EX-12.1 2 cwt-20171231xex121.htm EXHIBIT 12.1 Exhibit





Exhibit 12.1

California Water Service Group
Computation of Ratios of Earnings to Fixed Charges
(In thousands except ratios)

 
Years Ended December 31,
 
2017
 
2016
 
2015
 
2014
 
2013
Earnings:
 
Income before income tax expense
$
100,544

 
$
75,491

 
$
70,307

 
$
84,710

 
$
67,723

Fixed charges interest expense
36,570

 
33,748

 
29,467

 
28,765

 
31,179

Allowance for funds used during construction
(6,110
)
 
(2,965
)
 
(1,915
)
 
(1,535
)
 
(2,038
)
Total
131,004

 
106,274

 
97,859

 
111,940

 
96,864

Fixed Charges:
 
 
 
 


 


 


Interest expensed & capitalized, & amortization of capitalized expense related to indebtedness
36,288

 
33,466

 
29,185

 
28,483

 
30,897

Estimated interest component of rent expense
$
282

 
$
282

 
$
282

 
$
282

 
$
282

Total
36,570

 
33,748


29,467

 
28,765

 
31,179

Ratio of earnings to fixed charges
3.58

 
3.15

 
3.32

 
3.89

 
3.11