SCHEDULE 12.1
SOUTHERN CALIFORNIA GAS COMPANY
COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES
ACTUAL
YEAR ENDED DECEMBER 31,
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1989 1990 1991 1992 1993
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Earnings Before Fixed Charges and Taxes
Based on Income:
Net Income............................... $ 180,903 $ 177,744 $ 211,792 $ 194,716 $ 193,676
Add:
Fixed Charges........................ 108,872 117,026 112,867 116,504 116,890
Income taxes charged to operations... 138,618 156,191 146,442 164,487 134,491
Income taxes on nonoperating
income.............................. 1,806 (4,628) 12,841 (572) (5,670)
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Earnings before fixed charges and
taxes based on income............. $ 430,199 $ 446,333 $ 483,942 $ 475,135 $ 439,387
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Fixed Charges:
Interest and amortization................ $ 100,015 $ 108,655 $ 105,112 $ 105,509 $ 104,986
Rental expense approximating interest
charges included in operating
expenses................................ 8,857 8,371 7,755 10,995 11,904
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Total actual fixed charges............. $ 108,872 $ 117,026 $ 112,867 $ 116,504 $ 116,890
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Ratio of Earnings to Fixed Charges......... 3.95 3.81 4.29 4.08 3.76
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S-1
SOUTHERN CALIFORNIA GAS COMPANY
COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES
ACTUAL EXCLUDING INTEREST RELATED TO SUPPLIER REFUNDS AND
REGULATORY ACCOUNTS*
YEAR ENDED DECEMBER 31,
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1989 1990 1991 1992 1993
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Earnings Before Fixed Charges and Taxes Based on
Income.............................................. $ 430,199 $ 446,333 $ 483,942 $ 475,135 $ 439,387
Adjustment for interest related to supplier refunds
and regulatory accounts............................. (12,229) (5,271) (5,760) (3,018) (2,678)
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Earnings before adjusted fixed charges and taxes
based on income................................... $ 417,970 $ 441,062 $ 478,182 $ 472,117 $ 436,709
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Fixed Charges........................................ $ 108,872 $ 117,026 $ 112,867 $ 116,504 $ 116,890
Adjustment for interest related to supplier refunds
and regulatory accounts............................. (12,229) (5,271) (5,760) (3,018) (2,678)
Adjusted fixed charges............................. $ 96,643 $ 111,755 $ 107,107 $ 113,486 $ 114,212
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Ratio of Earnings to Fixed Charges Adjusted for
Supplier Refunds and Regulatory Accounts............ 4.32 3.95 4.46 4.16 3.82
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<FN>
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*The ratios of earnings to fixed charges are influenced by the accrual of
interest expense relating to supplier refunds payable to customers and
regulatory accounts. Ratios which exclude interest related to supplier refunds
and regulatory accounts are calculated as shown in the preceding computation,
but exclude from fixed charges related interest expense during the relevant
period to the extent of related interest income.
S-2