Exhibit 12.2 CALIFORNIA WATER SERVICE GROUP COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES INCLUDING PREFERRED STOCK DIVIDENDS 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 Preferred dividend requirements 255 255 255 255 -------------------------------------------------------- $ 17,214 $ 15,680 $ 14,798 $ 14,095 ======================================================== Ratio of earnings to fixed charges including preferred stock dividends 2.37 2.95 3.36 3.19 ========================================================
(1) As defined by Item 503(d) of Regulation S-K.