EX-12 5 sjgexhibit12.txt CALCULATION OF EARNINGS TO FIXED CHARGES Exhibit 12 SOUTH JERSEY GAS COMPANY Calculation of Ratio of Earnings from Continuing Operations to Fixed Charges (IN THOUSANDS)
Fiscal Year Ended December 31, ------------------------------------------------------------------ 12 Months Ended March 31, 2005 2004 2003 2002 2001 2000 -------------- ------------------------------------------------------------------ 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) ------------- ----------------------------------------------------------------- Total Available for Coverage $75,757 $72,337 $65,531 $61,207 $60,408 $62,789 ============== ================================================================= Total Available 4.0x 3.9x 3.3x 2.9x 2.6x 2.6x --------------------- Fixed Charges * 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).