EX-12 2 ex12opco4q.htm COMPUTATION OF RATIOS Unassociated Document
 
EXHIBIT 12
 
 
OHIO POWER COMPANY CONSOLIDATED
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
  
$
308,472
  
$
378,185
  
$
349,758
  
$
419,771
  
$
 347,077  
Fixed Charges (as below)
     128,353    
122,763
    
146,226
    
171,171
     209,339  
Total Earnings
  
$
436,825
  
$
500,948
  
$
495,984
  
$
590,942
  
$
 556,416  
                                 
FIXED CHARGES
                                
Interest Expense
  
$
116,439
  
$
100,564
  
$
94,293
  
$
124,730
  
$
 173,870  
Credit for Allowance for Borrowed Funds
   Used During Construction
     4,814     16,399     42,733     36,641     25,269  
Estimated Interest Element in Lease Rentals     7,100     5,800     9,200     9,800     10,200  
Total Fixed Charges
  
$
128,353
  
$
122,763
  
$
146,226
  
$
 171,171  
$
 209,339  
                                 
Ratio of Earnings to Fixed Charges
    
3.40
    
4.08
    
3.39
    
3.45
     2.65