EX-12.2 3 a13-13780_1ex12d2.htm EX-12.2

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,

 

 

 

2013

 

2012

 

2011

 

2010

 

2009

 

2008

 

Earnings:

 

 

 

 

 

 

 

 

 

 

 

 

 

Income from continuing operations attributable to common shareholders

 

$

159,991

 

$

395,497

 

$

336,249

 

$

335,663

 

$

251,225

 

$

262,344

 

Income taxes

 

92,580

 

244,396

 

192,542

 

170,465

 

152,574

 

107,261

 

Fixed charges

 

101,036

 

214,227

 

238,286

 

234,184

 

227,274

 

206,896

 

Total earnings

 

$

353,607

 

$

854,120

 

$

767,077

 

$

740,312

 

$

631,073

 

$

576,501

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed Charges:

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest charges

 

$

97,161

 

$

205,533

 

$

229,326

 

$

225,269

 

$

218,969

 

$

197,964

 

Amortization of debt discount

 

1,993

 

4,215

 

4,616

 

4,559

 

4,675

 

4,702

 

Estimated interest portion of annual rents

 

1,882

 

4,479

 

4,344

 

4,356

 

3,630

 

4,230

 

Total fixed charges

 

$

101,036

 

$

214,227

 

$

238,286

 

$

234,184

 

$

227,274

 

$

206,896

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ratio of Earnings to Fixed Charges (rounded down)

 

3.49

 

3.98

 

3.21

 

3.16

 

2.77

 

2.78