EXHIBIT 12.2
SALTON SEA GUARANTORS
RATIO OF EARNINGS TO FIXED CHARGES
(AMOUNTS IN THOUSANDS, EXCEPT RATIO)
THREE MONTHS ENDED
YEAR ENDED DECEMBER 31, MARCH 31,
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1998 1997 1996 1995 1994 1999 1998
--------- --------- ---------- -------- -------- --------- ---------
Pre-tax income from continuing
operations 45,939 42,816 35,031 19,348 31,943 3,362 5,811
Capitalized interest, net of
amortization (5,024) (4,513) (10,033) (9,178) -- (1,612) (1,154)
--------- --------- ---------- -------- -------- --------- ---------
Fixed charges: 40,915 38,303 24,998 10,170 31,943 1,750 4,657
Interest expense and
amortization of deferred
finance charges on all
indebtedness 21,730 23,004 24,866 24,783 8,240 6,076 5,260
--------- --------- ---------- -------- -------- --------- ---------
Total fixed charges 21,730 23,004 24,866 24,783 8,240 6,076 5,260
Earnings before income taxes
and fixed charges 62,645 61,307 49,864 34,953 40,183 7,826 9,917
Ratio of earnings to fixed
charges 2.883 2.665 2.005 1.410 4.877 1.288 1.885