EX-12 17 ex12im4q.htm COMPUTATION OF RATIOS - I&M Unassociated Document
EXHIBIT 12
 
 
INDIANA MICHIGAN POWER COMPANY AND SUBSIDIARIES
Computation of Consolidated Ratios of Earnings to Fixed Charges
(in thousands except ratio data)
 
    Years Ended December 31,  
   
2007
    
2008
     2009    2010     2011  
EARNINGS
                               
Income Before Income Taxes
  
$
204,394
  
$
 190,133   $ 297,347   $ 189,517   $  201,434  
Fixed Charges (as below)
    
161,849
     164,660     173,293     174,965     168,003  
Total Earnings
  
$
366,243
   $ 354,793   $ 470,640   $ 364,482   $  369,437  
                                 
FIXED CHARGES
                                
Interest Expense
  
$
80,034
   $ 89,851   $ 101,145   $ 104,465   $  97,665  
Credit for Allowance for Borrowed Funds Used
   During Construction
    
5,315
     4,609     8,348     8,500     7,838  
Estimated Interest Element in Lease Rentals     76,500     70,200     63,800     62,000     62,500  
Total Fixed Charges
  
$
161,849
   $ 164,660   $ 173,293   $ 174,965   $  168,003  
                                 
Ratio of Earnings to Fixed Charges
    
2.26
     2.15     2.71     2.08     2.19