Exhibit 12.2
California Water Service Group
Computation of Ratios of Earnings to Fixed Charges
Including Preferred Stock Dividends
In thousands except ratios
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| Year ended December 31, |
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| 2011 |
| 2010 |
| 2009 |
| 2008 |
| 2007 |
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Earnings(1): |
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Income before income tax expense |
| $ | 60,878 |
| $ | 62,211 |
| $ | 67,916 |
| $ | 63,936 |
| $ | 51,882 |
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Fixed charges expensed and capitalized |
| 32,455 |
| 27,936 |
| 24,394 |
| 20,591 |
| 19,719 |
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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 |
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Fixed Charges: |
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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 |
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Preferred dividend requirement |
| — |
| — |
| — |
| 114 |
| 153 |
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|
| $ | 32,929 |
| $ | 28,274 |
| $ | 24,723 |
| $ | 20,942 |
| $ | 20,093 |
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Ratio of earnings to fixed charges including preferred stock dividends |
| $ | 2.75 |
| $ | 3.13 |
| $ | 3.61 |
| $ | 3.87 |
| $ | 3.43 |
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(1) As defined by Item 503(d) of Regulation S-K
