EX-12.2 10 heexhibit122201710k.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
2017

 
2016

 
2015

 
2014

 
2013

(dollars in thousands)
 
 
 
 
 
 
 
 
 
Fixed charges
 
 
 
 
 
 
 
 
 

Total interest charges
$
70,234

 
$
67,407

 
$
67,178

 
$
66,132

 
$
64,130

Interest component of rentals
3,618

 
3,249

 
3,060

 
3,244

 
2,793

Pretax preferred stock dividend requirements of subsidiaries
1,539

 
1,453

 
1,443

 
1,444

 
1,421

Total fixed charges
$
75,391

 
$
72,109

 
$
71,681

 
$
70,820

 
$
68,344

Earnings
 
 
 
 
 
 
 
 
 
Net income attributable to Hawaiian Electric
$
121,031

 
$
143,397

 
$
136,794

 
$
138,721

 
$
124,009

Fixed charges, as shown
75,391

 
72,109

 
71,681

 
70,820

 
68,344

Income taxes
83,199

 
84,801

 
79,422

 
80,725

 
69,117

Interest capitalized
(5,375
)
 
(3,727
)
 
(3,265
)
 
(3,954
)
 
(7,097
)
Earnings available for fixed charges
$
274,246

 
$
296,580

 
$
284,632

 
$
286,312

 
$
254,373

Ratio of earnings to fixed charges
3.64

 
4.11

 
3.97

 
4.04

 
3.72