EX-12.01 8 a2108372zex-12_01.txt EXHIBIT 12.01 EXHIBIT 12.01 OGE Energy Corp. S E C Method of Ratio of Earnings to Fixed Charges
Year Ended Year Ended Year Ended Year Ended Year Ended Dec 31, 1998 Dec 31, 1999 Dec 31, 2000 Dec 31, 2001 Dec 31, 2002 ------------------------------------------------------------------------ Earnings: Income from continuing operations $161,332,537 $139,962,231 $133,854,031 $ 93,879,245 $ 80,920,627 Add Income Taxes 109,196,753 86,203,529 72,047,027 52,885,079 44,578,932 Add Fixed Charges 77,179,846 105,347,270 139,931,555 132,199,580 115,552,863 Subtotal 347,709,136 331,513,030 345,832,613 278,963,904 241,052,422 Subtract: Allowance for funds used during construction 1,070,524 719,576 2,229,277 707,822 905,189 Minority interest - NOARK 3,097,220 1,640,086 1,243,067 953,181 134,579 Preferred dividend requirements 1,196,042 - - - - Total Earnings 342,345,350 329,153,368 342,360,269 277,302,901 240,012,654 Fixed Charges: Long-term debt interest expense 60,856,017 64,084,862 118,720,004 115,481,869 103,492,446 Other interest expense 10,862,044 36,891,106 16,173,031 12,462,336 8,250,174 Preferred dividend requirements 1,196,042 - - - - Calculated interest on leased property 4,265,743 4,371,302 5,038,520 4,255,375 3,810,243 Total Fixed Charges $ 77,179,846 $105,347,270 $139,931,555 $132,199,580 $115,552,863 ---------------------------------------------------------------------------------------------------------------------------- Ratio of Earnings to Fixed Charges 4.44 3.12 2.45 2.10 2.08 ----------------------------------------------------------------------------------------------------------------------------