EX-12 4 ex12aep1q.htm COMPUTATION OF RATIOS Unassociated Document
EXHIBIT 12
 
 
AMERICAN ELECTRIC POWER COMPANY, INC. AND SUBSIDIAIRIES
Computation of Consolidated Ratios of Earnings to Fixed Charges
(in millions except ratio data)
 
         Twelve     Three  
          Months     Months  
   
Year Ended December 31,
     Ended     Ended  
   
2005
  
2006
  
2007
  
2008
  
2009
   3/31/2010    3/31/2010   
EARNINGS
                                        
Income Before Income Tax Expense and Equity Earnings
  
$
 1,463  
$
1,483
  
$
1,663
  
$
2,015
  
$
1,938
  
$
 1,945  
$
 549  
Fixed Charges (as below)
    
913
    
999
    
1,146
    
1,240
    
1,237
     1,240     313  
Preferred Security Dividend Requirements of
   Consolidated Subsidiaries
      (10 )     (4 )     (4 )     (4 )     (4 )    (4 )    (1 ) 
Total Earnings
  
$
2,366
  
$
2,478
  
$
2,805
  
$
3,251
   $
3,171
   $ 3,181  
$
 861  
                                             
FIXED CHARGES
                                            
Interest Expense
  
$
694
  
$
729
  
$
838
  
$
957
   $ 973  
$
 985  
$
 250  
Credit for Allowance for Borrowed Funds Used
   During Construction
    
36
    
82
    
79
    
75
     67     58     14  
Estimated Interest Element in Lease Rentals     173     184     225     204     193     193     48  
Preferred Security Dividend Requirements of
   Consolidated Subsidiaries
      10      4      4      4      4     4     1  
Total Fixed Charges
  
$
913
  
$
999
  
$
1,146
  
$
1,240
   $
1,237
  
$
 1,240  
$
 313  
                                             
Ratio of Earnings to Fixed Charges
    
2.59
    
2.48
    
2.44
    
2.62
    
2.56
     2.56     2.75