EX-12 3 dex12.htm COMPUTATION OF RATIO OF EARNINGS Computation of Ratio of Earnings

Exhibit 12

Hawaiian Electric Industries Capital Trust I
COMPUTATION OF RATIO OF EARNINGS TO COMBINED FIXED CHARGES
AND PREFERRED SECURITIES DISTRIBUTIONS
(unaudited)

 

 

Nine months ended September 30,

 

 

 

 

(dollars in thousands)

 

2002

 

2001

 

 

 

 

Earnings

 

$

6,464

 

$

6,464

 

 

 

 

 

Fixed charges

 

$

—  

 

$

—  

 

Preferred securities distributions

 

 

6,270

 

 

6,270

 

 

 

 

 

Total combined fixed charges and preferred securities distributions

 

$

6,270

 

$

6,270

 

 

 

 

 

Ratio of earnings to combined fixed charges and preferred securities distributions

 

 

1.03

 

 

1.03