EX-12.2 9 exhibit122-063018.htm EXHIBIT 12.2 Exhibit


Exhibit 12.2
 
ARIZONA PUBLIC SERVICE COMPANY
RATIO OF EARNINGS TO FIXED CHARGES
(dollars in thousands)
 
 
Six Months
Ended
June 30,
 
Twelve Months Ended December 31,
 
2018
 
2017
 
2016
 
2015
 
2014
 
2013
Earnings:
 

 
 

 
 

 
 

 
 

 
 

Net income attributable to common shareholders
$
187,423

 
$
504,309

 
$
462,141

 
$
450,274

 
$
421,219

 
$
424,969

Income taxes
47,882

 
269,168

 
245,842

 
245,841

 
237,360

 
245,095

Fixed charges
118,784

 
222,667

 
210,776

 
199,458

 
204,198

 
202,457

Total earnings
$
354,089


$
996,144


$
918,759


$
895,573


$
862,777


$
872,521

Fixed Charges:
 

 
 

 
 

 
 

 
 

 
 

Interest charges
$
113,889

 
$
214,163

 
$
202,571

 
$
192,292

 
$
197,287

 
$
198,662

Estimated interest portion of annual rents
4,895

 
8,504

 
8,205

 
7,166

 
6,911

 
3,795

Total fixed charges
$
118,784


$
222,667


$
210,776


$
199,458


$
204,198


$
202,457

Ratio of Earnings to Fixed Charges (rounded down)
2.98

 
4.47

 
4.35

 
4.49

 
4.22

 
4.30