EX-12 4 ex12-1.txt EXHIBIT 12.1 EXHIBIT 12.1 PUBLIC SERVICE ELECTRIC AND GAS COMPANY COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES
For the Three Months Ended For the Years Ended March 31, December 31, ------------------------------------------------------ 2006 2005 2005 2004 2003 2002 2001 ------------------------------------------------------ (Millions, except ratios) Earnings as Defined in Regulation S-K (A): Pre-tax Income from Continuing Operations $143 $204 $583 $592 $376 $320 $324 Fixed Charges 85 84 342 362 390 408 461 ------------------------------------------------------ Earnings $228 $288 $925 $954 $766 $728 $785 ====================================================== Fixed Charges as Defined in Regulation S-K (B) Interest Expense $85 $84 $342 $362 $390 $406 $458 Interest Factor in Rentals -- -- -- -- -- 2 3 ------------------------------------------------------ Total Fixed Charges $85 $84 $342 $362 $390 $408 $461 ====================================================== Ratio of Earnings to Fixed Charges 2.68 3.43 2.70 2.64 1.96 1.78 1.70 ======================================================
(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.