EX-12 3 x12tcc.htm COMPUTATION OF RATIOS Unassociated Document
EXHIBIT 12
 
 
AEP TEXAS CENTRAL COMPANY AND SUBSIDIARY
Computation of Consolidated Ratios of Earnings to Fixed Charges
(in thousands except ratio data)
 
   
Year Ended December 31,
  
Twelve
Months
Ended
  
   
2001
  
2002
  
2003
  
2004
  
2005
  
3/31/06
  
EARNINGS
                                      
Income Before Income Taxes
  
$
293,425
  
$
418,107
  
$
322,719
  
$
429,714
  
$
63,213
  
$
68,096
  
Fixed Charges (as below)
    
125,194
    
132,237
    
136,143
    
125,701
    
115,439
    
115,579
  
Total Earnings
  
$
418,619
  
$
550,344
  
$
458,862
  
$
555,415
  
$
178,652
  
$
183,675
  
                                       
FIXED CHARGES
                                      
Interest Expense
  
$
116,268
  
$
125,871
  
$
133,812
  
$
123,785
  
$
112,006
  
$
111,700
  
Credit for Allowance for Borrowed Funds
   Used During Construction
    
6,943
    
4,620
    
567
    
750
    
1,508
    
1,954
  
Trust Dividends     -     (649 )   (372 )   (216 )   -     -  
Estimated Interest Element in Lease Rentals 
    
1,983
    
2,395
    
2,136
    
1,382
    
1,925
    
1,925
  
Total Fixed Charges
  
$
125,194
  
$
132,237
  
$
136,143
  
$
125,701
  
$
115,439
  
$
115,579
  
                                       
Ratio of Earnings to Fixed Charges
    
3.34
    
4.16
    
3.37
    
4.41
    
1.54
    
1.58