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Puget Sound Energy Inc, et al. – ‘10-Q’ for 11/1/07 – ‘EX-12.2’

On:  Thursday, 11/1/07, at 7:38pm ET   ·   As of:  11/2/07   ·   For:  11/1/07   ·   Accession #:  1085392-7-93   ·   File #s:  1-04393, 1-16305

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  As Of                Filer                Filing    For·On·As Docs:Size              Issuer               Agent

11/02/07  Puget Sound Energy Inc            10-Q       11/01/07   12:2.8M                                   Puget Energy Inc/WA
          Puget Energy Inc/WA

Quarterly Report   —   Form 10-Q
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 10-Q        Puget Energy 3rd Quarter 2007 Form 10-Q             HTML    947K 
12: 10-Q        Puget Energy 3rd Quarter 2007 Form 10-Q --           PDF    334K 
                          f10q110107                                             
 2: EX-3.I      Articles of Amendment of Puget Energy               HTML     12K 
 3: EX-3.II     Amended and Restated Bylaws of Puget Energy         HTML    149K 
 4: EX-12.1     Puget Energy Computation of Ratios                  HTML    119K 
 5: EX-12.2     Puget Sound Energy Computation of Ratios            HTML    107K 
 6: EX-31.1     Puget Energy CEO Certification                      HTML     13K 
 7: EX-31.2     Puget Energy CFO Cerification                       HTML     12K 
 8: EX-31.3     Puget Sound Energy CEO Certification                HTML     13K 
 9: EX-31.4     Puget Sound Energy CFO Certification                HTML     13K 
10: EX-32.1     CEO Certification                                   HTML     11K 
11: EX-32.2     CFO Certification                                   HTML     10K

EX-12.2   —   Puget Sound Energy Computation of Ratios

This Exhibit is an HTML Document rendered as filed.  [ Alternative Formats ]

 C:   C:   C:   C: 
Exhibit 12.2

 
PUGET SOUND ENERGY           
  
STATEMENT SETTING FORTH COMPUTATIONS OF RATIOS OF       
  
EARNINGS TO FIXED CHARGES           
  
(Dollars in Thousands)           
  
                                     
   
12 Months
                                
   
Ended
                                
   
September 30,
    
Years Ended December 31,       
   
2007
    
2006
    
2005
    
2004
    
2003
    
2002
  
Earnings Available For Fixed Charges:
                                    
Pre-tax income:
                                    
   Income from continuing operations
   $
186,349
     $
176,739
     $
146,769
     $
126,192
     $
120,055
     $
108,948
  
   Income taxes
    
83,660
      
97,227
      
89,628
      
77,176
      
70,939
      
52,836
  
   Income taxes charged to other income - net
    
1,204
      
1,462
      
2,141
       (17 )     (162 )    
2,082
  
   Capitalized interest
     (4,270 )     (7,978 )     (3,800 )     (2,796 )     (2,272 )     (1,397 )
Total
   $
266,943
     $
267,450
     $
234,738
     $
200,555
     $
188,560
     $
162,469
  
Fixed charges:
                                                
   Interest expense
   $
209,319
     $
184,859
     $
174,458
     $
171,831
     $
182,779
     $
192,829
  
   Other interest
    
4,270
      
7,978
      
3,800
      
2,796
      
2,272
      
1,397
  
   Portion of rentals representative of the interest factor
    
8,877
      
9,151
      
5,234
      
5,424
      
4,669
      
5,394
  
Total
   $
222,466
     $
201,988
     $
183,492
     $
180,051
     $
189,720
     $
199,620
  
Earnings available for combined fixed charges
   $
489,409
     $
469,438
     $
418,230
     $
380,606
     $
378,280
     $
362,089
  
Ratio of Earnings to Fixed Charges
    
2.20x
      
2.32x
      
2.28x
      
2.11x
      
1.99x
      
1.81x
  

PUGET SOUND ENERGY                  
STATEMENT SETTING FORTH COMPUTATIONS OF RATIOS OF             
EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED STOCK DIVIDENDS       
(Dollars in Thousands)                  
                                     
   
12 Months
                                
   
Ended
                                
   
September 30,
    
Years Ended December 31,       
   
2007
    
2006
    
2005
    
2004
    
2003
    
2002
  
Earnings Available for Combined Fixed Charges and
                                
   Preferred Dividend Requirements:
                                    
Pre-tax income:
                                    
   Income from continuing operations
   $
186,349
     $
176,739
     $
146,769
     $
126,192
     $
120,055
     $
108,948
  
   Income taxes
    
83,660
      
97,227
      
89,628
      
77,176
      
70,939
      
52,836
  
   Income taxes charged to other income - net
    
1,204
      
1,462
      
2,141
       (17 )     (162 )    
2,082
  
Subtotal
    
271,213
      
275,428
      
238,538
      
203,351
      
190,832
      
163,866
  
   Capitalized interest
     (4,270 )     (7,978 )     (3,800 )     (2,796 )     (2,272 )     (1,397 )
Total
   $
266,943
     $
267,450
     $
234,738
     $
200,555
     $
188,560
     $
162,469
  
Fixed charges:
                                                
   Interest expense
   $
209,319
     $
184,859
     $
174,458
     $
171,831
     $
182,779
     $
192,829
  
   Other interest
    
4,270
      
7,978
      
3,800
      
2,796
      
2,272
      
1,397
  
   Portion of rentals representative of the interest factor
    
8,877
      
9,151
      
5,234
      
5,424
      
4,669
      
5,394
  
Total
   $
222,466
     $
201,988
     $
183,492
     $
180,051
     $
189,720
     $
199,620
  
Earnings Available for Combined Fixed Charges and
                                                
   Preferred Dividend Requirements
   $
489,409
     $
469,438
     $
418,230
     $
380,606
     $
378,280
     $
362,089
  
Dividend Requirement:
                                                
   Fixed charges above
   $
222,466
     $
201,988
     $
183,492
     $
180,051
     $
189,720
     $
199,620
  
   Preferred dividend requirements below
    
-
      
-
      
-
      
-
      
8,188
      
11,779
  
Total
   $
222,466
     $
201,988
     $
183,492
     $
180,051
     $
197,908
     $
211,399
  
Ratio of Earnings to Combined Fixed Charges and
                                                
   Preferred Dividends Requirement
    
2.20x
      
2.32x
      
2.28x
      
2.11x
      
1.91x
      
1.71x
  
Computation of Preferred Dividend Requirements:
                                                
    (a) Pre-tax income
   $
271,213
     $
275,428
     $
238,538
     $
203,351
     $
190,832
     $
163,866
  
    (b) Income from continuing operations
   $
186,349
     $
176,739
     $
146,769
     $
126,192
     $
120,055
     $
108,948
  
    (c) Ratio of (a) to (b)
    
1.4554
      
1.5584
      
1.6253
      
1.6114
      
1.5895
      
1.5041
  
    (d) Preferred dividends
   $
-
     $
-
     $
-
     $
-
     $
5,151
     $
7,831
  
  Preferred dividend requirements [(d) multiplied by (c)]
   $
-
     $
-
     $
-
     $
-
     $
8,188
     $
11,779
  

Dates Referenced Herein   and   Documents Incorporated by Reference

This ‘10-Q’ Filing    Date    Other Filings
12/31/074
Filed as of:11/2/078-K,  DEFA14A
Filed on / For Period End:11/1/078-K
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Filing Submission 0001085392-07-000093   –   Alternative Formats (Word / Rich Text, HTML, Plain Text, et al.)
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