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Content analysis
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- 10-Q Quarterly report
- 12.1 Hei Inc. Computation of Ratio of Earnings
- 12.2 Heco Inc. Computation of Ratio of Earnings
- 99.1 Seventh Amendment to Trust Agreement
- 99.2 Written Statement Robert F. Clarke (Hei Ceo)
- 99.3 Written Statement Curtis Y. Harada (Hei Cfo)
- 99.4 Written Statement T. Michael May (Heco Ceo)
- 99.5 Written Statement Richard a Von Gnechten(heco-cfo)
HECO Exhibit 12.2
Hawaiian Electric Company, Inc. and subsidiaries
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(unaudited)
Nine months ended September 30 |
| 2002 |
| 2001 |
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(dollars in thousands) |
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Fixed charges |
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Total interest charges |
| $ | 33,248 |
| $ | 35,918 |
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Interest component of rentals |
|
| 491 |
|
| 521 |
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Pretax preferred stock dividend requirements of subsidiaries |
|
| 1,080 |
|
| 1,080 |
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Preferred securities distributions of trust subsidiaries |
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| 5,756 |
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| 5,756 |
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Total fixed charges |
| $ | 40,575 |
| $ | 43,275 |
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Earnings |
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Income before preferred stock dividends of HECO |
| $ | 70,629 |
| $ | 70,646 |
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Income taxes (see note below) |
|
| 44,196 |
|
| 44,283 |
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Fixed charges, as shown |
|
| 40,575 |
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| 43,275 |
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AFUDC for borrowed funds |
|
| (1,392 | ) |
| (1,711 | ) | |
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Earnings available for fixed charges |
| $ | 154,008 |
| $ | 156,493 |
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Ratio of earnings to fixed charges |
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| 3.80 |
|
| 3.62 |
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Note: |
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Income taxes is comprised of the following |
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| Income tax expense relating to operating income for regulatory purposes |
| $ | 44,110 |
| $ | 44,210 |
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| Income tax expense relating to nonoperating results |
|
| 86 |
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| 73 |
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| $ | 44,196 |
| $ | 44,283 |
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