EX-12 5 peratios2001a.txt EXHIBIT 12.01 PE COMPUTATION OF RATIOS EXHIBIT 12.01 PACIFIC ENTERPRISES COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES (Dollars in millions)
1997 1998 1999 2000 2001 ------- -------- -------- -------- -------- Fixed charges: Interest $ 91 $ 84 $ 82 $ 72 $ 88 Interest portion of annual rentals 12 11 3 4 3 Preferred dividends of subsidiaries (1) 13 2 2 2 2 ------- -------- -------- -------- -------- Total fixed charges for purpose of ratio $116 $ 97 $ 87 $ 78 $ 93 ======= ======== ======== ======== ======== Earnings: Pretax income from continuing operations $335 $274 $350 $396 $377 Add: Total fixed charges (from above) 116 97 87 78 93 ------- -------- -------- -------- ------- Total earnings for purpose of ratio $451 $371 $437 $474 $470 ======= ======== ======== ======== ======= Ratio of Earnings to Fixed Charges 3.89 3.82 5.02 6.08 5.05 ======= ======== ======== ======== ======= (1) In computing this ratio, "Preferred dividends of subsidiaries" represents the before-tax earnings necessary to pay such dividends, computed at the effective tax rates for the applicable periods.