EX-12.1 3 file3.htm MEHC RATIO OF EARNING Table of Contents

EXHIBIT 12.1

MIDAMERICAN ENERGY HOLDINGS COMPANY
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(In Millions)


  Six Months
Ended June 30,		 Years Ended December 31,
  2006 2005 2005 2004 2003 2002 2001
Earnings Available for Fixed Charges:  
 
 
 
 
 
 
Income from continuing operations $ 402.0
$ 249.1
$ 557.5
$ 537.8
$ 442.7
$ 397.4
$ 153.0
Add (Deduct):  
 
 
 
 
 
 
Equity income (9.7
)
 (18.1
)
 (53.3
)
 (16.9
)
 (38.2
)
 (40.5
)
 (39.6
)
Minority interest 10.1
3.2
9.3
6.4
6.4
6.2
2.6
Provision for income taxes 212.9
131.6
244.7
265.0
270.3
111.3
254.2
Add:  
 
 
 
 
 
 
Fixed charges 548.0
472.7
926.4
949.9
974.7
827.4
653.0
Distributed income of equity investees 11.7
9.2
34.4
36.9
78.4
29.1
11.1
Deduct:  
 
 
 
 
 
 
Interest capitalized – continuing operations (14.9
)
 (8.2
)
 (16.7
)
 (20.0
)
 (30.5
)
 (23.4
)
 (67.0
)
Interest capitalized – discontinued operations —
—
—
—
—
(14.1
)
 (19.5
)
  758.1
590.4
1,144.8
1,221.3
1,261.1
896.0
794.8
Total earnings available for fixed charges $ 1,160.1
$ 839.5
$ 1,702.3
$ 1,759.1
$ 1,703.8
$ 1,293.4
$ 947.8
Fixed Charges:  
 
 
 
 
 
 
Interest expense – continuing operations $ 529.8
$ 455.7
$ 891.0
$ 903.2
$ 761.0
$ 632.1
$ 479.5
Interest expense – discontinued operations —
—
—
12.7
10.8
15.3
19.8
Estimated interest portion of rental payments 12.5
11.8
25.8
23.7
21.9
20.0
10.0
Preferred dividends of subsidiaries – tax deductible —
—
—
—
170.2
147.7
80.1
Preferred dividends of subsidiaries – nondeductible 5.7
5.2
9.6
10.3
10.8
12.3
63.6
Total fixed charges $ 548.0
$ 472.7
$ 926.4
$ 949.9
$ 974.7
$ 827.4
$ 653.0
Ratio of earnings to fixed charges 2.1
x
 1.8
x
 1.8
x
 1.9
x
 1.7
x
 1.6
x
 1.5
x