EX-12.2 7 a12-8451_1ex12d2.htm EX-12.2

Exhibit 12.2

 

ARIZONA PUBLIC SERVICE COMPANY

RATIO OF EARNINGS TO FIXED CHARGES

(dollars in thousands)

 

 

 

Three Months
Ended
March 31,

 

Twelve Months Ended December 31,

 

 

 

2012

 

2011

 

2010

 

2009

 

2008

 

2007

 

Earnings:

 

 

 

 

 

 

 

 

 

 

 

 

 

Income (loss) from continuing operations attributable to common shareholders

 

$

(4,105

)

$

336,249

 

$

335,663

 

$

251,225

 

$

262,344

 

$

283,940

 

Income taxes

 

(2,520

)

192,542

 

170,465

 

152,574

 

107,261

 

151,157

 

Fixed charges

 

57,005

 

238,286

 

234,184

 

227,274

 

206,896

 

195,144

 

Total earnings

 

$

50,380

 

$

767,077

 

$

740,312

 

$

631,073

 

$

576,501

 

$

630,241

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed Charges:

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest charges

 

$

54,772

 

$

229,326

 

$

225,269

 

$

218,969

 

$

197,964

 

$

186,702

 

Amortization of debt discount

 

1,060

 

4,616

 

4,559

 

4,675

 

4,702

 

4,639

 

Estimated interest portion of annual rents

 

1,173

 

4,344

 

4,356

 

3,630

 

4,230

 

3,803

 

Total fixed charges

 

$

57,005

 

$

238,286

 

$

234,184

 

$

227,274

 

$

206,896

 

$

195,144

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ratio of Earnings to Fixed Charges (rounded down)

 

0.88

 

3.21

 

3.16

 

2.77

 

2.78

 

3.22