EX-12.2 4 exhibit122.htm STATEMENT SETTING FORTH COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES OF 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)
  
                               
                               
                               
                               
   
Years Ended December 31,
  
   
2010
    
2009
    
2008
    
2007
    
2006
  
Earnings Available For Fixed Charges:
                              
Pre-tax income:
                              
   Income from continuing operations before income taxes
   $ 26,217     $ 226,896     $ 223,618     $ 265,308     $ 275,339  
   AFUDC - equity
     (12,677 )     (4,177 )     (2,627 )     (1,351 )     (7,978 )
   AFUDC - debt
     (14,157 )     (9,215 )     (8,610 )     (12,614 )     (15,874 )
Total
   $ (617 )   $ 213,504     $ 212,381     $ 251,342     $ 251,487  
Fixed charges:
                                        
   Interest expense
   $ 235,011     $ 211,742     $ 203,402     $ 219,120     $ 184,859  
   Other interest
     12,677       4,177       2,627       1,351       7,978  
   Portion of rentals representative of the interest factor
     5,391       10,212       11,775       9,199       9,151  
Total
   $ 253,079     $ 226,131     $ 217,804     $ 229,670     $ 201,988  
Earnings available for combined fixed charges
   $ 252,462     $ 439,635     $ 430,185     $ 481,012     $ 453,475  
                                         
Ratio of Earnings to Fixed Charges
     1.00 x     1.94 x     1.98 x     2.09 x     2.25 x