EX-12.2 4 pe201210k-exhibit122.htm STATEMENT SETTING FORTH COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES OF PU PE 2012 10K - Exhibit 12.2


 
 
 
 
 
 
 
 
 
 Exhibit 12.2
PUGET SOUND ENERGY
STATEMENT SETTING FORTH COMPUTATIONS OF RATIOS OF
EARNINGS TO FIXED CHARGES
(Dollars in Thousands)
 
 
Years Ended December 31,
 
2012
 
2011
 
2010
 
2009
 
2008
 
Earnings Available For Fixed Charges:
 
 
 
 
 
 
 
 
 
 
Pre-tax income:
 
 
 
 
 
 
 
 
 
 
Income from continuing operations before income taxes
$
505,478

 
$
282,237

 
$
26,217

 
$
226,896

 
$
223,618

 
AFUDC - equity
(25,469
)
 
(32,430
)
 
(12,677
)
 
(4,177
)
 
(2,627
)
 
AFUDC - debt
(22,216
)
 
(29,949
)
 
(14,157
)
 
(9,215
)
 
(8,610
)
 
Total
$
457,793

 
$
219,858

 
$
(617
)
 
$
213,504

 
$
212,381

 
Fixed charges:
 
 
 

 
 

 
 

 
 

 
Interest expense
$
247,013

 
$
231,416

 
$
235,011

 
$
211,742

 
$
203,402

 
Other interest
25,469

 
32,430

 
12,677

 
4,177

 
2,627

 
Portion of rentals representative of the interest factor
10,251

 
8,767

 
5,391

 
10,212

 
11,775

 
Total
$
282,733

 
$
272,613

 
$
253,079

 
$
226,131

 
$
217,804

 
Earnings available for combined fixed charges
$
740,526

 
$
492,471

 
$
252,462

 
$
439,635

 
$
430,185

 
 
 
 
 
 
 
 
 
 
 
 
Ratio of Earnings to Fixed Charges
2.62

x
1.81

x
1.00

x
1.94

x
1.98

x