EX-12 10 ex12aep4q.htm COMPUTATION OF RATIOS Unassociated Document
EXHIBIT 12
 
 
AMERICAN ELECTRIC POWER COMPANY, INC. AND SUBSIDIAIRIES
Computation of Consolidated Ratios of Earnings to Fixed Charges
(in millions except ratio data)
 
   
Year Ended December 31,
  
   
2005
  
2006
  
2007
  
2008
  
2009
  
EARNINGS
                            
Income Before Income Tax Expense and Equity Earnings
  
$
 1,463  
$
1,483
  
$
1,663
  
$
2,015
  
$
1,938
  
Fixed Charges (as below)
    
913
    
999
    
1,146
    
1,240
    
1,237
  
Preferred Security Dividend Requirements of
   Consolidated Subsidiaries
      (10 )     (4 )     (4 )     (4 )     (4 ) 
Total Earnings
  
$
2,366
  
$
2,478
  
$
2,805
  
$
3,251
   $
3,171
  
                                 
FIXED CHARGES
                                
Interest Expense
  
$
694
  
$
729
  
$
838
  
$
957
   $ 973  
Credit for Allowance for Borrowed Funds Used
   During Construction
    
36
    
82
    
79
    
75
     67  
Estimated Interest Element in Lease Rentals     173     184     225     204     193  
Preferred Security Dividend Requirements of
   Consolidated Subsidiaries
      10      4      4      4      4  
Total Fixed Charges
  
$
913
  
$
999
  
$
1,146
  
$
1,240
   $
1,237
  
                                 
Ratio of Earnings to Fixed Charges
    
2.59
    
2.48
    
2.44
    
2.62
    
2.56