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SOUTHERN CALIFORNIA GAS COMPANY |
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COMPUTATION OF RATIO OF EARNINGS TO COMBINED FIXED CHARGES |
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AND PREFERRED STOCK DIVIDENDS |
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(Dollars in millions) |
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March 31, | |
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2011 |
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2012 |
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2013 |
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2014 |
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2015 |
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2016 | |
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Fixed charges and preferred stock dividends: |
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Interest |
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$ |
77 |
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$ |
77 |
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$ |
76 |
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$ |
77 |
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$ |
96 |
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$ |
26 | |
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Interest portion of annual rentals |
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1 |
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1 |
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1 |
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2 |
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1 |
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- | |
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Total fixed charges |
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78 |
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78 |
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77 |
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79 |
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97 |
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26 | |
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Preferred stock dividends (1) |
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2 |
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2 |
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2 |
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2 |
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2 |
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Combined fixed charges and preferred |
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stock dividends for purpose of ratio |
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$ |
80 |
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$ |
80 |
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$ |
79 |
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$ |
81 |
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$ |
99 |
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$ |
26 | |
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Earnings: |
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Pretax income from continuing operations |
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$ |
431 |
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$ |
369 |
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$ |
481 |
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$ |
472 |
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$ |
558 |
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$ |
282 | |
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Add: Total fixed charges (from above) |
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78 |
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78 |
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77 |
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79 |
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97 |
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26 | |
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Less: Interest capitalized |
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1 |
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1 |
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1 |
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1 |
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1 |
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Total earnings for purpose of ratio |
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$ |
508 |
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$ |
446 |
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$ |
557 |
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$ |
550 |
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$ |
654 |
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$ |
308 | |
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Ratio of earnings to combined fixed |
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charges and preferred stock dividends |
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6.35 |
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5.58 |
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7.05 |
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6.79 |
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6.61 |
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11.85 | |
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Ratio of earnings to fixed charges |
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6.51 |
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5.72 |
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7.23 |
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6.96 |
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6.74 |
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11.85 | |
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(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. |
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