EX-12.01 6 a2014oge10-kxex1201.htm EXHIBIT 12.01 2014 OGE 10-K - Ex. 12.01


Exhibit 12.01

OGE Energy Corp.
Ratio of Earnings to Fixed Charges

Year ended December 31 (In millions)
2014
2013
2012
2011
2010
 
 
 
 
 
 
Earnings:
 
 
 
 
 
Pre-tax income (A)
$
396.0

$
422.2

$
520.1

$
524.3

$
461.4

Add: Fixed charges
153.9

157.2

174.4

161.8

150.1

Distributions received from equity method investment
143.7

51.7

—

—

—

Subtotal
693.6

631.1

694.5

686.1

611.5

 
 
 
 
 
 
Subtract:
 
 
 
 
 
Allowance for borrowed funds used during construction
2.4

3.4

3.5

10.4

5.5

Other capitalized interest
—

2.0

4.5

8.7

2.5

Total earnings
691.2

625.7

686.5

667.0

603.5

 
 
 
 
 
 
Fixed Charges:
 
 
 
 
 
Interest on long-term debt
144.6

147.6

163.4

154.8

141.8

Interest on short-term debt and other interest charges
6.2

5.3

8.7

5.2

5.9

Calculated interest on leased property
3.1

4.3

2.3

1.8

2.4

Total fixed charges
$
153.9

$
157.2

$
174.4

$
161.8

$
150.1

 
 
 
 
 
 
Ratio of Earnings to Fixed Charges
4.49

3.98

3.94

4.12

4.02

(A)Excludes amounts attributable to income or loss from equity method investment.