EX-12.2 6 a14-8980_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,

 

 

 

2014

 

2013

 

2012

 

2011

 

2010

 

2009

 

Earnings:

 

 

 

 

 

 

 

 

 

 

 

 

 

Income from continuing operations attributable to common shareholders

 

$

19,518

 

$

424,969

 

$

395,497

 

$

336,249

 

$

335,663

 

$

251,225

 

Income taxes

 

9,268

 

245,095

 

244,396

 

192,542

 

170,465

 

152,574

 

Fixed charges

 

53,084

 

202,457

 

214,227

 

238,286

 

234,184

 

227,274

 

Total earnings

 

$

81,870

 

$

872,521

 

$

854,120

 

$

767,077

 

$

740,312

 

$

631,073

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed Charges:

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest charges

 

$

50,309

 

$

194,616

 

$

205,533

 

$

229,326

 

$

225,269

 

$

218,969

 

Amortization of debt discount

 

1,011

 

4,046

 

4,215

 

4,616

 

4,559

 

4,675

 

Estimated interest portion of annual rents

 

1,764

 

3,795

 

4,479

 

4,344

 

4,356

 

3,630

 

Total fixed charges

 

$

53,084

 

$

202,457

 

$

214,227

 

$

238,286

 

$

234,184

 

$

227,274

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ratio of Earnings to Fixed Charges (rounded down)

 

1.54

 

4.30

 

3.98

 

3.21

 

3.16

 

2.77