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Content analysis
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Readability |
8th grade Avg
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SOUTHWEST WATER COMPANY AND SUBSIDIARIES
COMPUTATION OF EARNINGS TO FIXED CHARGES RATIOS
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| Years Ended December 31,(1) |
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(In thousands, except for ratio data) |
| 2006 |
| 2005 |
| 2004 |
| 2003 |
| 2002 |
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Earnings: |
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Income (loss) from continuing operations before |
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income taxes |
| $ | 14,350 |
| $ | 11,362 |
| $ | 7,322 |
| $ | 10,989 |
| $ | 9,258 |
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Add: Fixed charges |
| 11,690 |
| 9,320 |
| 7,720 |
| 6,606 |
| 5,648 |
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Less: Interest capitalized |
| (630 | ) | (689 | ) | (501 | ) | (535 | ) | (194 | ) |
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Total earnings |
| $ | 25,410 |
| $ | 19,993 |
| $ | 14,541 |
| $ | 17,060 |
| $ | 14,712 |
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Fixed Charges: |
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Interest expense, including amortization of |
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debt discounts and issuance costs |
| $ | 8,372 |
| $ | 7,245 |
| $ | 4,988 |
| $ | 4,181 |
| $ | 4,089 |
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Interest capitalized |
| 630 |
| 689 |
| 501 |
| 535 |
| 194 |
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Interest component of rentals(1) |
| 2,688 |
| 1,386 |
| 2,231 |
| 1,890 |
| 1,365 |
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Total fixed charges |
| $ | 11,690 |
| $ | 9,320 |
| $ | 7,720 |
| $ | 6,606 |
| $ | 5,648 |
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Ratio of Earnings to Fixed Charges: |
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Ratio |
| 2.17 | x | 2.15 | x | 1.88 | x | 2.58 | x | 2.60 | x |
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Deficiency |
| $ | — |
| $ | — |
| $ | — |
| $ | — |
| $ | — |
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(1) Reflects one-third of rental expense under operating leases considered to represent interest costs.