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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1998 1997 1996 1995 1994
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Net Income* $17,911 $22,000 $19,389 $15,991 $11,200
Income Taxes, Net 12,256 11,559 10,627 9,278 5,881
Fixed Charges** 19,234 18,103 19,574 19,545 14,648
Capitalized Interest (167) (107) (114) (98) (120)
--------------------------------------------------
Total Available for Coverage $49,234 $51,555 $49,476 $44,716 $31,609
==================================================
Total Available
- ------------------------------ 2.6x 2.9x 2.5x 2.3x 2.2x
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,
--------------------------------------------------
1998 1997 1996 1995 1994
--------------------------------------------------
Net Income $14,822 $19,898 $19,215 $15,813 $11,017
Income Taxes, Net 12,256 11,559 10,627 9,278 5,881
Fixed Charges* 19,234 18,103 19,574 19,545 14,648
Preferred Securities - Dividends 3,089 2,102 174 178 183
--------------------------------------------------
Sub-Total 22,323 20,205 19,748 19,723 14,831
--------------------------------------------------
Capitalized Interest (167) (107) (114) (98) (120)
--------------------------------------------------
Total Available for Coverage $49,234 $51,555 $49,476 $44,716 $31,609
==================================================
Total Available
- ----------------------------------- 2.2x 2.6x 2.5x 2.3x 2.1x
Fixed Charges
<FN>
* Fixed charges consist of interest charges (rentals are not material).
</FN>