EX-12 7 ex12csp3q.htm COMPUTATION OF RATIOS ex12csp3q.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
    
 
Nine 
Months Ended
  
 
 
2003
 
2004
  
2005
  
2006
  
2007
    
9/30/2008
    
9/30/2008 
  
EARNINGS
                                       
Income Before Income Taxes
  
$
246,809
  
$
207,929
  
$
199,259
  
$
286,422
  
$
 387,473   $
393,507
   $
328,147
  
Fixed Charges (as below)
    
58,771
    
61,742
    
63,665
    
74,155
     79,400    
82,898
    
61,432
  
Total Earnings
  
$
305,580
  
$
269,671
  
$
262,924
  
$
360,577
  
$
 466,873   $
476,405
   $
 389,579
  
                                             
FIXED CHARGES
                                            
Interest Expense   $ 50,948   $ 54,246   $ 59,539   $ 66,100   $ 69,625   $
76,044
   $ 57,612  
Credit for Allowance for Borrowed Funds
   Used During Construction
     5,123     4,996     1,526     5,955     7,275    
 
4,354
    
1,945
  
Estimated Interest Element in Lease Rentals
  
 
2,700
  
 
2,500
  
 
2,600
  
 
2,100
  
 
 2,500    
2,500
     1,875  
Total Fixed Charges
  
$
58,771
  
$
61,742
  
$
63,665
  
$
74,155
  
$
 79,400   $
82,898
   $  61,432  
                                             
Ratio of Earnings to Fixed Charges
    
5.19
    
4.36
    
4.12
    
4.86
     5.88    
5.74
     6.34