EXHIBIT 12
Published on August 23, 2006
EXHIBIT 12
California Water Service Group
Computation of Ratios of Earnings to Fixed Charges
including Preferred Stock Dividends
Computation of Ratios of Earnings to Fixed Charges
including Preferred Stock Dividends
In thousands except ratios
Three months | Six months | |||||||||||||||||||||||||||
ended | ended | Year ended December 31, | ||||||||||||||||||||||||||
June 30, 2006 | June 30, 2006 | 2005 | 2004 | 2003 | 2002 | 2001 | ||||||||||||||||||||||
Earnings
(1): |
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Income before income tax expense |
9,760 | 11,138 | 47,229 | 43,111 | 32,315 | 31,641 | 24,693 | |||||||||||||||||||||
Fixed charges expensed and capitalized |
5,021 | 9,770 | 18,790 | 18,833 | 19,682 | 18,491 | 17,113 | |||||||||||||||||||||
Capitalized interest |
-625 | -850 | -900 | -824 | -1,995 | -1,473 | -858 | |||||||||||||||||||||
Preferred dividend requirement |
-38 | -76 | -153 | -153 | -153 | -153 | -153 | |||||||||||||||||||||
14,118 | 19,982 | 64,967 | 60,967 | 49,849 | 48,507 | 40,795 | ||||||||||||||||||||||
Fixed Charges: |
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Interest expensed and capitalized, and
amortization of capitalized expense
related to indebtedness |
4,970 | 9,667 | 18,600 | 18,664 | 19,512 | 18,314 | 16,888 | |||||||||||||||||||||
Estimated interest component of rent expense |
13 | 27 | 38 | 16 | 17 | 24 | 72 | |||||||||||||||||||||
Preferred dividend requirement |
38 | 76 | 153 | 153 | 153 | 153 | 153 | |||||||||||||||||||||
5,021 | 9,770 | 18,790 | 18,833 | 19,682 | 18,491 | 17,113 | ||||||||||||||||||||||
Ratio of earnings to fixed charges
including preferred stock dividends |
2.81 | 2.05 | 3.46 | 3.24 | 2.53 | 2.62 | 2.38 |
(1) | As defined by Item 503(d) of Regulation S-K |