EX-12 3 ex12cspco2q.htm COMPUTATION OF RATIOS ex12cspco2q.htm
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
  
 
 
2002
 
2003
  
2004
  
2005
  
2006
    
6/30/2007
    
6/30/2007 
  
EARNINGS
                                       
Income Before Income Taxes
  
$
292,176
  
$
246,809
  
$
207,929
  
$
199,259
  
$
286,422
   $
353,003
 $
189,748
  
Fixed Charges (as below)
    
59,847
    
58,771
    
61,742
    
63,665
    
74,155
    
73,095
    
36,466
  
Total Earnings
  
$
352,023
  
$
305,580
  
$
269,671
  
$
262,924
  
$
360,577
   $
426,098
   $
226,214
  
                                             
FIXED CHARGES
                                            
Interest Expense   $ 53,869   $ 50,948   $ 54,246   $ 59,539   $ 66,100   $
63,329
   $
31,663
  
Credit for Allowance for Borrowed Funds
   Used During Construction
     2,478     5,123     4,996     1,526     5,955  
 
7,666
3,753
  
Estimated Interest Element in Lease Rentals
  
 
3,500
  
 
2,700
  
 
2,500
  
 
2,600
  
 
2,100
    
 2,100
    
1,050
  
Total Fixed Charges
  
$
59,847
  
$
58,771
  
$
61,742
  
$
63,665
  
$
74,155
   $
73,095
   $
36,466
  
                                           
Ratio of Earnings to Fixed Charges
    
5.88
    
5.19
    
4.36
    
4.12
    
4.86
    
 5.82
    
6.20