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Content analysis
?| Positive | ||
| Negative | ||
| Uncertain | ||
| Constraining | ||
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H.S. freshman Avg
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Exhibit 12.2
ARIZONA PUBLIC SERVICE COMPANY
RATIO OF EARNINGS TO FIXED CHARGES
(dollars in thousands)
|
| Nine Months |
| Twelve Months Ended December 31, |
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|
| 2012 |
| 2011 |
| 2010 |
| 2009 |
| 2008 |
| 2007 |
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Earnings: |
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Income from continuing operations attributable to common shareholders |
| $ | 368,654 |
| $ | 336,249 |
| $ | 335,663 |
| $ | 251,225 |
| $ | 262,344 |
| $ | 283,940 |
|
Income taxes |
| 226,773 |
| 192,542 |
| 170,465 |
| 152,574 |
| 107,261 |
| 151,157 |
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Fixed charges |
| 162,254 |
| 238,286 |
| 234,184 |
| 227,274 |
| 206,896 |
| 195,144 |
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Total earnings |
| $ | 757,681 |
| $ | 767,077 |
| $ | 740,312 |
| $ | 631,073 |
| $ | 576,501 |
| $ | 630,241 |
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Fixed Charges: |
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Interest charges |
| $ | 155,699 |
| $ | 229,326 |
| $ | 225,269 |
| $ | 218,969 |
| $ | 197,964 |
| $ | 186,702 |
|
Amortization of debt discount |
| 3,182 |
| 4,616 |
| 4,559 |
| 4,675 |
| 4,702 |
| 4,639 |
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Estimated interest portion of annual rents |
| 3,373 |
| 4,344 |
| 4,356 |
| 3,630 |
| 4,230 |
| 3,803 |
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Total fixed charges |
| $ | 162,254 |
| $ | 238,286 |
| $ | 234,184 |
| $ | 227,274 |
| $ | 206,896 |
| $ | 195,144 |
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Ratio of Earnings to Fixed Charges (rounded down) |
| 4.66 |
| 3.21 |
| 3.16 |
| 2.77 |
| 2.78 |
| 3.22 |
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