EX-12 6 exhibit12.txt SJI CALC. OF RATIO OF EARNINGS TO FIXED CHARGES Exhibit 12 SOUTH JERSEY INDUSTRIES, INC. Calculation of Ratio of Earnings from Continuing Operations to Fixed Charges (Before Income Taxes) (IN THOUSANDS)
Fiscal Year Ended December 31, -------------------------------------------------------------------------------------- 2004 2003 2002 2001 2000 1999 -------------------------------------------------------------------------------------- Net Income* $42,973 $34,553 $29,412 $26,869 $24,741 $21,962 Income Taxes 29,079 23,596 20,404 19,295 18,711 16,418 Fixed Charges** 21,273 23,016 22,675 24,101 24,392 24,300 Capitalized Interest (700) (2,400) (1,941) (500) (26) (390) -------------------------------------------------------------------------------------- Total Available $92,625 $78,765 $70,550 $69,765 $67,818 $62,290 ====================================================================================== Total Available 4.4x 3.4x 3.1x 2.9x 2.8x 2.6x -------------------------- Fixed Charges * Net Income from Continuing Operations. ** Includes interest and preferred dividend requirement of a subsidiary. Preferred dividend requirement totalled $135,000 in 2004 (rentals are not material).