EX-12.2
Published on April 8, 2009
EXHIBIT 12.2
California Water Service Group
Computation of Ratios of Earnings to Fixed Charges
including Preferred Stock Dividends
In thousands except ratios
Computation of Ratios of Earnings to Fixed Charges
including Preferred Stock Dividends
In thousands except ratios
Year ended December 31, | ||||||||||||||||||||
2008 | 2007 | 2006 | 2005 | 2004 | ||||||||||||||||
Earnings(1): |
||||||||||||||||||||
Income before income tax expense |
63,936 | 51,882 | 42,419 | 47,229 | 43,111 | |||||||||||||||
Fixed charges expensed and capitalized |
20,591 | 19,719 | 19,669 | 18,600 | 18,664 | |||||||||||||||
Capitalized interest |
(3,411 | ) | (2,585 | ) | (2,700 | ) | (900 | ) | (824 | ) | ||||||||||
Preferred dividend requirement |
(114 | ) | (153 | ) | (153 | ) | (153 | ) | (153 | ) | ||||||||||
81,002 | 68,863 | 59,235 | 64,776 | 60,798 | ||||||||||||||||
Fixed Charges: |
||||||||||||||||||||
Interest expensed and capitalized, and
amortization of capitalized
expense related
to indebtedness |
20,591 | 19,719 | 19,669 | 18,600 | 18,664 | |||||||||||||||
Estimated interest component of rent
expense |
237 | 221 | 208 | 180 | 205 | |||||||||||||||
Preferred dividend requirement |
114 | 153 | 153 | 153 | 153 | |||||||||||||||
20,942 | 20,093 | 20,030 | 18,933 | 19,022 | ||||||||||||||||
Ratio of earnings to fixed charges
including
preferred stock dividends |
3.87 | 3.43 | 2.96 | 3.42 | 3.20 |
(1) | As defined by Item 503(d) of Regulation S-K |