EX-12 7 ex12apco4q.htm COMPUTATION OF RATIOS Unassociated Document
EXHIBIT 12
 
 
APPALACHIAN POWER COMPANY AND SUBSIDIARIES
Computation of Consolidated Ratios of Earnings to Fixed Charges
(in thousands except ratio data)
 
   
Year Ended December 31,
  
   
2005
  
2006
  
2007
    
 2008
  
2009
  
EARNINGS
                             
Income Before Income Taxes
  
$
202,021
  
$
282,865
  
$
195,613
   $ 166,801   $ 201,263  
Fixed Charges (as below)     118,365     151,874     178,067     225,573     215,640  
Total Earnings
  
$
320,386
  
$
434,739
  
$
373,680
   $ 392,374   $ 416,903  
                                 
FIXED CHARGES
                                
Interest Expense
  
$
106,301
  
$
129,106
  
$
165,405
   $ 209,733   $ 202,426  
Credit for Allowance for Borrowed Funds Used
   During Construction
     8,764     17,668     6,962     9,040     6,014  
Estimated Interest Element in Lease Rentals     3,300     5,100     5,700    
6,800
     7,200  
Total Fixed Charges
  
$
118,365
  
$
151,874
  
$
178,067
   $ 225,573   $ 215,640  
                                 
Ratio of Earnings to Fixed Charges
    
2.70
    
2.86
    
2.09
     1.73     1.93