EX-12.2 3 pe-ex122_2015630xq2.htm PSE RATIO OF EARNINGS TO FIXED CHARGES PE-EX12.2_2015.6.30-Q2


 
 
 
 
 
Exhibit 12.2
 
PUGET SOUND ENERGY
STATEMENT SETTING FORTH COMPUTATIONS OF RATIOS OF
EARNINGS TO FIXED CHARGES
(Dollars in Thousands)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
12 Months
 
 
 
 
 
 
Ended
Years Ended
 
June 30,
 December 31,
 
2015
2014
2013
2012
2011
2010
Earnings Available For Fixed Charges:
 
 
 
 
 
 
Pre-tax income:
 
 
 
 
 
 
   Income from continuing operations before
       income taxes
$
319,910

$
325,955

$
517,015

$
505,478

$
282,237

$
26,217

   AFUDC - equity
(7,432
)
(7,002
)
(15,930
)
(25,469
)
(32,430
)
(12,677
)
   AFUDC - debt
(6,057
)
(5,611
)
(11,261
)
(22,216
)
(29,949
)
(14,157
)
Total
$
306,421

$
313,342

$
489,824

$
457,793

$
219,858

$
(617
)
Fixed charges:
 
 
 
 
 
 
   Interest expense
$
261,093

$
264,926

$
261,377

$
247,013

$
231,416

$
235,011

   Other interest
7,432

7,002

15,930

25,469

32,430

12,677

Portion of rentals representative of the interest factor
11,071

10,732

10,257

10,251

8,767

5,391

Total
$
279,596

$
282,660

$
287,564

$
282,733

$
272,613

$
253,079

Earnings available for combined fixed charges
$
586,017

$
596,002

$
777,388

$
740,526

$
492,471

$
252,462

 
 
 
 
 
 
 
Ratio of Earnings to Fixed Charges
2.10x

2.11x

2.70x

2.62x

1.81x

1.00x