EX-12.2 5 exhibit122.htm STATEMENT SETTING FORTH COMPUTATION OF RATIOS OF ERANINGS TO FIXED CHARGES FOR PUGET SOUND ENERGY exhibit122.htm
               
Exhibit 12.2
  
PUGET SOUND ENERGY
  
STATEMENT SETTING FORTH COMPUTATIONS OF RATIOS OF
  
EARNINGS TO FIXED CHARGES
  
(Dollars in Thousands)
  
                           
   
12 Months
                      
   
Ended
                      
   
September 30,
  
Years Ended December 31,
  
   
2009
  
2008
  
2007
  
2006
  
2005
  
2004
  
Earnings Available For Fixed Charges:
                          
Pre-tax income:
                          
   Income from continuing operations before income taxes
   $ 257,442   $ 223,618   $ 265,308   $ 275,339   $ 233,900   $ 200,533  
   AFUDC - equity
     (3,212 )   (2,627 )   (1,351 )   (7,978 )   (3,800 )   (2,796 )
   AFUDC - debt
     (8,792 )   (8,610 )   (12,614 )   (15,874 )   (9,493 )   (5,420 )
Total
   $ 245,438   $ 212,381   $ 251,342   $ 251,487   $ 220,607   $ 192,317  
Fixed charges:
                                      
   Interest expense
   $ 208,559   $ 203,402   $ 219,120   $ 184,859   $ 174,458   $ 171,831  
   Other interest
     3,212     2,627     1,351     7,978     3,800     2,796  
   Portion of rentals representative of the interest factor
     8,163     11,775     9,199     9,151     5,234     5,424  
Total
   $ 219,934   $ 217,804   $ 229,670   $ 201,988   $ 183,492   $ 180,051  
Earnings available for combined fixed charges
   $ 465,372   $ 430,185   $ 481,012   $ 453,475   $ 404,099   $ 372,368  
Ratio of Earnings to Fixed Charges
     2.12 x   1.98 x   2.09 x   2.25 x   2.20 x   2.07 x