EX-12 17 ex12opco4q.htm COMPUTATION OF RATIOS - OPCO Unassociated Document
 
EXHIBIT 12
 
 
OHIO POWER COMPANY AND SUBSIDIARY
Computation of Consolidated Ratios of Earnings to Fixed Charges
(in thousands except ratio data)
 
     Years Ended December 31,  
   
2009
   2010     2011    2012      2013  
EARNINGS
                               
Income Before Income Taxes
  
$
 890,471   $ 842,922   $ 678,690   $ 487,817   $ 635,650  
Fixed Charges (as below)
     283,540     269,886     248,026      245,446     215,548  
Total Earnings
  
$
 1,174,011   $ 1,112,808   $  926,716   $ 733,263   $ 851,198  
                                 
FIXED CHARGES
                                
Interest Expense
  
$
 241,134   $ 242,000   $  221,976   $ 213,100   $ 182,046  
Credit for Allowance for Borrowed Funds
   Used During Construction
     16,506     3,786      2,350     9,046     10,102  
Estimated Interest Element in Lease Rentals     25,900     24,100      23,700      23,300     23,400  
Total Fixed Charges
  
$
 283,540   $ 269,886   $  248,026   $  245,446   $ 215,548  
                                 
Ratio of Earnings to Fixed Charges
     4.14     4.12     3.73      2.98     3.94