EX-12 10 ex12pso20181q.htm COMPUTATION OF RATIOS - PSO Exhibit


EXHIBIT 12
 
 
PUBLIC SERVICE COMPANY OF OKLAHOMA
Computation of Ratios of Earnings to Fixed Charges
(in millions except ratio data)
 
 
 
 
 
 
 
 
 
 
 
 
Twelve
 
Three
 
 
 
 
 
 
 
 
 
 
 
 
Months
 
Months
 
 
Years Ended December 31,
 
Ended 
 
Ended
 
 
2013
 
2014
 
2015
 
2016
 
2017
 
3/31/2018
 
3/31/2018
EARNINGS
 
 

 
 

 
 

 
 

 
 

 
 

 
 

Income (Loss) Before Income Taxes
 
$
163.7

 
$
137.5

 
$
143.8

 
$
154.4

 
$
122.1

 
$
105.8

 
$
(8.6
)
Fixed Charges (as below)
 
57.6

 
58.2

 
66.1

 
56.9

 
56.5

 
57.6

 
15.5

Total Earnings
 
$
221.3

 
$
195.7

 
$
209.9

 
$
211.3

 
$
178.6

 
$
163.4

 
$
6.9

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
FIXED CHARGES
 
 

 
 
 
 
 
 
 
 
 
 
 
 
Interest Expense
 
$
53.2

 
$
54.6

 
$
58.6

 
$
51.2

 
$
53.4

 
$
54.5

 
$
14.7

Credit for Allowance for Borrowed Funds Used During Construction
 
2.2

 
1.8

 
5.0

 
3.4

 
1.1

 
1.1

 
0.3

Estimated Interest Element in Lease Rentals
 
2.2

 
1.8

 
2.5

 
2.3

 
2.0

 
2.0

 
0.5

Total Fixed Charges
 
$
57.6

 
$
58.2

 
$
66.1

 
$
56.9

 
$
56.5

 
$
57.6

 
$
15.5

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Ratio of Earnings to Fixed Charges
 
3.83

 
3.36

 
3.17

 
3.71

 
3.16

 
2.83

 
0.44