Attached files
| file | filename |
|---|---|
| 10-Q - FORM 10-Q - ARIZONA PUBLIC SERVICE CO | c98580e10vq.htm |
| EX-10.4 - EXHIBIT 10.4 - ARIZONA PUBLIC SERVICE CO | c98580exv10w4.htm |
| EX-31.3 - EXHIBIT 31.3 - ARIZONA PUBLIC SERVICE CO | c98580exv31w3.htm |
| EX-31.2 - EXHIBIT 31.2 - ARIZONA PUBLIC SERVICE CO | c98580exv31w2.htm |
| EX-12.2 - EXHIBIT 12.2 - ARIZONA PUBLIC SERVICE CO | c98580exv12w2.htm |
| EX-10.2 - EXHIBIT 10.2 - ARIZONA PUBLIC SERVICE CO | c98580exv10w2.htm |
| EX-31.4 - EXHIBIT 31.4 - ARIZONA PUBLIC SERVICE CO | c98580exv31w4.htm |
| EX-10.1 - EXHIBIT 10.1 - ARIZONA PUBLIC SERVICE CO | c98580exv10w1.htm |
| EX-10.3 - EXHIBIT 10.3 - ARIZONA PUBLIC SERVICE CO | c98580exv10w3.htm |
| EX-12.1 - EXHIBIT 12.1 - ARIZONA PUBLIC SERVICE CO | c98580exv12w1.htm |
| EX-32.2 - EXHIBIT 32.2 - ARIZONA PUBLIC SERVICE CO | c98580exv32w2.htm |
| EX-32.1 - EXHIBIT 32.1 - ARIZONA PUBLIC SERVICE CO | c98580exv32w1.htm |
| EX-31.1 - EXHIBIT 31.1 - ARIZONA PUBLIC SERVICE CO | c98580exv31w1.htm |
Exhibit 12.3
PINNACLE WEST CAPITAL CORPORATION
COMPUTATION OF EARNINGS TO FIXED CHARGES
(dollars in thousands)
COMPUTATION OF EARNINGS TO FIXED CHARGES
(dollars in thousands)
| Three Months | ||||||||||||||||||||||||
| Ended | ||||||||||||||||||||||||
| March 31, | Twelve Months Ended December 31, | |||||||||||||||||||||||
| 2010 | 2009 | 2008 | 2007 | 2006 | 2005 | |||||||||||||||||||
Earnings: |
||||||||||||||||||||||||
Income (loss) from
continuing operations
attributable to common
shareholders |
$ | (5,889 | ) | $ | 82,006 | $ | 231,304 | $ | 300,436 | $ | 308,972 | $ | 223,933 | |||||||||||
Income taxes |
(15,480 | ) | 37,827 | 76,897 | 152,006 | 151,122 | 127,361 | |||||||||||||||||
Fixed charges |
63,640 | 250,647 | 234,682 | 228,112 | 217,566 | 206,657 | ||||||||||||||||||
Total earnings |
$ | 42,271 | $ | 370,480 | $ | 542,883 | $ | 680,554 | $ | 677,660 | $ | 557,951 | ||||||||||||
Fixed Charges: |
||||||||||||||||||||||||
Interest expense |
$ | 62,054 | $ | 246,606 | $ | 230,145 | $ | 223,935 | $ | 214,078 | $ | 203,748 | ||||||||||||
Estimated interest portion
of annual rents |
1,586 | 4,041 | 4,537 | 4,177 | 3,488 | 2,909 | ||||||||||||||||||
Total fixed charges |
$ | 63,640 | $ | 250,647 | $ | 234,682 | $ | 228,112 | $ | 217,566 | $ | 206,657 | ||||||||||||
Preferred Stock Dividend
Requirements: |
||||||||||||||||||||||||
Income (loss) before
income taxes |
$ | (21,369 | ) | $ | 119,833 | $ | 308,201 | $ | 452,442 | $ | 460,094 | $ | 351,294 | |||||||||||
Net income (loss) from continuing
operations |
(5,889 | ) | 82,006 | 231,304 | 300,436 | 308,972 | 223,933 | |||||||||||||||||
Ratio of income before
income taxes to net income |
3.63 | 1.46 | 1.33 | 1.51 | 1.49 | 1.57 | ||||||||||||||||||
Preferred stock dividends |
— | — | — | — | — | — | ||||||||||||||||||
Preferred stock dividend
requirements — ratio
(above) times preferred
stock dividends |
$ | — | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||
Fixed Charges and Preferred
Stock Dividend
Requirements: |
||||||||||||||||||||||||
Fixed charges |
$ | 63,640 | $ | 250,647 | $ | 234,682 | $ | 228,112 | $ | 217,566 | $ | 206,657 | ||||||||||||
Preferred stock dividend
requirements |
— | — | — | — | — | — | ||||||||||||||||||
Total |
$ | 63,640 | $ | 250,647 | $ | 234,682 | $ | 228,112 | $ | 217,566 | $ | 206,657 | ||||||||||||
Ratio of Earnings to Fixed
Charges (rounded down) |
0.66 | 1.47 | 2.31 | 2.98 | 3.11 | 2.69 | ||||||||||||||||||