EX-12 8 ex12apco4q.htm COMPUTATION OF RATIOS Unassociated Document
EXHIBIT 12
 
 
APPALACHIAN POWER COMPANY AND SUBSIDIARIES
Computation of Consolidated Ratios of Earnings to Fixed Charges
(in thousands except ratio data) 
 
   
Year Ended December 31,
  
   
2003
  
2004
  
2005
  
2006
    
 2007
  
EARNINGS
                            
Income Before Income Taxes
  
$
308,003
  
$
238,226
  
$
202,021
  
$
282,865
   $
 195,613
  
Fixed Charges (as below)     123,721     110,735     118,365     151,874    
 178,067
  
Total Earnings
  
$
431,724
  
$
348,961
  
$
320,386
  
$
434,739
   $
373,680
  
                                 
FIXED CHARGES
                                
Interest Expense
  
$
115,202
  
$
99,135
  
$
106,301
  
$
129,106
   $
165,405
  
Credit for Allowance for Borrowed Funds Used
   During Construction
     5,319     8,100     8,764     17,668    
 6,962
  
Estimated Interest Element in Lease Rentals     3,200     3,500     3,300     5,100    
 5,700
  
Total Fixed Charges
  
$
123,721
  
$
110,735
  
$
118,365
  
$
151,874
   $
 178,067
  
                                 
Ratio of Earnings to Fixed Charges
    
3.48
    
3.15
    
2.70
    
2.86
    
 2.09