EX-12 3 ex12csp.htm EXHIBIT 12 COLUMBUS SOUTHERN POWER 3Q05 Exhibit 12 Columbus Southern Power 3Q05

 
EXHIBIT 12
 
 
COLUMBUS SOUTHERN POWER COMPANY AND SUBSIDIARIES
Computation of Consolidated Ratios of Earnings to Fixed Charges
(in thousands except ratio data) 
 
   
Year Ended December 31,
  
Twelve
Months
Ended
  
   
2000
  
2001
  
2002
  
2003
  
2004
  
9/30/05
  
FIXED CHARGES
                          
  Interest on First Mortgage Bonds
  
$
40,602
  
$
34,575
  
$
17,756
  
$
7,079
  
$
279
  
$
-
  
  Interest on Other Long-term Debt
    
25,878
    
27,365
    
32,762
    
45,658
    
52,301
    
53,378
  
  Interest on Short-term Debt
    
2,412
    
4,914
    
3,244
    
660
    
799
    
679
  
  Miscellaneous Interest Charges
    
14,205
    
3,755
    
2,585
    
2,673
    
5,864
    
2,971
  
  Estimated Interest Element in Lease Rentals
    
5,300
    
4,800
    
3,500
    
2,700
    
2,500
    
2,500
  
                                       
     Total Fixed Charges
  
$
88,397
  
$
75,409
  
$
59,847
  
$
58,770
  
$
61,743
  
$
59,528
  
                                       
EARNINGS
                                      
  Income Before Extraordinary Item and
    Cumulative Effect of Accounting Changes
  
$
120,202
  
$
191,900
  
$
181,173
  
$
173,147
  
$
140,258
  
$
128,158
  
  Plus Federal Income Taxes
    
116,590
    
94,148
    
93,484
    
78,391
    
67,426
    
60,279
  
  Plus State and Local Income Taxes (Credits)
    
136
    
8,811
    
17,519
    
(4,729
 )   
245
 
  
4,110
 
  Plus Fixed Charges (as above)
    
88,397
    
75,409
    
59,847
    
58,770
    
61,743
    
59,528
  
                                       
     Total Earnings
  
$
325,325
  
$
370,268
  
$
352,023
  
$
305,579
  
$
269,672
  
$
252,075
  
                                       
Ratio of Earnings to Fixed Charges
    
3.68
    
4.91
    
5.88
    
5.19
    
4.36
    
4.23