EX-12 3 ex12tcc1q.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) 
 
                         
Twelve
    
Three
  
                         
Months
    
Months
 
   
Year Ended December 31,
    
Ended
    
Ended
  
   
2002
  
2003
  
2004
  
2005
  
2006
    
3/31/2007
    
3/31/2007
  
EARNINGS
                                       
Income Before Income Taxes
  
$
418,107
  
$
322,719
  
$
429,714
  
$
63,213
  
$
64,219
   $
 64,192
   $
4,969
  
Fixed Charges (as below)
    
132,237
    
136,143
    
125,701
    
115,439
    
148,996
    
168,546
    
47,572
  
Total Earnings
  
$
550,344
  
$
458,862
  
$
555,415
  
$
178,652
  
$
213,215
   $
 232,738
   $
52,541
  
                                             
FIXED CHARGES
                                            
Interest Expense   $ 125,871   $ 133,812   $ 123,785   $ 112,006   $ 144,134   $
 163,382
   $
46,021
  
Credit for Allowance for Borrowed Funds
   Used During Construction
     4,620     567     750     1,508     2,609    
 2,911
    
988
  
Trust Dividends     (649 )    (372 )   (216 )   -     -     
-
    
-
  
Estimated Interest Element in Lease Rentals
    
2,395
 
  
2,136
 
  
1,382
 
  
1,925
    
2,253
    
2,253
    
563
  
Total Fixed Charges
  
$
132,237
  
$
136,143
  
$
125,701
  
$
115,439
  
$
148,996
   $
168,546
   $
47,572
  
                                             
Ratio of Earnings to Fixed Charges
    
4.16
    
3.37
    
4.41
    
1.54
    
1.43
    
 1.38
    
1.10