Exhibit 12.01
AMERICAN STATES WATER COMPANY
RATIO OF EARNINGS TO FIXED CHARGES
(In Thousands)
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| For the years ended December 31, |
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| 2007 |
| 2008 |
| 2009 |
| 2010 |
| 2011 |
| For the six |
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Earnings: |
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Pre-tax income from continuing operations |
| $ | 47,311 |
| $ | 41,963 |
| $ | 48,075 |
| $ | 54,126 |
| $ | 72,086 |
| $ | 42,628 |
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Add: Fixed charges |
| 22,070 |
| 21,997 |
| 22,985 |
| 22,683 |
| 24,648 |
| 12,296 |
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Earnings available for fixed charges |
| $ | 69,381 |
| $ | 63,960 |
| $ | 71,060 |
| $ | 76,809 |
| $ | 96,734 |
| $ | 54,924 |
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Fixed charges: |
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Interest expense (1) |
| $ | 21,102 |
| $ | 20,877 |
| $ | 21,899 |
| $ | 21,636 |
| $ | 23,681 |
| $ | 11,790 |
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Interest component of rentals (2) |
| 968 |
| 1,120 |
| 1,086 |
| 1,047 |
| 967 |
| 506 |
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Total fixed charges |
| $ | 22,070 |
| $ | 21,997 |
| $ | 22,985 |
| $ | 22,683 |
| $ | 24,648 |
| $ | 12,296 |
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Ratio of earnings to fixed charges |
| 3.14 |
| 2.91 |
| 3.09 |
| 3.39 |
| 3.92 |
| 4.47 |
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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 approximate interest factor.