EX-12 10 x12.txt EXHIBIT 12 AMERICAN ELECTRIC POWER COMPANY, INC. Ratio of Earnings to Fixed Charges (in millions except ratio data)
Year Ended December 31, 1997 1998 1999 2000 2001 Fixed Charges: Interest on Long-term Debt . . . . . . . . . . . . $ 698 $ 682 $ 773 $ 768 $ 733 Interest on Short-term Debt. . . . . . . . . . . . 107 134 149 259 148 Miscellaneous Interest Charges . . . . . . . . . . 50 77 77 161 132 Estimated Interest Element in Lease Rentals. . . . 221 222 212 223 223 Preferred Stock Dividends. . . . . . . . . . . . . 45 29 28 32 15 Total Fixed Charges. . . . . . . . . . . . . $1,121 $1,144 $1,239 $1,443 $1,251 Earnings: Income Before Income Taxes . . . . . . . . . . . . $1,414 $1,477 $1,468 $ 899 $1,572 Plus Fixed Charges (as above). . . . . . . . . . . 1,121 1,144 1,239 1,443 1,251 Less Undistributed Earnings in Equity Investments. 36 42 46 46 28 Total Earnings. . . . . . . . . . . . . . . . $2,499 $2,579 $2,661 $2,296 $2,795 Ratio of Earnings to Fixed Charges . . . . . . . . . 2.22 2.25 2.14 1.59 2.23