EX-12.2 6 heexhibit122201610k.htm EXHIBIT 12.2 Exhibit


Hawaiian Electric Exhibit 12.2
 
Hawaiian Electric Company, Inc.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
Years ended December 31
2016

 
2015

 
2014

 
2013

 
2012

(dollars in thousands)
 
 
 
 
 
 
 
 
 
Fixed charges
 
 
 
 
 
 
 

 
 

Total interest charges
$
67,407

 
$
67,178

 
$
66,132

 
$
64,130

 
$
62,056

Interest component of rentals
3,249

 
3,060

 
3,244

 
2,793

 
2,690

Pretax preferred stock dividend requirements of subsidiaries
1,453

 
1,443

 
1,444

 
1,421

 
1,467

Total fixed charges
$
72,109

 
$
71,681

 
$
70,820

 
$
68,344

 
$
66,213

Earnings
 
 
 
 
 
 
 
 
 

Net income attributable to Hawaiian Electric
$
143,397

 
$
136,794

 
$
138,721

 
$
124,009

 
$
100,356

Fixed charges, as shown
72,109

 
71,681

 
70,820

 
68,344

 
66,213

Income taxes
84,801

 
79,422

 
80,725

 
69,117

 
61,048

Interest capitalized
(3,727
)
 
(3,265
)
 
(3,954
)
 
(7,097
)
 
(4,355
)
Earnings available for fixed charges
$
296,580

 
$
284,632

 
$
286,312

 
$
254,373

 
$
223,262

Ratio of earnings to fixed charges
4.11

 
3.97

 
4.04

 
3.72

 
3.37