Exhibit 12
SOUTH JERSEY GAS COMPANY
Calculation of Ratio of Earnings from Continuing Operations to Fixed Charges
(IN THOUSANDS)
Fiscal Year Ended December 31,
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12 Months Ended
March 31, 2005 2004 2003 2002 2001 2000
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Net Income* $33,320 $31,462 $26,608 $23,222 $21,527 $21,855
Income Taxes, Net 24,411 22,969 19,619 17,372 15,693 16,703
Fixed Charges** 18,890 18,639 19,868 20,972 23,409 24,255
Capitalized Interest (864) (733) (564) (359) (221) (24)
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Total Available for Coverage $75,757 $72,337 $65,531 $61,207 $60,408 $62,789
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Total Available 4.0x 3.9x 3.3x 2.9x 2.6x 2.6x
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Fixed Charges
<FN>
* Net Income before Discontinued Operations
** Fixed charges consist of interest charges and preferred
dividend requirement amounting to $135,000 for the 12 months ended
March 31, 2005, and fiscal years ended 2004, 2003 and 2002;
$139,000 in 2001 and $151,000 in 2000 (rentals are not material).
</FN>