EX-12 3 ex12kpco.htm EXHIBIT 12 KENTUCKY POWER COMPANY 3Q05 Unassociated Document

 
EXHIBIT 12
 
 
KENTUCKY POWER COMPANY
Computation of Ratios of Earnings to Fixed Charges
(in thousands except ratio data)
 
   
Year Ended December 31,
  
Twelve
Months
Ended
  
   
2000
  
2001
  
2002
  
2003
  
2004
  
9/30/05
  
FIXED CHARGES
                                      
  Interest on First Mortgage Bonds
  
$
9,503
  
$
6,178
  
$
2,206
  
$
-
  
$
-
  
$
-
  
  Interest on Other Long-term Debt
    
16,367
    
18,300
    
23,429
    
26,467
    
27,051
    
26,640
  
  Interest on Short-term Debt
    
3,295
    
2,329
    
1,751
    
1,104
    
697
    
410
  
  Miscellaneous Interest Charges
    
2,523
    
1,059
    
1,084
    
1,772
    
1,956
    
2,085
  
  Estimated Interest Element in Lease Rentals
    
1,700
    
1,200
    
1,000
    
600
    
700
    
700
  
                                       
     Total Fixed Charges
  
$
33,388
  
$
29,066
  
$
29,470
  
$
29,943
  
$
30,404
  
$
29,835
  
                                       
EARNINGS
                                      
  Net Income Before Cumulative Effect of
    Accounting Change
  
$
20,763
  
$
21,565
  
$
20,567
  
$
33,464
  
$
25,905
  
$
24,123
  
  Plus Federal Income Taxes
    
17,884
    
9,553
    
9,235
    
9,764
    
8,974
    
8,909
  
  Plus State Income Taxes (Credits)
    
2,457
    
489
    
1,627
    
(89
 )   
(303
)
  
(498
 ) 
  Plus Fixed Charges (as above)
    
33,388
    
29,066
    
29,470
    
29,943
    
30,404
    
29,835
  
                                       
     Total Earnings
  
$
74,492
  
$
60,673
  
$
60,899
  
$
73,082
  
$
64,980
  
$
62,369
  
                                       
Ratio of Earnings to Fixed Charges
    
2.23
    
2.08
    
2.06
    
2.44
    
2.13
    
2.09