Exhibit 12.1
CALIFORNIA WATER SERVICE GROUP
COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES
In thousands except ratios
Year ended December 31
2002 2001 2000 1999 1998
EARNINGS (1):
Income before income tax expense $ 24,693 $ 31,534 $ 35,486 $ 31,285
Fixed charges expensed and capitalized 17,214 15,680 14,798 14,095
Capitalized interest (858) (703) (324) (224)
Preferred dividend requirements (255) (255) (255) (255)
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$ 40,794 $ 46,256 $ 49,705 $ 44,901
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Fixed charges:
Interest expensed and capitalized, and
amortization of capitalized
expenses related to indebtedness $ 16,887 $ 15,349 $ 14,489 $ 13,791
Estimated interest component of
rent expense 72 76 54 49
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$ 16,959 $ 15,425 $ 14,543 $ 13,840
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Ratio of earnings to fixed charges 2.41 3.00 3.42 3.24
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(1) As defined by Item 503(d) of Regulation S-K.