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EXHIBIT 12(B)
PUBLIC SERVICE ELECTRIC AND GAS COMPANY
COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES
PLUS PREFERRED STOCK DIVIDEND REQUIREMENTS
YEAR ENDED DECEMBER 31,
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1989 1990 1991 1992 1993
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(THOUSANDS OF DOLLARS)
Net Income........................... $ 544,374 $ 537,619 $ 545,479 $ 475,936 $ 614,868
Plus Income Taxes.................... 214,299 209,361 261,912 223,782 307,414
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Net Income Before Income Taxes....... 758,673 746,980 807,391 699,718 922,282
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Fixed Charges and Preferred Stock
Dividend Requirements:
Interest Charges................... 333,717 346,020 358,517 401,902 389,956
Interest Factor in Rentals......... 8,908 9,162 9,311 9,591 11,090
Preferred Stock Dividend
Requirements (Pre-tax).......... 40,236 40,116 42,703 46,675 56,957
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Total...................... 382,861 395,298 410,531 458,168 458,003
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Earnings Before Fixed Charges and
Preferred Stock Dividend........... $1,101,298 $1,102,162 $1,175,219 $1,111,211 $1,313,328
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Ratio................................ 2.88 2.79 2.86 2.43 2.89
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