EX-12 3 aepex12.txt EXHIBIT 12 EXHIBIT 12 AMERICAN ELECTRIC POWER COMPANY, INC. AND SUBSIDIARIES Computation of Consolidated Ratios of Earnings to Fixed Charges (in millions except ratio data)
Twelve Months Year Ended December 31, Ended ---------------------------------------------- 1998 1999 2000 2001 2002 3/31/03 ---- ---- ---- ---- ---- ------- Fixed Charges: Interest on Long-term Debt $ 569 $ 618 $ 618 $ 605 $ 642 $ 665 Interest on Short-term Debt 134 149 259 148 67 52 Miscellaneous Interest Charges 77 77 161 132 106 105 Estimated Interest Element in Lease Rentals 222 212 223 222 229 229 Preferred Stock Dividends 29 28 32 15 84 85 ------ ------ ------ ------ ------ ------ Total Fixed Charges $1,031 $1,084 $1,293 $1,122 $1,128 $1,136 ====== ====== ====== ====== ====== ====== Earnings: Income Before Income Taxes $1,357 $1,333 $ 782 $1,463 $ 235 $ 446 Plus Fixed Charges (as above) 1,031 1,084 1,293 1,122 1,128 1,136 Less Undistributed Earnings in Equity Investments 42 46 46 28 12 13 ------ ------ ------ ------ ------ ------ Total Earnings $2,346 $2,371 $2,029 $2,557 $1,351 $1,569 ====== ====== ====== ====== ====== ====== Ratio of Earnings to Fixed Charges 2.27 2.18 1.56 2.27 1.19 1.38 ==== ==== ==== ==== ==== ====