EX-12 4 ex12tcc4q.htm COMPUTATION OF RATIOS Unassociated Document

EXHIBIT 12
 
 
AEP TEXAS CENTRAL COMPANY AND SUBSIDIARIES
Computation of Consolidated Ratios of Earnings to Fixed Charges
(in thousands except ratio data) 
 
   
Year Ended December 31,
  
   
2002
  
2003
  
2004
  
2005
    
2006
  
EARNINGS
                             
Income Before Income Taxes
  
$
418,107
  
$
322,719
  
$
429,714
  
$
63,213
    
$
64,219
  
Fixed Charges (as below)
    
132,237
    
136,143
    
125,701
    
115,439
      
148,996
  
Total Earnings
  
$
550,344
  
$
458,862
  
$
555,415
  
$
178,652
    
$
213,215
  
                                   
FIXED CHARGES
                                  
Interest Expense   $ 125,871   $ 133,812   $ 123,785   $ 112,006     $ 144,134  
Credit for Allowance for Borrowed Funds Used
   During Construction
     4,620     567     750     1,508       2,609  
Trust Dividends     (649 )    (372 )   (216 )   -       -   
Estimated Interest Element in Lease Rentals
    
2,395
 
  
2,136
 
  
1,382
 
  
1,925
 
    
2,253
 
Total Fixed Charges
  
$
132,237
  
$
136,143
  
$
125,701
  
$
115,439
    
$
148,996
  
                                   
Ratio of Earnings to Fixed Charges
    
4.16
    
3.37
    
4.41
    
1.54
      
1.43