EX-12 2 0002.txt EXHIBIT 12 APPALACHIAN POWER COMPANY Computation of Consolidated Ratio of Earnings to Fixed Charges (in thousands except ratio data)
Twelve Months Year Ended December 31, Ended 1995 1996 1997 1998 1999 6/30/00 Fixed Charges: Interest on First Mortgage Bonds. . . . . . . . $ 80,777 $ 82,082 $ 81,009 $ 72,057 $ 65,697 $ 60,282 Interest on Other Long-term Debt. . . . . . . . 16,404 18,025 28,163 40,642 50,712 56,241 Interest on Short-term Debt . . . . . . . . . . 5,119 3,639 4,569 4,245 5,959 7,731 Miscellaneous Interest Charges. . . . . . . . . 5,323 7,327 6,857 11,470 8,212 5,723 Estimated Interest Element in Lease Rentals . . 7,000 6,600 6,000 5,900 6,100 6,100 Total Fixed Charges. . . . . . . . . . . . $114,623 $117,673 $126,598 $134,314 $136,680 $136,077 Earnings: Net Income. . . . . . . . . . . . . . . . . . . $115,900 $133,689 $120,514 $ 93,330 $120,492 $157,037 Plus Federal Income Taxes . . . . . . . . . . . 53,355 65,801 54,835 43,941 70,950 85,169 Plus State Income Taxes . . . . . . . . . . . . 7,273 10,180 8,109 6,845 5,085 4,381 Plus Fixed Charges (as above) . . . . . . . . . 114,623 117,673 126,598 134,314 136,680 136,077 Total Earnings . . . . . . . . . . . . . . $291,151 $327,343 $310,056 $278,430 $333,207 $382,664 Ratio of Earnings to Fixed Charges. . . . . . . . 2.54 2.78 2.44 2.07 2.43 2.81