EX-12 16 ex12apco4q.htm COMPUTATION OF RATIOS - APCO Unassociated Document
EXHIBIT 12
 
 
APPALACHIAN POWER COMPANY AND SUBSIDIARIES
Computation of Consolidated Ratios of Earnings to Fixed Charges
(in thousands except ratio data)
 
   
Years Ended December 31,
  
   
2007
    
 2008
  
2009
   2010      2011  
EARNINGS
                               
Income Before Income Taxes
  
$
195,613
   $ 166,801   $ 201,263   $ 210,898    $  252,618  
Fixed Charges (as below)     178,067     225,573     215,640     217,500      217,280  
Total Earnings
  
$
373,680
   $ 392,374   $ 416,903   $ 428,398    $  469,898  
                                 
FIXED CHARGES
                                
Interest Expense
  
$
165,405
   $ 209,733   $ 202,426   $ 207,649    $  204,623  
Credit for Allowance for Borrowed Funds Used
   During Construction
     6,962     9,040     6,014     2,251      6,257  
Estimated Interest Element in Lease Rentals     5,700    
6,800
     7,200     7,600      6,400  
Total Fixed Charges
  
$
178,067
   $ 225,573   $ 215,640   $ 217,500    $  217,280  
                                 
Ratio of Earnings to Fixed Charges
    
2.09
     1.73     1.93     1.96     2.16