EX-12 3 ex12cspco3q.htm COMPUTATION OF RATIOS Unassociated Document
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
    
Nine
Months Ended
  
 
 
2002
 
2003
  
2004
  
2005
  
2006
    
9/30/2007
    
9/30/2007 
  
EARNINGS
                                       
Income Before Income Taxes
  
$
292,176
  
$
246,809
  
$
207,929
  
$
199,259
  
$
286,422
   $
357,851
 $
322,113
  
Fixed Charges (as below)
    
59,847
    
58,771
    
61,742
    
63,665
    
74,155
    
76,197
    
57,634
  
Total Earnings
  
$
352,023
  
$
305,580
  
$
269,671
  
$
262,924
  
$
360,577
   $
434,048
   $
379,747
  
                                             
FIXED CHARGES
                                            
Interest Expense   $ 53,869   $ 50,948   $ 54,246   $ 59,539   $ 66,100   $
67,046
   $
51,193
  
Credit for Allowance for Borrowed Funds
   Used During Construction
     2,478     5,123     4,996     1,526     5,955  
 
7,051
4,866
  
Estimated Interest Element in Lease Rentals
  
 
3,500
  
 
2,700
  
 
2,500
  
 
2,600
  
 
2,100
    
 2,100
    
1,575
  
Total Fixed Charges
  
$
59,847
  
$
58,771
  
$
61,742
  
$
63,665
  
$
74,155
   $
76,197
   $
57,634
  
                                           
Ratio of Earnings to Fixed Charges
    
5.88
    
5.19
    
4.36
    
4.12
    
4.86
    
5.69
    
6.58