EX-12 4 x12kpco.htm COMPUTATION OF RATIOS Computation of Ratios

EXHIBIT 12
 
 
KENTUCKY POWER COMPANY
Computation of Ratios of Earnings to Fixed Charges
(in thousands except ratio data) 
 
   
Year Ended December 31,
  
   
2001
  
2002
  
2003
  
2004
  
2005
  
EARNINGS
                           
Income Before Income Taxes
  
$
31,607
  
$
31,429
  
$
43,139
  
$
34,576
  
$
32,945
  
Fixed Charges (as below)     29,066     29,470     29,943     30,404     29,928  
Total Earnings
  
$
60,673
  
$
60,899
  
$
73,082
  
$
64,980
  
$
62,873
  
                                 
FIXED CHARGES
                                
Interest Expense
  
$
27,361
  
$
26,836
  
$
28,620
  
$
29,470
  
$
29,071
  
Credit for Allowance for Borrowed Funds Used
   During Construction
    
505
     1,634     723     234     257   
Estimated Interest Element in Lease Rentals     1,200     1,000     600     700     600   
Total Fixed Charges
  
$
29,066
  
$
29,470
  
$
29,943
  
$
30,404
  
$
29,928
  
                                 
Ratio of Earnings to Fixed Charges
    
2.08
    
2.06
    
2.44
    
2.13
    
2.10