EXHIBIT 12

INDIANA MICHIGAN POWER COMPANY AND SUBSIDIARIES

Computation of Consolidated Ratios of Earnings to Fixed Charges

(in thousands except ratio data)

											Twelve		Three
											Months		Months
	Years Ended December 31,										Ended		Ended
		2008		2009	2010		2011		2012		3/31/2013		3/31/2013
EARNINGS
Income Before Income Taxes	$	190,133	$	297,347	$	189,517	$	201,434	$	157,801	$	166,987	$	64,720
Fixed Charges (as below)		164,660		173,293		174,965		168,003		168,656		168,958		42,145
Total Earnings	$	354,793	$	470,640	$	364,482	$	369,437	$	326,457	$	335,945		106,865
FIXED CHARGES
Interest Expense	$	89,851	$	101,145	$	104,465	$	97,665	$	102,739		101,897		24,211
Credit for Allowance for Borrowed Funds Used    During Construction		4,609		8,348		8,500		7,838		4,717		5,861		2,634
Estimated Interest Element in Lease Rentals		70,200		63,800		62,000		62,500		61,200		61,200		15,300
Total Fixed Charges	$	164,660	$	173,293	$	174,965	$	168,003	$	168,656		168,958		42,145
Ratio of Earnings to Fixed Charges		2.15		2.71		2.08		2.19		1.93		1.98		2.53