EX-12 3 apc12.txt EX 12 APC 09/30/01 EXHIBIT 12 APPALACHIAN POWER COMPANY Computation of Consolidated Ratio of Earnings to Fixed Charges (in thousands except ratio data)
Twelve Months Year Ended December 31, Ended 1996 1997 1998 1999 2000 9/30/01 Fixed Charges: Interest on First Mortgage Bonds. . . . . . . . $ 82,082 $ 81,009 $ 72,057 $ 65,697 $ 56,003 $ 50,114 Interest on Other Long-term Debt. . . . . . . . 18,025 28,163 40,642 50,712 59,559 60,984 Interest on Short-term Debt . . . . . . . . . . 3,639 4,569 4,245 5,959 8,847 10,349 Miscellaneous Interest Charges. . . . . . . . . 7,327 6,857 11,470 8,212 26,284 26,530 Estimated Interest Element in Lease Rentals . . 6,600 6,000 5,900 6,100 6,300 6,300 Total Fixed Charges. . . . . . . . . . . . $117,673 $126,598 $134,314 $136,680 $156,993 $154,277 Earnings: Income Before Extraordinary Item. . . . . . . . $133,689 $120,514 $ 93,330 $120,492 $ 64,906 $ 79,413 Plus Federal Income Taxes . . . . . . . . . . . 65,801 54,835 43,941 70,950 117,872 122,980 Plus State Income Taxes . . . . . . . . . . . . 10,180 8,109 6,845 5,085 15,307 25,204 Plus Fixed Charges (as above) . . . . . . . . . 117,673 126,598 134,314 136,680 156,993 154,277 Total Earnings . . . . . . . . . . . . . . $327,343 $310,056 $278,430 $333,207 $355,078 $381,874 Ratio of Earnings to Fixed Charges. . . . . . . . 2.78 2.44 2.07 2.43 2.26 2.47