EX-12 3 ex12cspco2q.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
    
 
Six 
Months Ended
  
 
 
2004
 
2005
  
2006
  
2007
  
2008
    
6/30/2009
    
6/30/2009 
  
EARNINGS
                                       
Income Before Income Taxes
  
$
207,929
  
$
199,259
  
$
286,422
  
$
387,473
  
$
 346,869   $
350,276
   $
205,399
  
Fixed Charges (as below)
    
61,742
    
63,665
    
74,155
    
86,900
     109,245    
116,966
    
52,842
  
Total Earnings
  
$
269,671
  
$
262,924
  
$
360,577
  
$
474,373
  
$
 456,114   $
 467,242
   $ 258,241  
                                             
FIXED CHARGES
                                            
Interest Expense   $ 54,246   $ 59,539   $ 66,100   $ 69,625   $ 92,068   $
97,452
   $ 41,869  
Credit for Allowance for Borrowed Funds
   Used During Construction
     4,996     1,526     5,955     7,275     2,677    
5,014
    
3,723
  
Estimated Interest Element in Lease Rentals
  
 
2,500
  
 
2,600
  
 
2,100
  
 
10,000
  
 
  14,500    
14,500
      7,250  
Total Fixed Charges
  
$
61,742
  
$
63,665
  
$
74,155
  
$
86,900
  
$
 109,245   $
116,966
   $  52,842  
                                             
Ratio of Earnings to Fixed Charges
    
4.36
    
4.12
    
4.86
    
5.45
     4.17    
 3.99
      4.88