EX-12 5 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)
 
   
Years Ended December 31,
  
   
2006
  
2007
    
 2008
  
2009
   2010  
EARNINGS
                              
Income Before Income Taxes
  
$
282,865
  
$
195,613
   $ 166,801   $ 201,263   $ 210,898   
Fixed Charges (as below)     151,874     178,067     225,573     215,640     217,500   
Total Earnings
  
$
434,739
  
$
373,680
   $ 392,374   $ 416,903   $ 428,398   
                                 
FIXED CHARGES
                                
Interest Expense
  
$
129,106
  
$
165,405
   $ 209,733   $ 202,426   $ 207,649   
Credit for Allowance for Borrowed Funds Used
   During Construction
     17,668     6,962     9,040     6,014     2,251   
Estimated Interest Element in Lease Rentals     5,100     5,700    
6,800
     7,200     7,600   
Total Fixed Charges
  
$
151,874
  
$
178,067
   $ 225,573   $ 215,640   $ 217,500   
                                 
Ratio of Earnings to Fixed Charges
    
2.86
    
2.09
     1.73     1.93     1.96