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,
  
 
 
2005
  
2006
  
2007
  
2008
    
2009
  
EARNINGS
                            
Income Before Income Taxes
  
$
199,259
  
$
286,422
  
$
387,473
  
$
 346,869   $
415,382
  
Fixed Charges (as below)
    
63,665
    
74,155
    
86,900
     109,245    
109,152
  
Total Earnings
  
$
262,924
  
$
360,577
  
$
474,373
  
$
 456,114   $
524,534
  
                                 
FIXED CHARGES
                                
Interest Expense   $ 59,539   $ 66,100   $ 69,625   $ 92,068   $
88,184
  
Credit for Allowance for Borrowed Funds
   Used During Construction
     1,526     5,955     7,275     2,677    
5,968
  
Estimated Interest Element in Lease Rentals
  
 
2,600
  
 
2,100
  
 
10,000
  
 
  14,500    
15,000
  
Total Fixed Charges
  
$
63,665
  
$
74,155
  
$
86,900
  
$
 109,245   $
109,152
  
                                 
Ratio of Earnings to Fixed Charges
    
4.12
    
4.86
    
5.45
     4.17    
4.80