EX-12 4 ex12csp4q.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)
 
   
Years Ended December 31,
  
 
 
2006
  
2007
  
2008
    
2009
    2010  
EARNINGS
                             
Income Before Income Taxes
  
$
286,422
  
$
387,473
  
$
 346,869   $
415,382
   $ 362,072  
Fixed Charges (as below)
    
74,155
    
86,900
     109,245    
109,152
     102,104  
Total Earnings
  
$
360,577
  
$
474,373
  
$
 456,114   $
524,534
   $ 464,176  
                                 
FIXED CHARGES
                                
Interest Expense   $ 66,100   $ 69,625   $ 92,068   $
88,184
   $
85,893
  
Credit for Allowance for Borrowed Funds
   Used During Construction
     5,955     7,275     2,677    
5,968
    
2,311
  
Estimated Interest Element in Lease Rentals
  
 
2,100
  
 
10,000
  
 
  14,500    
15,000
    
13,900
  
Total Fixed Charges
  
$
74,155
  
$
86,900
  
$
 109,245   $
109,152
   $ 102,104  
                                 
Ratio of Earnings to Fixed Charges
    
4.86
    
5.45
     4.17    
4.80
    
4.54