EX-12 3 ex12csp2q.htm COMPUTATION OF RATIOS Computation of Ratios
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 
    
Six
Months Ended 
  
   
2001 
  
2002 
  
2003 
  
2004 
  
2005 
  
6/30/2006 
    
6/30/2006
  
EARNINGS
                                            
Income Before Income Taxes
  
$
294,860
  
$
292,176
  
$
246,809
  
$
207,929
  
$
199,259
  
$
199,431
   $
123,167
  
Fixed Charges (as below)
    
75,410
    
59,847
    
58,771
    
61,742
    
63,665
    
71,454
    
37,776
  
Total Earnings
  
$
370,270
  
$
352,023
  
$
305,580
  
$
269,671
  
$
262,924
  
$
270,885
   $
160,943
  
                                             
FIXED CHARGES
                                            
Interest Expense
  
$
68,015
  
$
53,869
  
$
50,948
  
$
54,246
  
$
59,539
 
$
65,392
   $
34,434
  
Credit for Allowance for Borrowed Funds
   Used During Construction
    
2,595
    
2,478
    
5,123
    
4,996
    
1,526
   
3,462
    
2,042
  
Estimated Interest Element in Lease
   Rentals
    
4,800
    
3,500
    
2,700
    
2,500
    
2,600
     2,600    
1,300
  
Total Fixed Charges
  
$
75,410
  
$
59,847
  
$
58,771
  
$
61,742
  
$
63,665
  
$
71,454
   $
37,776
  
                                             
Ratio of Earnings to Fixed Charges
    
4.91
    
5.88
    
5.19
    
4.36
    
4.12
    
3.79
    
4.26