Arizona Public Service 10-Q2017 Q3 Quarterly report

Filed: 3 Nov 17, 12:00am

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New words: argument, asserted, calendar, clarification, conclusion, deductibility, disqualification, EGU, endangerment, heard, holder, House, instructed, NLRB, opposed, oral, overseeing, prejudice, premised, Quarterly, reconsider, reimbursement, reminded, repeal, satisfy, spring, TEAM, unplanned, Warren, Woodward

Removed: ALJ, collect, formal, government, incentive, Indian, lack, PacifiCorp, procedural, prudency, resolved, shift, statute, submission, supporting, tier, tribe, unopposed, work

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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,
	2017		2016		2015		2014		2013		2012
Earnings:
Income from continuing operations attributable to common shareholders	$	476,523	$	462,141	$	450,274	$	421,219	$	424,969	$	395,497
Income taxes	243,708		245,842		245,841		237,360		245,095		244,396
Fixed charges	164,256		210,776		199,458		204,198		202,457		214,227
Total earnings	$	884,487	$	918,759	$	895,573	$	862,777	$	872,521	$	854,120
Fixed Charges:
Interest charges	$	154,508	$	197,811	$	187,499	$	193,119	$	194,616	$	205,533
Amortization of debt discount	3,566		4,760		4,793		4,168		4,046		4,215
Estimated interest portion of annual rents	6,182		8,205		7,166		6,911		3,795		4,479
Total fixed charges	$	164,256	$	210,776	$	199,458	$	204,198	$	202,457	$	214,227
Ratio of Earnings to Fixed Charges (rounded down)	5.38		4.35		4.49		4.22		4.30		3.98

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