EXHIBIT 12.1
PUGET ENERGY
STATEMENT SETTING FORTH COMPUTATIONS OF RATIOS OF
EARNINGS TO FIXED CHARGES
(Dollars in Thousands)
12 MONTHS | ||
Ending | Year Ended December 31, |
| December 31, 2001 | 2000 | 1999 | 1998 | 1997 |
EARNINGS AVAILABLE FOR FIXED CHARGES Pre-tax income: Income from continuing operations per statement of income Federal income taxes Federal income taxes charged to other income - net Capital interest Undistributed (earnings) or losses of less-than- fifty-percent-owned entities Total Fixed charges: Interest expense Other interest Portion of rentals representative of the interest factor Total Earnings available for combined fixed charges RATIO OF EARNINGS TO FIXED CHARGES | $121,587 78,006 4,590 (883) -- $203,300 $194,505 883 7,379 $202,767 $406,067 2.00x | $193,831 128,973 1,411 (1,264) -- $322,951 $184,405 1,264 5,002 $190,671 $513,622 2.69x | $185,567 109,164 2,909 (3,692) -- $293,948 $160,966 3,692 4,575 $169,233 $463,181 2.74x | $169,612 105,814 3,986 (1,782) -- $277,630 $146,248 1,782 2,878 $150,908 $428,538 2.84x | $125,698 44,916 14,807 (360) (608) $184,4531 $123,543 360 3,143 $127,046 $311,499 2.45x |
PUGET ENERGY
STATEMENT SETTING FORTH COMPUTATIONS OF RATIOS OF
EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED STOCK DIVIDENDS
(Dollars in Thousands)
12 MONTHS | ||
Ending | Year Ended December 31, |
| December 31, 2001 | 2000 | 1999 | 1998 | 1997 |
EARNINGS AVAILABLE FOR COMBINED FIXED CHARGES AND PREFERRED DIVIDEND REQUIREMENTS Pre-tax income: Income from continuing operations per statement of income Federal income taxes Federal income taxes charged to other income - net Subtotal Capital interest Undistributed (earnings) or losses of less-than- fifty-percent-owned entities Total Fixed charges: Interest expense Other interest Portion of rentals representative of the interest factor Total Earnings available for combined fixed charges and preferred dividend requirements DIVIDEND REQUIREMENT: Fixed charges above Presferred Dividend requirements below Total | $121,587 78,006 4,590 204,183 (883) -- $203,300 $194,505 883 7,379 $202,767 $406,067 $202,767 14,128 $216,895 | $193,831 128,973 1,411 324,215 (1,264) -- $322,951 $184,405 1,264 5,002 $190,671 $513,622 $190,671 15,044 $205,715 | $185,567 109,164 2,909 297,640 (3,692) -- $293,948 $160,966 3,692 4,575 $169,233 $463,181 $169,233 17,747 $186,980 | $169,612 105,814 3,986 279,412 (1,782) -- $277,630 $146,248 1,782 2,878 $150,908 $428,538 $150,908 21,421 $172,329 | $125,698 44,916 14,807 185,421 (360) (608) $184,453 $123,543 360 3,143 $127,046 $311,499 $127,046 26,266 $153,312 |
12 MONTHS | ||
Ending | Year Ended December 31, |
| December 31, 2001 | 2000 | 1999 | 1998 | 1997 |
RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED DIVIDEND REQUIREMENTS COMPUTATION OF PREFERRED DIVEDEND REQUIREMENTS: (a) Pre-tax income (b) Income from continuing operations (c) Ratio of (a) to (b) (d) Preferred dividends Preferred dividend requirements [(d) multiplied by (c)] | 1.87 $204,183 $121,587 1.6793 $8,413 $14,128 | 2.50 $324,215 $193,831 1.6727 $8,994 $15,044 | 2.48 $297,640 $185,567 1,6039 $11,065 $17,747 | 2.49 $279,412 $169,612 1.6474 $13,003 $21,421 | 2.03 $185,421 $125,698 1.4751 $17,806 $26,266 |