EX-12.2 4 dex122.htm COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES Computation of Ratios of Earnings to Fixed Charges

EXHIBIT 12.2

PUBLIC SERVICE ELECTRIC AND GAS COMPANY

COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES

 

 

    For the Three
Months Ended
March 31,
  For the Years Ended December 31,
   

2010

 

2009

 

2009

 

2008

 

2007

 

2006

 

2005

    (Millions, except ratios)

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

             

Pre-tax Income from Continuing Operations

    198     209   $ 551   $ 592   $ 637   $ 448   $ 583

Fixed Charges

    77     79     312     325     332     346     342
                                         

Total Earnings

  $ 275   $ 288   $ 863   $ 917   $ 969   $ 794   $ 925
                                         

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

             

Interest Expense

    77     79   $ 312   $ 325   $ 332   $ 346   $ 342
                                         

Total Fixed Charges

    $77   $ 79   $ 312   $ 325   $ 332   $ 346   $ 342
                                         

Ratio of Earnings to Fixed Charges

    3.57     3.65     2.77     2.82     2.92     2.29     2.70
                                         

 

(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.