EX-12 4 ex12opco2q.htm COMPUTATION OF RATIOS 1350 Certification of CFO
 
EXHIBIT 12
 
 
OHIO POWER COMPANY CONSOLIDATED
Computation of Consolidated Ratios of Earnings to Fixed Charges
(in thousands except ratio data) 
   
Year Ended December 31,
  
Twelve Months Ended 
    
Six
Months Ended
  
   
2001 
  
2002 
  
2003 
  
2004 
  
2005 
  
6/30/2006 
    
 6/30/2006
  
EARNINGS
                                            
Income Before Income Taxes
  
$
264,786
  
$
351,614
  
$
389,430
  
$
306,226
  
$
375,397
  
$
291,794
   $
 171,483
  
Fixed Charges (as below)
    
149,492
    
121,573
    
126,168
    
130,599
    
125,551
    
133,780
    
 68,831
  
Total Earnings
  
$
414,278
  
$
473,187
  
$
515,598
  
$
436,825
  
$
500,948
  
$
425,574
   $
 240,314
  
                                             
FIXED CHARGES
                                            
Interest Expense
  
$
93,603
  
$
83,682
  
$
106,464
  
$
118,685
  
$
103,352
  
$
99,201
   $
 47,851
  
Credit for Allowance for Borrowed Funds
   Used During Construction
    
7,689
    
6,691
    
3,904
    
4,814
    
16,399
    
28,779
    
 18,080
  
Estimated Interest Element in Lease
   Rentals
    
48,200
    
31,200
    
15,800
    
7,100
    
5,800
    
5,800
    
 2,900
  
Total Fixed Charges
  
$
149,492
  
$
121,573
  
$
126,168
  
$
130,599
  
$
125,551
  
$
133,780
   $
 68,831
  
                                             
Ratio of Earnings to Fixed Charges
    
2.77
    
3.89
    
4.08
    
3.34
    
3.98
     3.18    
 3.49