EX-12 4 x12aep.htm COMPUTATION OF RATIOS Unassociated Document
EXHIBIT 12
 
 
AMERICAN ELECTRIC POWER COMPANY, INC. AND SUBSIDIARIES
Computation of Consolidated Ratios of Earnings to Fixed Charges
(in millions except ratio data)
 
   
Year Ended December 31,
 
Twelve
Months
Ended
 
   
2001
 
2002
 
2003
 
2004
 
2005
 
3/31/06
 
EARNINGS
                                     
Income Before Income Tax Expense,
   Minority Interest Expense and Equity Earnings
 
$
1,481
 
$
814
 
$
872
 
$
1,684
 
$
1,453
 
$
1,498
 
Fixed Charges (as below)
   
1,103
   
1,048
   
1,050
   
989
   
916
   
919
 
Preferred Security Dividend Requirements of
   Consolidated Subsidiaries
   
(15
 
(18
)  
(15
)  
(9
)  
(10
)  
(9
)
Total Earnings
 
$
2,569
 
$
1,844
 
$
1,907
 
$
2,664
 
$
2,359
 
$
2,408
 
                                       
FIXED CHARGES
                                     
Interest Expense
 
$
833
 
$
775
 
$
814
 
$
781
 
$
697
 
$
692
 
Credit for Allowance for Borrowed Funds Used
   During Construction
   
42
   
32
   
24
   
22
   
36
   
45
 
Estimated Interest Element in Lease Rentals 
   
213
   
223
   
197
   
177
   
173
   
173
 
Preferred Security Dividend Requirements of
   Consolidated Subsidiaries
    15     18     15     9     10     9  
Total Fixed Charges
 
$
1,103
 
$
1,048
 
$
1,050
 
$
989
 
$
916
 
$
919
 
                                       
Ratio of Earnings to Fixed Charges
   
2.32
   
1.75
   
1.81
   
2.69
   
2.57
   
2.62