EX-12 5 ex12cspco4q.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,
  
   
2004
  
2005
  
2006
  
2007
  
2008
  
EARNINGS
                           
Income Before Income Taxes
  
$
207,929
  
$
199,259
  
$
286,422
  
$
387,473
  
$
346,869
  
Fixed Charges (as below)
    
61,742
    
63,665
    
74,155
    
86,900
    
109,245
  
Total Earnings
  
$
269,671
  
$
262,924
  
$
360,577
  
$
474,373
  
$
456,114
  
                                 
FIXED CHARGES
                                
Interest Expense   $ 54,246   $ 59,539   $ 66,100   $ 69,625   $ 92,068  
Credit for Allowance for Borrowed Funds Used During
   Construction
     4,996     1,526     5,955     7,275     2,677  
Estimated Interest Element in Lease Rentals
  
 
2,500
  
 
2,600
  
 
2,100
  
 
10,000
  
 
14,500
  
Total Fixed Charges
  
$
61,742
  
$
63,665
  
$
74,155
  
$
86,900
  
$
109,245
  
                                 
Ratio of Earnings to Fixed Charges
    
4.36
    
4.12
    
4.86
    
5.45
    
4.17