Exhibit 12(a)
SOUTH JERSEY GAS COMPANY
Calculation of Ratio of Earnings To Fixed Charges
(In Thousands)
Fiscal Year Ended December 31,
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1999 1998 1997 1996 1995
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Net Income* $23,466 $17,910 $22,000 $19,389 $15,991
Income Taxes, Net 15,455 12,256 11,559 10,627 9,278
Fixed Charges** 20,949 19,235 18,103 19,574 19,545
Capitalized Interest (390) (167) (107) (114) (98)
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Total Available for Coverage $59,480 $49,234 $51,555 $49,476 $44,716
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Total Available 2.8x 2.6x 2.9x 2.5x 2.3x
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Fixed Charges
<FN>
* Net Income before Dividends on Preferred Securities and a
Cumulative Effect of a Change in Accounting Principle.
** Fixed charges consist of interest charges (rentals are
not material).
</FN>
Exhibit 12(b)
SOUTH JERSEY GAS COMPANY
Calculation of Ratio of Earnings To Fixed Charges
Plus Preferred Security Dividend Requirements
(In Thousands)
Fiscal Year Ended December 31,
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1999 1998 1997 1996 1995
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Net Income $20,382 $14,822 $19,898 $19,215 $15,813
Income Taxes, Net 15,455 12,256 11,559 10,627 9,278
Fixed Charges* 20,949 19,235 18,103 19,574 19,545
Preferred Securities - Dividends 3,084 3,088 2,102 174 178
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Sub-Total 24,033 22,323 20,205 19,748 19,723
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Capitalized Interest (390) (167) (107) (114) (98)
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Total Available for Coverage $59,480 $49,234 $51,555 $49,476 $44,716
=======================================================
Total Available 2.5x 2.2x 2.6x 2.5x 2.3x
- -------------------------
Fixed Charges
<FN>
* Fixed charges consist of interest charges (rentals are not material).
</FN>