Attached files
file | filename |
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10-Q - FORM 10-Q - ARIZONA PUBLIC SERVICE CO | c91385e10vq.htm |
EX-32.2 - EXHIBIT 32.2 - ARIZONA PUBLIC SERVICE CO | c91385exv32w2.htm |
EX-31.3 - EXHIBIT 31.3 - ARIZONA PUBLIC SERVICE CO | c91385exv31w3.htm |
EX-31.4 - EXHIBIT 31.4 - ARIZONA PUBLIC SERVICE CO | c91385exv31w4.htm |
EX-31.2 - EXHIBIT 31.2 - ARIZONA PUBLIC SERVICE CO | c91385exv31w2.htm |
EX-32.1 - EXHIBIT 32.1 - ARIZONA PUBLIC SERVICE CO | c91385exv32w1.htm |
EX-12.1 - EXHIBIT 12.1 - ARIZONA PUBLIC SERVICE CO | c91385exv12w1.htm |
EX-31.1 - EXHIBIT 31.1 - ARIZONA PUBLIC SERVICE CO | c91385exv31w1.htm |
EX-12.2 - EXHIBIT 12.2 - ARIZONA PUBLIC SERVICE CO | c91385exv12w2.htm |
Exhibit 12.3
PINNACLE WEST CAPITAL CORPORATION
COMPUTATION OF EARNINGS TO FIXED CHARGES
AND PREFERRED STOCK DIVIDEND REQUIREMENTS
(dollars in thousands)
COMPUTATION OF EARNINGS TO FIXED CHARGES
AND PREFERRED STOCK DIVIDEND REQUIREMENTS
(dollars in thousands)
Nine Months | ||||||||||||||||||||||||
Ended | ||||||||||||||||||||||||
September 30, | Twelve Months Ended December 31, | |||||||||||||||||||||||
2009 | 2008 | 2007 | 2006 | 2005 | 2004 | |||||||||||||||||||
Earnings: |
||||||||||||||||||||||||
Income from
continuing operations |
$ | 106,787 | $ | 225,298 | $ | 299,960 | $ | 316,265 | $ | 227,288 | $ | 242,887 | ||||||||||||
Income taxes |
45,307 | 73,009 | 151,697 | 155,855 | 129,533 | 133,771 | ||||||||||||||||||
Fixed charges |
192,394 | 241,703 | 235,429 | 225,119 | 214,430 | 214,803 | ||||||||||||||||||
Total earnings |
$ | 344,488 | $ | 540,010 | $ | 687,086 | $ | 697,239 | $ | 571,251 | $ | 591,461 | ||||||||||||
Fixed Charges: |
||||||||||||||||||||||||
Interest expense |
$ | 174,985 | $ | 216,017 | $ | 208,245 | $ | 196,826 | $ | 185,087 | $ | 183,527 | ||||||||||||
Estimated interest
portion of annual
rents |
17,409 | 25,686 | 27,184 | 28,293 | 29,343 | 31,276 | ||||||||||||||||||
Total fixed charges |
$ | 192,394 | $ | 241,703 | $ | 235,429 | $ | 225,119 | $ | 214,430 | $ | 214,803 | ||||||||||||
Preferred Stock Dividend
Requirements: |
||||||||||||||||||||||||
Income before income
taxes |
$ | 152,094 | $ | 298,307 | $ | 451,657 | $ | 472,120 | $ | 356,821 | $ | 376,658 | ||||||||||||
Net income from
continuing operations |
106,787 | 225,298 | 299,960 | 316,265 | 227,288 | 242,887 | ||||||||||||||||||
Ratio of income before
income taxes to net
income |
1.424 | 1.324 | 1.506 | 1.493 | 1.570 | 1.551 | ||||||||||||||||||
Preferred stock dividends |
| | | | | | ||||||||||||||||||
Preferred stock dividend
requirements ratio
(above) times preferred
stock dividends |
$ | | $ | | $ | | $ | | $ | | $ | | ||||||||||||
Fixed Charges and Preferred
Stock Dividend Requirements: |
||||||||||||||||||||||||
Fixed charges |
$ | 192,394 | $ | 241,703 | $ | 235,429 | $ | 225,119 | $ | 214,430 | $ | 214,803 | ||||||||||||
Preferred stock dividend
requirements |
| | | | | | ||||||||||||||||||
Total |
$ | 192,394 | $ | 241,703 | $ | 235,429 | $ | 225,119 | $ | 214,430 | $ | 214,803 | ||||||||||||
Ratio of Earnings to
Combined Fixed Charges
and Preferred Stock
Dividend Requirements
(rounded down) |
1.79 | 2.23 | 2.91 | 3.09 | 2.66 | 2.75 | ||||||||||||||||||