EX-12 11 ex124.htm EXHIBIT 12.4 Exhibit 12.4



EXHIBIT 12.4

SOUTHERN CALIFORNIA GAS COMPANY

COMPUTATION OF RATIO OF EARNINGS TO COMBINED FIXED CHARGES

AND PREFERRED STOCK DIVIDENDS

(Dollars in millions)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2004

 

2005

 

2006

 

2007

 

2008

 

March 31, 2009

Fixed Charges:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest

 

 

 $           40

 

 $              50

 

 $              72

 

 $              72

 

 $              65

 

 $                18

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest portion of annual rentals

 

 

                2

 

                   3

 

                   4

 

                   3

 

                   2

 

                   -   

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total fixed charges

 

 

              42

 

                 53

 

                 76

 

                 75

 

                 67

 

                  18

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Preferred stock dividends (1)

 

 

                2

 

                   2

 

                   2

 

                   2

 

                   2

 

                    1

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Combined fixed charges and preferred stock dividends for purpose of ratio

 

 

 $           44

 

 $              55

 

 $              78

 

 $              77

 

 $              69

 

 $                19

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pretax income from continuing operations

 

 

 $         387

 

 $            309

 

 $            397

 

 $            391

 

 $            385

 

 $                95

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Add: Total fixed charges (from above)

 

 

              42

 

                 53

 

                 76

 

                 75

 

                 67

 

                  18

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Less: Interest capitalized

 

 

                -   

 

                   -   

 

                   1

 

                   1

 

                   -   

 

                   -   

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total earnings for purpose of ratio

 

 

 $         429

 

 $            362

 

 $            472

 

 $            465

 

 $            452

 

 $              113

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ratio of earnings to combined fixed charges and preferred stock dividends

 

 

           9.75

 

              6.58

 

              6.05

 

              6.04

 

              6.55

 

                5.95

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ratio of earnings to fixed charges

 

 

         10.21

 

              6.83

 

              6.21

 

              6.20

 

              6.75

 

                6.28

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(1)  In computing this ratio, “Preferred stock dividends” represents the before-tax earnings necessary to pay such dividends, computed at the effective tax rates for the applicable periods.