EX-12.2 3 pe-ex122_2017630xq2.htm EXHIBIT 12.2 Exhibit


 
 
 
 
 
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,
 
2017
2016
2015
2014
2013
2012
Earnings Available For Fixed Charges:
 
 
 
 
 
 
Pre-tax income:
 
 
 
 
 
 
   Income from continuing operations before
       income taxes
$
497,720

$
555,928

$
430,089

$
325,955

$
517,015

$
505,478

   AFUDC - equity
(12,295
)
(12,576
)
(9,325
)
(7,002
)
(15,930
)
(25,469
)
   AFUDC - debt
(9,073
)
(9,304
)
(7,575
)
(5,611
)
(11,261
)
(22,216
)
Total
$
476,352

$
534,048

$
413,189

$
313,342

$
489,824

$
457,793

Fixed charges:
 
 
 
 
 
 
   Interest expense
$
232,941

$
242,983

$
247,571

$
264,926

$
261,377

$
247,013

   Other interest
12,295

12,576

9,325

7,002

15,930

25,469

Portion of rentals representative of the interest factor (a)
8,359

8,061

8,980

10,732

10,257

10,251

Total
$
253,595

$
263,620

$
265,876

$
282,660

$
287,564

$
282,733

Earnings available for combined fixed charges
$
729,947

$
797,668

$
679,065

$
596,002

$
777,388

$
740,526

 
 
 
 
 
 
 
Ratio of Earnings to Fixed Charges
2.88x

3.03x

2.55x

2.11x

2.70x

2.62x


(a) Represents interest portion of rents estimated at 33 1/3 percent.