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) -------------------------------------------------------- $ 40,794 $ 46,256 $ 49,705 $ 44,901 ======================================================== 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 -------------------------------------------------------- $ 16,959 $ 15,425 $ 14,543 $ 13,840 ======================================================== Ratio of earnings to fixed charges 2.41 3.00 3.42 3.24 ========================================================
(1) As defined by Item 503(d) of Regulation S-K.