EX-12 7 scg123.htm EXHIBIT 12.3 SoCalGas Exhibit 12.3




 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

EXHIBIT 12.3

SOUTHERN CALIFORNIA GAS COMPANY

COMPUTATION OF RATIO OF EARNINGS TO COMBINED FIXED CHARGES

AND PREFERRED STOCK DIVIDENDS

(Dollars in millions)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

June 30,

 

 

 

2011

 

 

2012

 

 

2013

 

 

2014

 

 

2015

 

 

2016

Fixed charges and preferred stock dividends:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest

 

$

          77

 

$

          77

 

$

          76

 

$

          77

 

$

          96

 

$

             53

Interest portion of annual rentals

 

 

           1

 

 

           1

 

 

           1

 

 

           2

 

 

           1

 

 

               1

Total fixed charges

 

 

          78

 

 

          78

 

 

          77

 

 

          79

 

 

          97

 

 

             54

Preferred stock dividends (1)

 

 

           2

 

 

           2

 

 

           2

 

 

           2

 

 

           2

 

 

               1

Combined fixed charges and preferred stock dividends for purpose of ratio

 

$

          80

 

$

          80

 

$

          79

 

$

          81

 

$

          99

 

$

             55

Earnings:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pretax income from continuing operations

 

$

        431

 

$

        369

 

$

        481

 

$

        472

 

$

        558

 

$

           253

Add: Total fixed charges (from above)

 

 

          78

 

 

          78

 

 

          77

 

 

          79

 

 

          97

 

 

             54

Less: Interest capitalized

 

 

           1

 

 

           1

 

 

           1

 

 

           1

 

 

           1

 

 

               1

Total earnings for purpose of ratio

 

$

        508

 

$

        446

 

$

        557

 

$

        550

 

$

        654

 

$

           306

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ratio of earnings to combined fixed charges and preferred stock dividends

 

 

        6.35

 

 

        5.58

 

 

        7.05

 

 

        6.79

 

 

        6.61

 

 

            5.56

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ratio of earnings to fixed charges

 

 

       6.51

 

 

       5.72

 

 

       7.23

 

 

       6.96

 

 

       6.74

 

 

          5.67

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(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.