EX-12.2 6 a12-28943_1ex12d2.htm EX-12.2

Exhibit 12.2

 

ARIZONA PUBLIC SERVICE COMPANY

RATIO OF EARNINGS TO FIXED CHARGES

(dollars in thousands)

 

 

 

2012

 

2011

 

2010

 

2009

 

2008

 

Earnings:

 

 

 

 

 

 

 

 

 

 

 

Income from continuing operations attributable to common shareholders

 

$

395,497

 

$

336,249

 

$

335,663

 

$

251,225

 

$

262,344

 

Income taxes

 

244,396

 

192,542

 

170,465

 

152,574

 

107,261

 

Fixed charges

 

214,227

 

238,286

 

234,184

 

227,274

 

206,896

 

Total earnings

 

$

854,120

 

$

767,077

 

$

740,312

 

$

631,073

 

$

576,501

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed Charges:

 

 

 

 

 

 

 

 

 

 

 

Interest charges

 

$

205,533

 

$

229,326

 

$

225,269

 

$

218,969

 

$

197,964

 

Amortization of debt discount

 

4,215

 

4,616

 

4,559

 

4,675

 

4,702

 

Estimated interest portion of annual rents

 

4,479

 

4,344

 

4,356

 

3,630

 

4,230

 

Total fixed charges

 

$

214,227

 

$

238,286

 

$

234,184

 

$

227,274

 

$

206,896

 

 

 

 

 

 

 

 

 

 

 

 

 

Ratio of Earnings to Fixed Charges (rounded down)

 

3.98

 

3.21

 

3.16

 

2.77

 

2.78