EX-12.01 10 oge201110-kxex1201.htm EXHIBIT 12.01 OGE 2011 10-K - Ex. 12.01


Exhibit 12.01

OGE Energy Corp.
Ratio of Earnings to Fixed Charges

Year ended December 31 (In millions)
2007
2008
2009
2010
2011
 
 
 
 
 
 
Earnings:
 
 
 
 
 
Pre-tax income
$
361.9

$
338.6

$
382.2

$
461.4

$
524.3

Add: Fixed charges
97.6

130.0

154.5

150.1

161.8

Subtotal
459.5

468.6

536.7

611.5

686.1

 
 
 
 
 
 
Subtract:
 
 
 
 
 
Allowance for borrowed funds used during construction
4.0

4.0

8.3

5.5

10.4

Other capitalized interest
0.9

3.5

6.3

2.5

8.7

Total earnings
454.6

461.1

522.1

603.5

667.0

 
 
 
 
 
 
Fixed Charges:
 
 
 
 
 
Interest on long-term debt
88.7

106.6

143.6

141.8

154.8

Interest on short-term debt and other interest charges
6.4

21.0

8.4

5.9

5.2

Calculated interest on leased property
2.5

2.4

2.5

2.4

1.8

Total fixed charges
$
97.6

$
130.0

$
154.5

$
150.1

$
161.8

 
 
 
 
 
 
Ratio of Earnings to Fixed Charges
4.66

3.55

3.38

4.02

4.12