EX-12.1 4 dex121.txt COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES EXHIBIT 12.1 SOUTHERN CALIFORNIA GAS COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES (Dollars in millions)
For the For the six months six months ended ended June 30, June 30, 1996 1997 1998 1999 2000 2000 2001 ---- ---- ---- ---- ---- ---- ---- Fixed Charges: Interest $ 88 $ 88 $ 81 $ 62 $ 72 $ 37 $ 35 Interest Portion of Annual Rentals 5 5 4 3 4 2 2 ------ ----- ----- ----- ----- ----- ----- Total Fixed Charges For Purpose of Ratio $ 93 $ 93 $ 85 $ 65 $ 76 $ 39 $ 37 ====== ===== ===== ===== ===== ===== ===== Earnings: Pretax income from continuing operations $ 349 $ 416 $ 287 $ 383 $ 390 $ 188 $ 185 ------ ----- ------ ----- ----- ----- ----- Add: Fixed charges (from above) 93 93 85 65 76 39 37 Less: Fixed charges capitalized 2 1 1 2 2 1 1 ------ ----- ------ ----- ----- ----- ----- Fixed charges net of capitalized charges 91 92 84 63 74 38 36 ------ ----- ------ ----- ----- ----- ----- Total Earnings for Purpose of Ratio $ 440 $ 508 $ 371 $ 446 $ 464 $ 226 $ 221 ====== ===== ===== ===== ===== ===== ===== Ratio of Earnings to Fixed Charges 4.73 5.46 4.36 6.86 6.11 5.79 5.97 ====== ===== ===== ===== ===== ===== =====