Exhibit 12.2
ARIZONA PUBLIC SERVICE COMPANY
COMPUTATION OF EARNINGS TO FIXED CHARGES
(dollars in thousands)
COMPUTATION OF EARNINGS TO FIXED CHARGES
(dollars in thousands)
| Nine Months | ||||||||||||||||||||||||
| Ended | ||||||||||||||||||||||||
| September 30, | Twelve Months Ended December 31, | |||||||||||||||||||||||
| 2010 | 2009 | 2008 | 2007 | 2006 | 2005 | |||||||||||||||||||
| Earnings: | ||||||||||||||||||||||||
| Income from continuing operations attributable to common shareholder | $ | 327,852 | $ | 251,225 | $ | 262,344 | $ | 283,940 | $ | 269,730 | $ | 170,479 | ||||||||||||
| Income taxes | 173,320 | 152,574 | 107,261 | 151,157 | 138,927 | 98,010 | ||||||||||||||||||
| Fixed charges | 174,247 | 227,274 | 206,896 | 195,144 | 184,059 | 171,126 | ||||||||||||||||||
| Total earnings | $ | 675,419 | $ | 631,073 | $ | 576,501 | $ | 630,241 | $ | 592,716 | $ | 439,615 | ||||||||||||
| Fixed Charges: | ||||||||||||||||||||||||
| Interest charges | $ | 167,652 | $ | 218,969 | $ | 197,964 | $ | 186,702 | $ | 176,459 | $ | 164,626 | ||||||||||||
| Amortization of debt discount | 3,376 | 4,675 | 4,702 | 4,639 | 4,363 | 4,085 | ||||||||||||||||||
| Estimated interest portion of annual rents | 3,219 | 3,630 | 4,230 | 3,803 | 3,237 | 2,415 | ||||||||||||||||||
| Total fixed charges | $ | 174,247 | $ | 227,274 | $ | 206,896 | $ | 195,144 | $ | 184,059 | $ | 171,126 | ||||||||||||
| Ratio of Earnings to Fixed Charges (rounded down) | 3.87 | 2.77 | 2.78 | 3.22 | 3.22 | 2.56 | ||||||||||||||||||