EX-12.2 4 c58983_ex12-2.htm

EXHIBIT 12.2

PUBLIC SERVICE ELECTRIC AND GAS COMPANY
COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

For the Nine Months
September 30,

 

For the Years Ended
December 31,

 

 

2009

 

2008

 

2008

 

2007

 

2006

 

2005

 

2004

 

 

 

 

(Millions, except ratios)

Earnings as Defined in Regulation S-K (A):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pre-tax Income from Continuing Operations

 

$

433

 

$

448

 

$

592

 

$

637

 

$

448

 

$

583

 

$

592

Fixed Charges

 

 

236

 

 

244

 

 

325

 

 

332

 

 

346

 

 

342

 

 

362

Total Earnings

 

$

669

 

$

692

 

$

917

 

$

969

 

$

794

 

$

925

 

$

954

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed Charges as Defined in Regulation S-K (B)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest Expense

 

$

236

 

$

244

 

$

325

 

$

332

 

$

346

 

$

342

 

$

362

Total Fixed Charges

 

$

236

 

$

244

 

$

325

 

$

332

 

$

346

 

$

342

 

$

362

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ratio of Earnings to Fixed Charges

 

 

2.83

 

 

2.84

 

 

2.82

 

 

2.92

 

 

2.29

 

 

2.70

 

 

2.64

 

 

(A)

The term “earnings” shall be defined as pretax income from continuing operations. Add to pretax income the amount of fixed charges adjusted to exclude the amount of any interest capitalized during the period.

 

 

(B)

Fixed Charges represent (a) interest, whether expensed or capitalized, (b) amortization of debt discount, premium and expense and (c) an estimate of interest implicit in rentals.