EX-12.2 8 sempra-93016xex122.htm EXHIBIT 12.2 Exhibit


 
EXHIBIT 12.2
 
SAN DIEGO GAS & ELECTRIC COMPANY
 
COMPUTATION OF RATIO OF EARNINGS TO COMBINED FIXED CHARGES
 
AND PREFERRED STOCK DIVIDENDS
 
(Dollars in millions)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
2011
 
2012
 
2013
 
2014
 
2015
 
September 30,
2016
 
Fixed charges and preferred stock dividends:
 
 
 
 
 
 
 
 
 
 
 
 
Interest
$
193

 
$
220

 
$
231

 
$
238

 
$
241

 
$
178

 
Interest portion of annual rentals
1

 
1

 
1

 
1

 
1

 
1

 
Total fixed charges
194

 
221

 
232

 
239

 
242

 
179

 
Preferred stock dividends(1)
7

 
7

 
5

 
—

 
—

 
—

 
Combined fixed charges and preferred stock dividends for purpose of ratio
$
201

 
$
228

 
$
237

 
$
239

 
$
242

 
$
179

 
Earnings:
 
 
 
 
 
 
 
 
 
 
 
 
Pretax income from continuing operations
$
692

 
$
705

 
$
626

 
$
797

 
$
890

 
$
622

 
Add: Total fixed charges (from above)
194

 
221

 
232

 
239

 
242

 
179

 
Less: Interest capitalized
1

 
—

 
—

 
1

 
—

 
—

 
Total earnings for purpose of ratio
$
885


$
926


$
858


$
1,035


$
1,132


$
801

 
Ratio of earnings to combined fixed charges
 
 
 
 
 
 
 
 
 
 
 
 
     and preferred stock dividends
4.40

 
4.06

 
3.62

 
4.33

 
4.68

 
4.47

 
 
 
 
 
 
 
 
 
 
 
 
 
 
Ratio of earnings to fixed charges
4.56

 
4.19

 
3.70

 
4.33

 
4.68

 
4.47

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(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.