EX-12.2 13 ex122-123114.htm EXHIBIT 12.2 EX 12.2 - 12.31.14


Exhibit 12.2
 
ARIZONA PUBLIC SERVICE COMPANY
RATIO OF EARNINGS TO FIXED CHARGES
(dollars in thousands)
 
2014
 
2013
 
2012
 
2011
 
2010
Earnings:
 
 
 
 
 
 
 
 
 
Income from continuing operations attributable to common shareholders
$
421,219

 
$
424,969

 
$
395,497

 
$
336,249

 
$
335,663

Income taxes
237,360

 
245,095

 
244,396

 
192,542

 
170,465

Fixed charges
204,198

 
202,457

 
214,227

 
238,286

 
234,184

Total earnings
$
862,777

 
$
872,521

 
$
854,120

 
$
767,077

 
$
740,312

 
 
 
 
 
 
 
 
 
 
Fixed Charges:
 
 
 
 
 
 
 
 
 
Interest charges
$
193,119

 
$
194,616

 
$
205,533

 
$
229,326

 
$
225,269

Amortization of debt discount
4,168

 
4,046

 
4,215

 
4,616

 
4,559

Estimated interest portion of annual rents
6,911

 
3,795

 
4,479

 
4,344

 
4,356

Total fixed charges
$
204,198

 
$
202,457

 
$
214,227

 
$
238,286

 
$
234,184

 
 
 
 
 
 
 
 
 
 
Ratio of Earnings to Fixed Charges (rounded down)
 
 
 
 
 
 
 
 
 
Earnings:
4.22

 
4.30

 
3.98

 
3.21

 
3.16