EX-12 6 ex12.txt CALCULATION OF RATIO TO FIXED CHARGES Exhibit 12 SOUTH JERSEY GAS COMPANY Calculation of Ratio of Earnings from Continuing Operations To Fixed Charges Plus Preferred Security Dividend Requirements (In Thousands)
Fiscal Year Ended December 31, -------------------------------------------------------------------- 12 Months Ended June 30, 2002 2001 2000 1999 1998 1997 -------------------- --------------------------------------------------------------------- Net Income * $ 21,864 $ 21,527 $ 21,855 $ 20,367 $ 14,884 $ 19,929 Federal and State Income Taxes 15,799 15,693 16,703 15,445 12,299 11,581 Fixed Charges ** 19,113 20,347 21,181 20,949 19,235 18,103 Preferred Securities - Dividends 3,058 3,062 3,074 3,084 3,088 2,102 ---------------------------------------------------------------------------------------- Sub-Total 22,171 23,409 24,255 24,033 22,323 20,205 ---------------------------------------------------------------------------------------- Capitalized Interest (353) (221) (24) (390) (167) (107) ---------------------------------------------------------------------------------------- Total Available for Coverage $ 59,481 $ 60,408 $ 62,789 $ 59,455 $ 49,339 $ 51,608 ======================================================================================== Total Available 2.7x 2.6x 2.6x 2.5x 2.2x 2.6x ---------------------------------------- Fixed Charges and Preferred Security Dividends * Net Income before Discontinued Operations ** Fixed charges consist of interest charges (rentals are not material).