EX-12 3 sjiexh12123115ratioofearni.htm EXHIBIT 12 Exhibit


 
 
 
 
 
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,
 
 
 
 
 
 
 
2015
2014
2013
2012
2011
 
 
 
 
 
 
Net Income*
$
105,610

$
97,628

$
82,389

$
92,776

$
89,859

 
 
 
 
 
 
Income Taxes
1,360

4,449

(19,014
)
11,479

22,502

 
 
 
 
 
 
Fixed Charges**
36,541

34,196

27,509

24,344

25,298

 
 
 
 
 
 
Capitalized Interest
(4,919
)
(4,636
)
(8,684
)
(5,358
)
(1,220
)
 
 
 
 
 

 

 
 
 
 
 

 

Total Available
$
138,592

$
131,637

$
82,200

$
123,241

$
136,439

 
 
 
 
 

 

 
 
 
 
 

 

 
 
 
 
 

 

Total Available
3.8
x
3.8
x
3.0
x
5.1
x
5.4
x
Fixed Charges
 
 

 

 

 
 
 
 

 

 

 

 
 
 

 

 

 

* Income from Continuing Operations.
 
 

 

 

 

 
 
 
 
 
 
** Includes interest charges and capitalized interest.