	890	$	337
Add: Total fixed charges (from above)			194		221		232		239		242		118
Less: Interest capitalized			1		-		-		1		-		-
Total earnings for purpose of ratio		$	885	$	926	$	858	$	1,035	$	1,132	$	455
Ratio of earnings to combined fixed charges and preferred stock dividends			4.40		4.06		3.62		4.33		4.68		3.86
Ratio of earnings to fixed charges			4.56		4.19		3.70		4.33		4.68		3.86
(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.