EX-12.2 3 exhibit122.htm STATEMENT SETTING FORTH COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES (2005 THROUGH 2009 AND 12 MONTHS ENDED MARCH 31, 2010) 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
                      
 
March 31,
  
Years Ended December 31,
  
 
2010
  
2009
  
2008
  
2007
  
2006
  
2005
  
Earnings Available For Fixed Charges:
                        
Pre-tax income:
                        
   Income from continuing operations before income taxes
 $ 55,574   $ 226,896   $ 223,618   $ 265,308   $ 275,339   $ 233,900  
   AFUDC - equity
   (5,596 )   (4,177 )   (2,627 )   (1,351 )   (7,978 )   (3,800 )
   AFUDC - debt
   (10,283 )   (9,214 )   (8,610 )   (12,614 )   (15,874 )   (9,493 )
Total
 $ 39,695   $ 213,505   $ 212,381   $ 251,342   $ 251,487   $ 220,607  
Fixed charges:
                                    
   Interest expense
 $ 220,776   $ 211,742   $ 203,402   $ 219,120   $ 184,859   $ 174,458  
   Other interest
   5,596     4,177     2,627     1,351     7,978     3,800  
   Portion of rentals representative of the interest factor
   9,450     10,212     11,775     9,199     9,151     5,234  
Total
 $ 235,822   $ 226,131   $ 217,804   $ 229,670   $ 201,988   $ 183,492  
Earnings available for combined fixed charges
 $ 275,517   $ 439,636   $ 430,185   $ 481,012   $ 453,475   $ 404,099  
                                     
Ratio of Earnings to Fixed Charges
   1.17 x   1.94 x   1.98 x   2.09 x   2.25 x   2.20 x