EX-12 6 ex12pso4q.htm COMPUTATION OF RATIOS Unassociated Document
EXHIBIT 12
 
 
PUBLIC SERVICE COMPANY OF OKLAHOMA
Computation of Ratios of Earnings to Fixed Charges
(in thousands except ratio data) 

 
   
Year ended December 31,
  
   
2003 
  
2004
  
2005 
  
2006 
    
2007
  
EARNINGS
                                
Income (Loss) Before Income Taxes
  
$
91,728
  
$
45,351
  
$
88,378
  
$
52,847
   $
(46,139
)
Fixed Charges (as below)
    
46,787
    
39,475
    
36,762
    
44,769
    
54,716
  
Total Earnings
  
$
138,515
  
$
84,826
  
$
125,140
  
$
97,616
   $
8,577
  
                                 
FIXED CHARGES
                                
Interest Expense
  
$
44,784
  
$
37,957
  
$
34,094
  
$
40,778
   $
46,560
  
Credit for Allowance for Borrowed Funds Used
   During Construction
    
451
    
280
    
668
    
1,491
    
5,156
  
Trust Dividends
    
(93
)
  
(62
)
  
-
 
  
-
    
 -
  
Estimated Interest Element in Lease Rentals
    
1,645
    
1,300
    
2,000
    
2,500
    
3,000
  
Total Fixed Charges
  
$
46,787
  
$
39,475
  
$
36,762
  
$
44,769
   $
54,716
  
                                 
Ratio of Earnings to Fixed Charges
    
2.96
    
2.14
    
3.40
    
2.18
    
0.15