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Exhibit 12.2
ARIZONA PUBLIC SERVICE COMPANY
COMPUTATION OF EARNINGS TO FIXED CHARGES
(dollars in thousands)
ARIZONA PUBLIC SERVICE COMPANY
COMPUTATION OF EARNINGS TO FIXED CHARGES
(dollars in thousands)
| Nine Months | ||||||||||||||||||||||||
| Ended | ||||||||||||||||||||||||
| September 30, | Twelve Months Ended December 31, | |||||||||||||||||||||||
| 2007 | 2006 | 2005 | 2004 | 2003 | 2002 | |||||||||||||||||||
| Earnings: | ||||||||||||||||||||||||
| Income from continuing operations | $ | 283,664 | $ | 269,730 | $ | 170,479 | $ | 199,627 | $ | 180,937 | $ | 199,343 | ||||||||||||
| Income taxes | 143,677 | 138,927 | 98,010 | 120,030 | 86,854 | 126,805 | ||||||||||||||||||
| Fixed charges | 151,085 | 191,174 | 178,437 | 181,372 | 181,793 | 168,985 | ||||||||||||||||||
| Total Earnings | $ | 578,426 | $ | 599,831 | $ | 446,926 | $ | 501,029 | $ | 449,584 | $ | 495,133 | ||||||||||||
| Fixed Charges: | ||||||||||||||||||||||||
| Interest charges | $ | 127,455 | $ | 158,769 | $ | 145,502 | $ | 146,983 | $ | 147,610 | $ | 133,878 | ||||||||||||
| Amortization of debt discount | 3,477 | 4,363 | 4,085 | 4,854 | 3,337 | 2,888 | ||||||||||||||||||
| Estimated interest portion of annual rents | 20,153 | 28,042 | 28,850 | 29,535 | 30,846 | 32,219 | ||||||||||||||||||
| Total Fixed Charges | $ | 151,085 | $ | 191,174 | $ | 178,437 | $ | 181,372 | $ | 181,793 | $ | 168,985 | ||||||||||||
| Ratio of Earnings to Fixed Charges (rounded down) | 3.82 | 3.13 | 2.50 | 2.76 | 2.47 | 2.93 | ||||||||||||||||||