Attached files
| file | filename |
|---|---|
| 8-K - 8-K - Golden State Water CO | a11-10307_18k.htm |
| EX-4.1 - EX-4.1 - Golden State Water CO | a11-10307_1ex4d1.htm |
| EX-1.1 - EX-1.1 - Golden State Water CO | a11-10307_1ex1d1.htm |
| EX-5.1 - EX-5.1 - Golden State Water CO | a11-10307_1ex5d1.htm |
EXHIBIT 12.1
GOLDEN STATE WATER COMPANY
RATIO OF EARNINGS TO FIXED CHARGES
(In Thousands)
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For The Year Ended December 31 |
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2006 |
|
2007 |
|
2008 |
|
2009 |
|
2010 |
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Earnings |
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|
|
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|
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|
|
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Pre-tax income from continuing operations |
|
$ |
39,394 |
|
$ |
46,979 |
|
$ |
45,094 |
|
$ |
43,182 |
|
$ |
44,193 |
|
|
Add: Fixed charges |
|
20,007 |
|
20,967 |
|
20,633 |
|
22,347 |
|
22,094 |
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|
Earnings available for fixed charges |
|
$ |
59,401 |
|
$ |
67,946 |
|
$ |
65,727 |
|
$ |
65,529 |
|
$ |
66,287 |
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|
|
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|
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Fixed charges |
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|
|
|
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|
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|
|
|
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Interest Expense (1) |
|
$ |
19,186 |
|
$ |
20,063 |
|
$ |
19,651 |
|
$ |
21,398 |
|
$ |
21,215 |
|
|
Interest component of rentals (2) |
|
821 |
|
904 |
|
982 |
|
949 |
|
879 |
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|
Total fixed charges |
|
$ |
20,007 |
|
$ |
20,967 |
|
$ |
20,633 |
|
$ |
22,347 |
|
$ |
22,094 |
|
|
|
|
|
|
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Ratio of earnings to fixed charges |
|
2.97 |
|
3.24 |
|
3.19 |
|
2.93 |
|
3.00 |
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(1) Includes amortization of debt issuance costs.
(2) Reflects one-third of rental expense under operating leases considered to represent an appropriate interest.