Exhibit 12
SOUTH JERSEY INDUSTRIES, INC.
Calculation of Ratio of Earnings from Continuing Operations to
Fixed Charges (Before Income Taxes)
(IN THOUSANDS)
Fiscal Year Ended December 31,
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2001 2000 1999 1998 1997
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Net Income* $26,869 $24,741 $21,962 $13,506 $18,460
Income Taxes 19,295 18,711 16,418 11,703 10,761
Fixed Charges** 24,101 24,392 24,300 22,436 20,320
Capitalized Interest (500) (26) (390) (167) (107)
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Total Available $69,765 $67,818 $62,290 $47,478 $49,434
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Total Available 2.9x 2.8x 2.6x 2.1x 2.4x
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Fixed Charges
<FN>
* Net Income before Discontinued Operations.
** Includes interest and preferred securities dividend requirements of a
subsidiary.
</FN>