Exhibit 12.1
California Water Service Group
Computation of Ratios of Earnings to Fixed Charges
(In thousands except ratios)
| |
Year ended December 31, | |||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| |
2012 | 2011 | 2010 | 2009 | 2008 | |||||||||||
Earnings: |
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Income before Income Tax Expense |
$ | 70,279 | $ | 60,878 | $ | 62,211 | $ | 67,916 | $ | 63,936 | ||||||
Fixed Charges Interest Expense |
32,354 | 32,455 | 27,936 | 24,394 | 20,591 | |||||||||||
Capitalized Interest |
(3,401 | ) | (2,741 | ) | (1,563 | ) | (3,081 | ) | (3,411 | ) | ||||||
Total |
$ | 99,232 | $ | 90,592 | $ | 88,584 | $ | 89,229 | $ | 81,116 | ||||||
Fixed Charges: |
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Interest Expensed & Capitalized, & amortization of capitalized expense related to indebtedness |
$ | 32,072 | $ | 32,455 | $ | 27,936 | $ | 24,394 | $ | 20,591 | ||||||
Estimated Interest Component of Rent Expense |
282 | 474 | 338 | 329 | 237 | |||||||||||
Total |
$ | 32,354 | $ | 32,929 | $ | 28,274 | $ | 24,723 | $ | 20,828 | ||||||
Ratio of Earnings to Fixed Charges |
3.07 | 2.75 | 3.13 | 3.61 | 3.89 | |||||||||||