Pinnacle West Capital Corp – ‘10-K’ for 12/31/03 – EX-12.1

On:  Monday, 3/15/04, at 4:11pm ET   ·   For:  12/31/03   ·   Accession #:  950153-4-639   ·   File #:  1-08962

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Annual Report   —   Form 10-K
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 10-K        Annual Report                                       HTML   1.49M 
 2: EX-3.1      Articles of Incorporation/Organization or By-Laws     26    123K 
 3: EX-10.1A    Material Contract                                      1      6K 
 4: EX-10.2A    Material Contract                                      1      6K 
 5: EX-10.3     Material Contract                                      3     15K 
 6: EX-10.4     Material Contract                                      6     24K 
 7: EX-10.5     Material Contract                                      3     15K 
 8: EX-10.6A    Material Contract                                      5     21K 
 9: EX-10.7A    Material Contract                                     18     53K 
10: EX-12.1     Statement re: Computation of Ratios                    1      8K 
11: EX-21.1     Subsidiaries of the Registrant                         2      9K 
12: EX-23.1     Consent of Experts or Counsel                       HTML      9K 
13: EX-31.1     Certification per Sarbanes-Oxley Act (Section 302)  HTML     15K 
14: EX-31.2     Certification per Sarbanes-Oxley Act (Section 302)  HTML     15K 
15: EX-32.1     Certification per Sarbanes-Oxley Act (Section 906)  HTML     13K 
16: EX-99.1     Miscellaneous Exhibit                               HTML     42K 

EX-12.1   —   Statement re: Computation of Ratios

EX-12.1
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Exhibit 12.1

 PINNACLE WEST CAPITAL CORPORATION
COMPUTATION OF EARNINGS TO FIXED CHARGES
(THOUSANDS OF DOLLARS)

                                                        [Enlarge/Download Table]

                                                      Twelve Months Ended                
                                                         December 31,                    
                                     ----------------------------------------------------
                                       2003       2002       2001       2000       1999  
                                     --------   --------   --------   --------   --------
                                                                                         
Earnings:                                                                                
     Income from Continuing                                                              
       Operations................... $230,576   $206,198   $327,367   $302,332   $269,772
     Income Taxes...................  105,560    132,228    213,535    194,200    141,592
     Fixed Charges..................  235,658    219,651    211,958    202,804    194,070
                                     --------   --------   --------   --------   --------
       Total........................  571,794    558,077    752,860    699,336    605,434
                                     ========   ========   ========   ========   ========

Fixed Charges:                                                                           
     Interest Expense...............  204,590    187,512    175,822    166,447    157,142
     Estimated Interest Portion of                                                       
       Annual Rents.................   31,068     32,139     36,136     36,357     36,928
                                     --------   --------   --------   --------   --------
       Total Fixed Charges..........  235,658    219,651    211,958    202,804    194,070
                                     ========   ========   ========   ========   ========

Ratio of Earnings to Fixed Charges                                                       
     (rounded down).................     2.42       2.54       3.55       3.44       3.11
                                     ========   ========   ========   ========   ========

 6

4 Subsequent Filings that Reference this Filing

  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

 2/27/24  Pinnacle West Capital Corp.       10-K       12/31/23  147:25M
 2/27/23  Pinnacle West Capital Corp.       10-K       12/31/22  146:28M
 2/25/22  Pinnacle West Capital Corp.       10-K       12/31/21  150:28M
 2/24/21  Pinnacle West Capital Corp.       10-K       12/31/20  144:26M