Exhibit 12.2
ARIZONA PUBLIC SERVICE COMPANY
COMPUTATION OF EARNINGS TO FIXED CHARGES
($000’s)
COMPUTATION OF EARNINGS TO FIXED CHARGES
($000’s)
| Six Months | ||||||||||||||||||||||||
| Ended | Twelve Months Ended | |||||||||||||||||||||||
| June 30, | December 31, | |||||||||||||||||||||||
| 2005 | 2004 | 2003 | 2002 | 2001 | 2000 | |||||||||||||||||||
| Earnings: | ||||||||||||||||||||||||
| Income From Continuing Operations | $ | 91,043 | $ | 199,627 | $ | 180,937 | $ | 199,343 | $ | 280,688 | $ | 306,594 | ||||||||||||
| Income Taxes | 60,538 | 120,030 | 86,854 | 126,805 | 183,136 | 195,665 | ||||||||||||||||||
| Fixed Charges | 91,171 | 181,372 | 181,793 | 168,985 | 166,939 | 179,381 | ||||||||||||||||||
| Total Earnings | $ | 242,752 | $ | 501,029 | $ | 449,584 | $ | 495,133 | $ | 630,763 | $ | 681,640 | ||||||||||||
| Fixed Charges: | ||||||||||||||||||||||||
| Interest Charges | $ | 74,375 | $ | 146,983 | $ | 147,610 | $ | 133,878 | $ | 130,525 | $ | 141,886 | ||||||||||||
| Amortization of Debt Discount | 2,192 | 4,854 | 3,337 | 2,888 | 2,650 | 2,105 | ||||||||||||||||||
| Estimated Interest Portion of Annual Rents | 14,604 | 29,535 | 30,846 | 32,219 | 33,764 | 35,390 | ||||||||||||||||||
| Total Fixed Charges | $ | 91,171 | $ | 181,372 | $ | 181,793 | $ | 168,985 | $ | 166,939 | $ | 179,381 | ||||||||||||
| Ratio of Earnings to Fixed Charges (rounded down) | 2.66 | 2.76 | 2.47 | 2.93 | 3.77 | 3.79 | ||||||||||||||||||