EX-12 4 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
  
 
 
2003
 
2004
  
2005
  
2006
  
2007
    
6/30/2008
    
6/30/2008 
  
EARNINGS
                                       
Income Before Income Taxes
  
$
246,809
  
$
207,929
  
$
199,259
  
$
286,422
  
$
 387,473   $
399,717
   $
201,992
  
Fixed Charges (as below)
    
58,771
    
61,742
    
63,665
    
74,155
     79,400    
81,855
    
39,121
  
Total Earnings
  
$
305,580
  
$
269,671
  
$
262,924
  
$
360,577
  
$
 466,873   $
481,572
   $
 241,113
  
                                             
FIXED CHARGES
                                            
Interest Expense   $ 50,948   $ 54,246   $ 59,539   $ 66,100   $ 69,625   $
74,447
   $ 36,485  
Credit for Allowance for Borrowed Funds
   Used During Construction
     5,123     4,996     1,526     5,955     7,275    
 
4,908
    
1,386
  
Estimated Interest Element in Lease Rentals
  
 
2,700
  
 
2,500
  
 
2,600
  
 
2,100
  
 
 2,500    
2,500
     1,250  
Total Fixed Charges
  
$
58,771
  
$
61,742
  
$
63,665
  
$
74,155
  
$
 79,400   $
81,855
   $  39,121  
                                             
Ratio of Earnings to Fixed Charges
    
5.19
    
4.36
    
4.12
    
4.86
     5.88    
5.88
     6.16