EX-12 17 ex12opco4q.htm COMPUTATION OF RATIOS - OPCO Unassociated Document
 
EXHIBIT 12
 
 
OHIO POWER COMPANY AND SUBSIDIARY
Computation of Consolidated Ratios of Earnings to Fixed Charges
(in thousands except ratio data)
 
     Years Ended December 31,  
   
2008
   2009     2010    2011      2012  
EARNINGS
                               
Income Before Income Taxes
  
$
 693,946   $ 890,471   $ 842,922   $ 678,690   $ 487,817  
Fixed Charges (as below)
     318,684     283,540     269,886      248,026     245,446  
Total Earnings
  
$
 1,012,630   $ 1,174,011   $  1,112,808   $ 926,716   $ 733,263  
                                 
FIXED CHARGES
                                
Interest Expense
  
$
 265,938   $ 241,134   $  242,000   $ 221,976   $ 213,100  
Credit for Allowance for Borrowed Funds
   Used During Construction
     27,946     16,506      3,786     2,350     9,046  
Estimated Interest Element in Lease Rentals     24,800     25,900      24,100      23,700     23,300  
Total Fixed Charges
  
$
 318,684   $ 283,540   $  269,886   $  248,026   $ 245,446  
                                 
Ratio of Earnings to Fixed Charges
     3.17     4.14     4.12      3.73     2.98