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, |
| |||||||||||||
|
|
2011 |
|
2010 |
|
2009 |
|
2008 |
|
2007 |
| |||||
Earnings(1): |
|
|
|
|
|
|
|
|
|
|
| |||||
Income before income tax expense |
|
$ |
60,878 |
|
$ |
62,211 |
|
$ |
67,916 |
|
$ |
63,936 |
|
$ |
51,882 |
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
Fixed charges expensed and capitalized |
|
32,455 |
|
27,936 |
|
24,394 |
|
20,591 |
|
19,719 |
| |||||
Capitalized interest |
|
(2,741 |
) |
(1,563 |
) |
(3,081 |
) |
(3,411 |
) |
(2,585 |
) | |||||
Preferred dividend requirement |
|
|
|
|
|
|
|
(114 |
) |
(153 |
) | |||||
|
|
$ |
90,592 |
|
$ |
88,584 |
|
$ |
89,229 |
|
$ |
81,002 |
|
$ |
68,863 |
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
Fixed Charges: |
|
|
|
|
|
|
|
|
|
|
| |||||
Interest expensed and capitalized, and amortization of capitalized expense related to indebtedness |
|
$ |
32,455 |
|
$ |
27,936 |
|
$ |
24,394 |
|
$ |
20,591 |
|
$ |
19,719 |
|
Estimated interest component of rent expense |
|
474 |
|
338 |
|
329 |
|
237 |
|
221 |
| |||||
Preferred dividend requirement |
|
|
|
|
|
|
|
114 |
|
153 |
| |||||
|
|
$ |
32,929 |
|
$ |
28,274 |
|
$ |
24,723 |
|
$ |
20,942 |
|
$ |
20,093 |
|
Ratio of earnings to fixed charges including preferred stock dividends |
|
$ |
2.75 |
|
$ |
3.13 |
|
$ |
3.61 |
|
$ |
3.87 |
|
$ |
3.43 |
|
(1) As defined by Item 503(d) of Regulation S-K