Attached files
EXHIBIT 12.2 |
||||||||||||||||||||
SAN DIEGO GAS & ELECTRIC COMPANY |
||||||||||||||||||||
COMPUTATION OF RATIO OF EARNINGS TO COMBINED FIXED CHARGES |
||||||||||||||||||||
AND PREFERRED STOCK DIVIDENDS |
||||||||||||||||||||
(Dollars in millions) |
||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
March 31, |
||
|
|
|
2011 |
|
|
2012 |
|
|
2013 |
|
|
2014 |
|
|
2015 |
|
|
2016 |
||
Fixed charges and preferred |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||
stock dividends: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||
Interest |
|
$ |
193 |
|
$ |
220 |
|
$ |
231 |
|
$ |
238 |
|
$ |
241 |
|
$ |
59 |
||
Interest portion of annual rentals |
|
|
1 |
|
|
1 |
|
|
1 |
|
|
1 |
|
|
1 |
|
|
- |
||
Total fixed charges |
|
|
194 |
|
|
221 |
|
|
232 |
|
|
239 |
|
|
242 |
|
|
59 |
||
Preferred stock dividends (1) |
|
|
7 |
|
|
7 |
|
|
5 |
|
|
- |
|
|
- |
|
|
- |
||
Combined fixed charges and preferred stock |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||
dividends for purpose of ratio |
|
$ |
201 |
|
$ |
228 |
|
$ |
237 |
|
$ |
239 |
|
$ |
242 |
|
$ |
59 |
||
Earnings: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||
Pretax income from continuing operations |
|
$ |
692 |
|
$ |
705 |
|
$ |
626 |
|
$ |
797 |
|
$ |
890 |
|
$ |
202 |
||
Add: Total fixed charges (from above) |
|
|
194 |
|
|
221 |
|
|
232 |
|
|
239 |
|
|
242 |
|
|
59 |
||
Less: Interest capitalized |
|
|
1 |
|
|
- |
|
|
- |
|
|
1 |
|
|
- |
|
|
- |
||
Total earnings for purpose of ratio |
|
$ |
885 |
|
$ |
926 |
|
$ |
858 |
|
$ |
1,035 |
|
$ |
1,132 |
|
$ |
261 |
||
Ratio of earnings to combined fixed charges |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||
and preferred stock dividends |
|
|
4.40 |
|
|
4.06 |
|
|
3.62 |
|
|
4.33 |
|
|
4.68 |
|
|
4.42 |
||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||
Ratio of earnings to fixed charges |
|
|
4.56 |
|
|
4.19 |
|
|
3.70 |
|
|
4.33 |
|
|
4.68 |
|
|
4.42 |
||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(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. |
|||||||||||||||||||
|