Attached files
Exhibit 12.1
PINNACLE WEST CAPITAL CORPORATION
RATIO OF EARNINGS TO FIXED CHARGES
(dollars in thousands)
Six Months Ended June 30, | Twelve Months Ended December 31, | ||||||||||||||||||||||
2018 | 2017 | 2016 | 2015 | 2014 | 2013 | ||||||||||||||||||
Earnings: | |||||||||||||||||||||||
Net income attributable to common shareholders | $ | 169,959 | $ | 488,456 | $ | 442,034 | $ | 437,257 | $ | 397,595 | $ | 406,074 | |||||||||||
Income taxes | 42,774 | 258,272 | 236,411 | 237,720 | 220,705 | 230,591 | |||||||||||||||||
Fixed charges | 124,628 | 228,377 | 213,973 | 202,465 | 208,226 | 206,089 | |||||||||||||||||
Total earnings | $ | 337,361 | $ | 975,105 | $ | 892,418 | $ | 877,442 | $ | 826,526 | $ | 842,754 | |||||||||||
Fixed Charges: | |||||||||||||||||||||||
Interest expense | $ | 119,662 | $ | 219,796 | $ | 205,720 | $ | 194,964 | $ | 200,950 | $ | 201,888 | |||||||||||
Estimated interest portion of annual rents | 4,966 | 8,581 | 8,253 | 7,501 | 7,276 | 4,201 | |||||||||||||||||
Total fixed charges | $ | 124,628 | $ | 228,377 | $ | 213,973 | $ | 202,465 | $ | 208,226 | $ | 206,089 | |||||||||||
Ratio of Earnings to Fixed Charges (rounded down) | 2.70 | 4.26 | 4.17 | 4.33 | 3.96 | 4.08 |