EX-12.4 6 exhibit_12-4.htm

EXHIBIT 12.4

PSEG ENERGY HOLDINGS L.L.C.
COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

For the Six
Months Ended
June 30,

 

For the Years Ended
December 31,

 

 

 

 

 

2007

 

2006

 

2006

 

2005

 

2004

 

2003

 

2002

 

 

 

Earnings as Defined in Regulation S-K (A):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pre-tax (Loss) Income from Continuing Operations

 

$

90

 

$

(135

)

$

(11

)

$

251

 

$

185

 

$

227

 

$

(389

)

Loss/(Income) from Equity Investees, Net of Distributions

 

 

25

 

 

(31

)

 

(37

)

 

(27

)

 

78

 

 

59

 

 

(3

)

Fixed Charges

 

 

81

 

 

98

 

 

199

 

 

208

 

 

216

 

 

210

 

 

215

 

Capitalized Interest

 

 

—

 

 

—

 

 

(1

)

 

(1

)

 

(2

)

 

(11

)

 

(13

)

 

 

Total Earnings

 

$

196

 

$

(68

)

$

150

 

$

431

 

$

477

 

$

485

 

$

(190

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed Charges as Defined in Regulation
S-K (B)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest Expense

 

$

81

 

$

97

 

$

197

 

$

206

 

$

215

 

$

209

 

$

213

 

Interest Factor in Rentals

 

 

—

 

 

1

 

 

2

 

 

2

 

 

1

 

 

1

 

 

2

 

 

 

Total Fixed Charges

 

$

81

 

$

98

 

$

199

 

$

208

 

$

216

 

$

210

 

$

215

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ratio of Earnings to Fixed Charges (C)

 

 

2.42

 

 

(0.69

)

 

0.75

 

 

2.07

 

 

2.21

 

 

2.31

 

 

(0.88

)

 

 

 

 

(A)

The term “earnings” is defined as pre-tax income from continuing operations before income or loss from equity investees plus distributed income from equity investees. Add to pre-tax 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 (c) an estimate of interest implicit in rentals.

 

 

(C)

The ratio of earnings to fixed charges for the six months ended June 30, 2006 was (0.69), as noted above, which represents a deficiency of $166 million. The ratio of earnings to fixed charges for the year ended December 31, 2002 was (0.88), as noted above, which represents a deficiency of $405 million.