EX-12 16 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,
        
   
2004
  
2005
  
2006
  
2007
  
2008
  
EARNINGS
                             
Income Before Income Taxes
  
$
238,226
  
$
202,021
  
$
282,865
   $
 195,613
   $
 166,801
  
Fixed Charges (as below)     110,735     118,365     151,874    
 178,067
    
 225,573
  
Total Earnings
  
$
348,961
  
$
320,386
  
$
434,739
   $
373,680
   $
 392,374
  
                                 
FIXED CHARGES
                                
Interest Expense
  
$
99,135
  
$
106,301
  
$
129,106
   $
165,405
   $
 209,733
  
Credit for Allowance for Borrowed Funds Used
   During Construction
     8,100     8,764     17,668    
 6,962
    
 9,040
  
Estimated Interest Element in Lease Rentals     3,500     3,300     5,100    
 5,700
    
 6,800
  
Total Fixed Charges
  
$
110,735
  
$
118,365
  
$
151,874
   $
 178,067
   $
 225,573
  
                                 
Ratio of Earnings to Fixed Charges
    
3.15
    
2.70
    
2.86
    
 2.09
    
 1.73