EX-12 6 ex12pso3q.htm COMPUTATION OF RATIOS - PSO ex12pso3q


EXHIBIT 12
 
 
PUBLIC SERVICE COMPANY OF OKLAHOMA
Computation of Ratios of Earnings to Fixed Charges
(in thousands except ratio data)
 
 
 
 
 
 
 
 
 
 
 
 
Twelve
 
Nine
 
 
 
 
 
 
 
 
 
 
 
 
Months
 
Months
 
 
Years Ended December 31,
 
Ended 
 
Ended
 
 
2009
 
2010
 
2011
 
2012
 
2013
 
9/30/2014
 
9/30/2014
EARNINGS
 
 

 
 

 
 

 
 

 
 

 
 

 
 

Income Before Income Taxes
 
$
119,523

 
$
122,887

 
$
192,257

 
$
180,835

 
$
163,681

 
$
134,644

 
$
122,962

Fixed Charges (as below)
 
62,235

 
65,834

 
58,822

 
58,984

 
57,647

 
58,490

 
43,983

Total Earnings
 
$
181,758

 
$
188,721

 
$
251,079

 
$
239,819

 
$
221,328

 
$
193,134

 
$
166,945

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
FIXED CHARGES
 
 

 
 
 
 
 
 
 
 
 
 
 
 
Interest Expense
 
$
59,093

 
$
63,362

 
$
54,700

 
$
55,286

 
$
53,175

 
$
54,168

 
$
41,009

Credit for Allowance for Borrowed Funds Used During Construction
 
1,142

 
572

 
822

 
1,098

 
2,272

 
2,122

 
1,324

Estimated Interest Element in Lease Rentals
 
2,000

 
1,900

 
3,300

 
2,600

 
2,200

 
2,200

 
1,650

Total Fixed Charges
 
$
62,235

 
$
65,834

 
$
58,822

 
$
58,984

 
$
57,647

 
$
58,490

 
$
43,983

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Ratio of Earnings to Fixed Charges
 
2.92

 
2.86

 
4.26

 
4.06

 
3.83

 
3.30

 
3.79