EX-12 3 ex12csp2q.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)
 
        Twelve    Six  
         Months    Months  
   
Year Ended December 31,
    Ended    Ended  
 
 
2005
  
2006
  
2007
  
2008
    
2009
    6/30/2010    6/30/2010  
EARNINGS
                                        
Income Before Income Taxes
  
$
199,259
  
$
286,422
  
$
387,473
  
$
 346,869   $
415,382
   $  368,387   $  158,404  
Fixed Charges (as below)
    
63,665
    
74,155
    
86,900
     109,245    
109,152
      108,037      51,977  
Total Earnings
  
$
262,924
  
$
360,577
  
$
474,373
  
$
 456,114   $
524,534
   $
476,424
   $  210,381  
                                             
FIXED CHARGES
                                            
Interest Expense   $ 59,539   $ 66,100   $ 69,625   $ 92,068   $
88,184
   $  89,190   $  42,875  
Credit for Allowance for Borrowed Funds
   Used During Construction
     1,526     5,955     7,275     2,677    
5,968
      3,847      1,602  
Estimated Interest Element in Lease Rentals
  
 
2,600
  
 
2,100
  
 
10,000
  
 
  14,500    
15,000
      15,000      7,500  
Total Fixed Charges
  
$
63,665
  
$
74,155
  
$
86,900
  
$
 109,245   $
109,152
   $  108,037   $  51,977  
                                             
Ratio of Earnings to Fixed Charges
    
4.12
    
4.86
    
5.45
     4.17    
4.80
      4.40      4.04