EX-12.1 9 ex_12-1.txt EXHIBIT 12.1 PUBLIC SERVICE ELECTRIC AND GAS COMPANY COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES
FOR THE THREE MONTHS FOR THE YEARS ENDED ENDED MARCH 31, DECEMBER 31, -------------------------------------------------------------------------------- 2007 2006 2006 2005 2004 2003 2002 -------------------------------------------------------------------------------- (MILLIONS, EXCEPT RATIOS) Earnings as Defined in Regulation S-K (A): Pre-tax Income from Continuing Operations $ 231 $ 143 $ 448 $ 583 $ 592 $ 376 $ 320 Fixed Charges 81 85 346 342 362 390 408 -------------------------------------------------------------------------------- Earnings $ 312 $ 228 $ 794 $ 925 $ 954 $ 766 $ 728 ================================================================================ Fixed Charges as Defined in Regulation S-K (B) Interest Expense $ 81 $ 85 $ 346 $ 342 $ 362 $ 390 $ 406 Interest Factor in Rentals - - - - - - 2 -------------------------------------------------------------------------------- Total Fixed Charges $ 81 $ 85 $ 346 $ 342 $ 362 $ 390 $ 408 ================================================================================ Ratio of Earnings to Fixed Charges 3.85 2.68 2.29 2.70 2.64 1.96 1.78 ================================================================================
(A) The term "earnings" shall be defined as pretax income from continuing operations. Add to pretax income the amount of fixed charges adjusted to exclude the amount of any interest capitalized during the period. (B) Fixed Charges represent (a) interest, whether expensed or capitalized, (b) amortization of debt discount, premium and expense and (c) an estimate of interest implicit in rentals.