Attached files
EXHIBIT 12.3 |
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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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| June 30, | |
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| 2010 |
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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 | |
Fixed charges and preferred stock dividends: |
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Interest |
| $ | 72 |
| $ | 77 |
| $ | 77 |
| $ | 76 |
| $ | 77 |
| $ | 44 | |
Interest portion of annual rentals |
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| 2 |
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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 | |
Total fixed charges |
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| 74 |
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| 78 |
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| 78 |
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| 77 |
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| 79 |
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| 45 | |
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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| 1 | |
Combined fixed charges and preferred stock dividends for purpose of ratio |
| $ | 76 |
| $ | 80 |
| $ | 80 |
| $ | 79 |
| $ | 81 |
| $ | 46 | |
Earnings: |
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Pretax income from continuing operations |
| $ | 463 |
| $ | 431 |
| $ | 369 |
| $ | 481 |
| $ | 472 |
| $ | 396 | |
Add: Total fixed charges (from above) |
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| 74 |
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| 78 |
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| 78 |
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| 77 |
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| 79 |
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| 45 | |
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 |
| $ | 536 |
| $ | 508 |
| $ | 446 |
| $ | 557 |
| $ | 550 |
| $ | 441 | |
Ratio of earnings to combined fixed charges and preferred stock dividends |
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| 7.05 |
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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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| 9.59 | |
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Ratio of earnings to fixed charges |
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| 7.24 |
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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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| 9.80 | |
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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. |