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California Water Service Group
Computation of Ratios of Earnings to Fixed Charges
(In thousands except ratios)
| Year ended December 31, | |||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2013 | 2012 | 2011 | 2010 | 2009 | |||||||||||
Earnings: | ||||||||||||||||
Income before Income Tax Expense | $ | 67,723 | $ | 70,279 | $ | 60,878 | $ | 62,211 | $ | 67,916 | ||||||
Fixed Charges Interest Expense | 31,179 | 32,354 | 32,455 | 27,936 | 24,394 | |||||||||||
Capitalized Interest | (2,038 | ) | (3,401 | ) | (2,741 | ) | (1,563 | ) | (3,081 | ) | ||||||
| | | | | | | | | | | | | | | | |
Total | $ | 96,864 | $ | 99,232 | $ | 90,592 | $ | 88,584 | $ | 89,229 | ||||||
| | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | |
Fixed Charges: | ||||||||||||||||
Interest Expensed & Capitalized, & amortization of capitalized expense related to indebtedness | $ | 30,897 | $ | 32,072 | $ | 32,455 | $ | 27,936 | $ | 24,394 | ||||||
Estimated Interest Component of Rent Expense | 282 | 282 | 474 | 338 | 329 | |||||||||||
| | | | | | | | | | | | | | | | |
Total | $ | 31,179 | $ | 32,354 | $ | 32,929 | $ | 28,274 | $ | 24,723 | ||||||
| | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | |
Ratio of Earnings to Fixed Charges | 3.11 | 3.07 | 2.75 | 3.13 | 3.61 |
California Water Service Group Computation of Ratios of Earnings to Fixed Charges (In thousands except ratios)