EX-12 5 ex12aep20171q.htm COMPUTATION OF RATIOS - AEP Exhibit


EXHIBIT 12
 
 
AMERICAN ELECTRIC POWER COMPANY, INC. AND SUBSIDIARIES
Computation of Consolidated Ratios of Earnings to Fixed Charges
(in millions except ratio data)
 
 
 
 
 
 
 
 
 
 
 
 
Twelve
 
Three
 
 
 
 
 
 
 
 
 
 
 
 
Months
 
Months
 
 
Years Ended December 31,
 
Ended 
 
Ended
 
 
2012
 
2013
 
2014
 
2015
 
2016
 
3/31/2017
 
3/31/2017
EARNINGS
 
 

 
 

 
 

 
 

 
 

 
 

 
 

Income From Continuing Operations Before Income Tax Expense and Equity Earnings
 
$
1,801.1

 
$
2,093.3

 
$
2,402.9

 
$
2,622.9

 
$
475.6

 
$
672.4

 
$
910.4

Income Distributed from Equity Method Investment
 
—

 
—

 
22.6

 
18.0

 
27.1

 
27.9

 
3.0

Fixed Charges (as below)
 
1,257.5

 
1,135.4

 
1,104.7

 
1,099.3

 
1,040.3

 
1,039.6

 
260.3

Total Earnings
 
$
3,058.6

 
$
3,228.7

 
$
3,530.2

 
$
3,740.2

 
$
1,543.0

 
$
1,739.9

 
$
1,173.7

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
FIXED CHARGES
 
 

 
 
 
 
 
 
 
 
 
 
 
 
Interest Expense
 
$
988.4

 
$
905.6

 
$
885.1

 
$
890.9

 
$
877.2

 
$
882.0

 
$
221.8

Credit for Allowance for Borrowed Funds Used During Construction
 
68.9

 
39.8

 
44.5

 
61.3

 
51.7

 
46.2

 
10.6

Estimated Interest Element in Lease Rentals
 
200.2

 
190.0

 
175.1

 
147.1

 
111.4

 
111.4

 
27.9

Total Fixed Charges
 
$
1,257.5

 
$
1,135.4

 
$
1,104.7

 
$
1,099.3

 
$
1,040.3

 
$
1,039.6

 
$
260.3

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Ratio of Earnings to Fixed Charges
 
2.43

 
2.84

 
3.19

 
3.40

 
1.48

 
1.67

 
4.50