EX-12 8 x12aep.htm COMPUTATION OF RATIOS Computation of Ratios


EXHIBIT 12
 
 
AMERICAN ELECTRIC POWER COMPANY, INC. AND SUBSIDIAIRIES
Computation of Consolidated Ratios of Earnings to Fixed Charges
(in millions except ratio data) 
 
   
Year Ended December 31,
  
   
2000
  
2001
  
2002
  
2003
  
2004
  
FIXED CHARGES
                           
Interest on Long-term Debt
  
$
608
  
$
599
  
$
642
  
$
735
  
$
673
  
Interest on Short-term Debt
    
258
    
143
    
62
    
23
    
17
  
Miscellaneous Interest Charges
    
161
    
133
    
103
    
80
    
113
  
Estimated Interest Element in Lease Rentals
    
241
    
242
    
255
    
232
    
215
  
Preferred Stock Dividends
    
32
    
15
    
18
    
15
    
9
  
Total Fixed Charges
  
$
1,300
  
$
1,132
  
$
1,080
  
$
1,085
  
$
1,027
  
                                 
EARNINGS
                                
Income Before Income Taxes
  
$
779
  
$
1,513
  
$
800
  
$
880
  
$
1,699
  
Plus Fixed Charges (as above)
    
1,300
    
1,132
    
1,080
    
1,085
    
1,027
  
Less Undistributed Earnings in Equity Investments
    
46
    
28
    
12
    
10
    
18
  
Total Earnings
  
$$
2,033
  
$
2,617
  
$
1,868
  
$
1,955
  
$
2,708
  
                                 
Ratio of Earnings to Fixed Charges
    
1.56
    
2.31
    
1.72
    
1.80
    
2.63