EXHIBIT 12.1
Published on February 25, 2016
Exhibit 12.1
California Water Service Group
Computation of Ratios of Earnings to Fixed Charges
(In thousands except ratios)
Years Ended December 31, |
|||||||||||||||||||
2015 |
2014 |
2013 |
2012 |
2011 |
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Earnings: |
|||||||||||||||||||
Income before income tax expense |
$ |
70,307 |
$ |
84,710 |
$ |
67,723 |
$ |
70,279 |
$ |
60,878 |
|||||||||
Fixed charges interest expense |
29,467 |
28,765 |
31,179 |
32,354 |
32,455 |
||||||||||||||
Capitalized interest |
(1,915 |
) |
(1,535 |
) |
(2,038 |
) |
(3,401 |
) |
(2,741 |
) |
|||||||||
Total |
97,859 |
111,940 |
96,864 |
99,232 |
90,592 |
||||||||||||||
Fixed Charges: |
|||||||||||||||||||
Interest expensed & capitalized, & amortization of capitalized expense related to indebtedness |
29,185 |
28,483 |
30,897 |
32,072 |
32,455 |
||||||||||||||
Estimated interest component of rent expense |
$ |
282 |
$ |
282 |
$ |
282 |
$ |
282 |
$ |
474 |
|||||||||
Total |
29,467 |
28,765 |
31,179 |
32,354 |
32,929 |
||||||||||||||
Ratio of earnings to fixed charges |
3.32 |
3.89 |
3.11 |
3.07 |
2.75 |