EX-12.2 6 a093015exhibit122.htm EXHIBIT 12.2 Exhibit


Exhibit 12.2
 
ARIZONA PUBLIC SERVICE COMPANY
RATIO OF EARNINGS TO FIXED CHARGES
(dollars in thousands)
 
 
Nine Months
Ended September 30,
 
Twelve Months Ended December 31,
 
2015
 
2014
 
2013
 
2012
 
2011
 
2010
Earnings:
 

 
 

 
 

 
 

 
 

 
 

Income from continuing operations attributable to common shareholders
$
406,417

 
$
421,219

 
$
424,969

 
$
395,497

 
$
336,249

 
$
335,663

Income taxes
221,645

 
237,360

 
245,095

 
244,396

 
192,542

 
170,465

Fixed charges
149,493

 
204,198

 
202,457

 
214,227

 
238,286

 
234,184

Total earnings
$
777,555

 
$
862,777

 
$
872,521

 
$
854,120

 
$
767,077

 
$
740,312

Fixed Charges:
 

 
 

 
 

 
 

 
 

 
 

Interest charges
$
140,604

 
$
193,119

 
$
194,616

 
$
205,533

 
$
229,326

 
$
225,269

Amortization of debt discount
3,455

 
4,168

 
4,046

 
4,215

 
4,616

 
4,559

Estimated interest portion of annual rents
5,434

 
6,911

 
3,795

 
4,479

 
4,344

 
4,356

Total fixed charges
$
149,493

 
$
204,198

 
$
202,457

 
$
214,227

 
$
238,286

 
$
234,184

Ratio of Earnings to Fixed Charges (rounded down)
5.20

 
4.22

 
4.30

 
3.98

 
3.21

 
3.16