Exhibit 12a
PUGET SOUND POWER & LIGHT COMPANY
STATEMENT SETTING FORTH COMPUTATIONS OF RATIOS OF
EARNINGS TO FIXED CHARGES
(Dollars in Thousands)
Year Ended December 31
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1994 1993 1992 1991 1990
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EARNINGS AVAILABLE FOR FIXED CHARGES
Pre-tax income:
Net income per statement of income $120,059 $138,327 $135,720 $132,777 $132,343
Federal income taxes 80,259 83,970 72,449 56,180 64,094
Federal income taxes charged to
other income - net 1,556 (382) (2,106) (2,267) 12
Undistbuted (earnings) or losses
of less-than-fifty-percent-owned
entities -- -- (567) (16) (114)
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Total $201,874 $221,915 $205,496 $186,674 $196,335
Fixed charges:
Interest on long-term debt $ 84,144 $ 86,030 $ 89,509 $ 84,791 $ 81,766
Other interest 6,249 3,542 10,477 6,384 8,368
Portion of rentals representative
of the interest factor 4,218 3,937 4,474 4,463 4,388
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Total $ 94,611 $ 93,509 $104,460 $ 95,638 $ 94,522
Earnings available for
fixed charges $296,485 $315,424 $309,956 $282,312 $290,857
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RATIO OF EARNINGS TO FIXED CHARGES 3.13x 3.37x 2.97x 2.95x 3.08x