EX-12 2 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  
   
Years Ended December 31,
    Ended    Ended  
 
 
2006
  
2007
  
2008
    
2009
  
2010
    6/30/2011    6/30/2011  
EARNINGS
                                         
Income Before Income Taxes
  
$
286,422
  
$
387,473
  
$
 346,869   $
415,382
   $  362,072   $ 404,378   $ 200,710  
Fixed Charges (as below)
    
74,155
    
86,900
     109,245    
109,152
      102,104     98,522     47,845  
Total Earnings
  
$
360,577
  
$
474,373
  
$
 456,114   $
524,534
   $  464,176   $ 502,900   $ 248,555  
                                             
FIXED CHARGES
                                            
Interest Expense   $ 66,100   $ 69,625   $ 92,068   $
88,184
   $  85,893   $ 82,967   $ 39,949  
Credit for Allowance for Borrowed Funds
   Used During Construction
     5,955     7,275     2,677    
5,968
      2,311     1,655     946  
Estimated Interest Element in Lease Rentals
  
 
2,100
  
 
10,000
  
 
  14,500    
15,000
     13,900     13,900     6,950  
Total Fixed Charges
  
$
74,155
  
$
86,900
  
$
 109,245   $
109,152
   $  102,104   $ 98,522   $  47,845  
                                             
Ratio of Earnings to Fixed Charges
    
4.86
    
5.45
     4.17    
4.80
     4.54     5.10     5.19