Exhibit 12.2 | ||||||||||||||||
PUGET SOUND ENERGY | ||||||||||||||||
STATEMENT SETTING FORTH COMPUTATIONS OF RATIOS OF | ||||||||||||||||
EARNINGS TO FIXED CHARGES | ||||||||||||||||
(Dollars in Thousands) | ||||||||||||||||
Years Ended December 31, | 2005 | 2004 | 2003 | 2002 | 2001 | |||||||||||
Earnings Available For Fixed Charges: | ||||||||||||||||
Pre-tax income: | ||||||||||||||||
Income from continuing operations | $ | 146,769 | $ | 126,192 | $ | 120,055 | $ | 108,948 | $ | 119,130 | ||||||
Income taxes | 89,628 | 77,176 | 70,939 | 52,836 | 76,915 | |||||||||||
Income taxes charged to other income - net | 2,141 | (17 | ) | (162 | ) | 2,082 | 4,590 | |||||||||
Capitalized interest | (3,800 | ) | (2,796 | ) | (2,272 | ) | (1,397 | ) | (883 | ) | ||||||
Total | $ | 234,738 | $ | 200,555 | $ | 188,560 | $ | 162,469 | $ | 199,752 | ||||||
Fixed charges: | ||||||||||||||||
Interest expense | $ | 174,458 | $ | 171,831 | $ | 182,779 | $ | 192,829 | $ | 190,849 | ||||||
Other interest | 3,800 | 2,796 | 2,272 | 1,397 | 883 | |||||||||||
Portion of rentals representative of the interest factor | 5,234 | 5,424 | 4,669 | 5,394 | 5,633 | |||||||||||
Total | $ | 183,492 | $ | 180,051 | $ | 189,720 | $ | 199,620 | $ | 197,365 | ||||||
Earnings available for combined fixed charges | $ | 418,230 | $ | 380,606 | $ | 378,280 | $ | 362,089 | $ | 397,117 | ||||||
Ratio of Earnings to Fixed Charges | 2.28x | 2.11x | 1.99x | 1.81x | 2.01x | |||||||||||
PUGET SOUND ENERGY | ||||||||||||||||
STATEMENT SETTING FORTH COMPUTATIONS OF RATIOS OF | ||||||||||||||||
EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED STOCK DIVIDENDS | ||||||||||||||||
(Dollars in Thousands) | ||||||||||||||||
Years Ended December 31, | 2005 | 2004 | 2003 | 2002 | 2001 | |||||||||||
Earnings Available for Combined Fixed Charges and | ||||||||||||||||
Preferred Dividend Requirements: | ||||||||||||||||
Pre-tax income: | ||||||||||||||||
Income from continuing operations | $ | 146,769 | $ | 126,192 | $ | 120,055 | $ | 108,948 | $ | 119,130 | ||||||
Income taxes | 89,628 | 77,176 | 70,939 | 52,836 | 76,915 | |||||||||||
Income taxes charged to other income - net | 2,141 | (17 | ) | (162 | ) | 2,082 | 4,590 | |||||||||
Subtotal | 238,538 | 203,351 | 190,832 | 163,866 | 200,635 | |||||||||||
Capitalized interest | (3,800 | ) | (2,796 | ) | (2,272 | ) | (1,397 | ) | (883 | ) | ||||||
Total | $ | 234,738 | $ | 200,555 | $ | 188,560 | $ | 162,469 | $ | 199,752 | ||||||
Fixed charges: | ||||||||||||||||
Interest expense | $ | 174,458 | $ | 171,831 | $ | 182,779 | $ | 192,829 | $ | 190,849 | ||||||
Other interest | 3,800 | 2,796 | 2,272 | 1,397 | 883 | |||||||||||
Portion of rentals representative of the interest factor | 5,234 | 5,424 | 4,669 | 5,394 | 5,633 | |||||||||||
Total | $ | 183,492 | $ | 180,051 | $ | 189,720 | $ | 199,620 | $ | 197,365 | ||||||
Earnings Available for Combined Fixed Charges and | ||||||||||||||||
Preferred Dividend Requirements | $ | 418,230 | $ | 380,606 | $ | 378,280 | $ | 362,089 | $ | 397,117 | ||||||
Dividend Requirement: | ||||||||||||||||
Fixed charges above | $ | 183,492 | $ | 180,051 | $ | 189,720 | $ | 199,620 | $ | 197,365 | ||||||
Preferred dividend requirements below | - | - | 8,188 | 11,779 | 14,169 | |||||||||||
Total | $ | 183,492 | $ | 180,051 | $ | 197,908 | $ | 211,399 | $ | 211,534 | ||||||
Ratio of Earnings to Combined Fixed Charges and | ||||||||||||||||
Preferred Dividends Requirement | 2.28x | 2.11x | 1.91x | 1.71x | 1.88x | |||||||||||
Computation of Preferred Dividend Requirements: | ||||||||||||||||
(a) Pre-tax income | $ | 238,538 | $ | 203,351 | $ | 190,832 | $ | 163,866 | $ | 200,635 | ||||||
(b) Income from continuing operations | $ | 146,769 | $ | 126,192 | $ | 120,055 | $ | 108,948 | $ | 119,130 | ||||||
(c) Ratio of (a) to (b) | 1.6253 | 1.6114 | 1.5895 | 1.5041 | 1.6842 | |||||||||||
(d) Preferred dividends | $ | - | $ | - | $ | 5,151 | $ | 7,831 | $ | 8,413 | ||||||
Preferred dividend requirements [(d) multiplied by (c)] | $ | - | $ | - | $ | 8,188 | $ | 11,779 | $ | 14,169 | ||||||
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10-K Filing
Puget Sound Energy 10-K2006 FY Annual report
Filed: 28 Feb 06, 12:00am