EX-12 4 x12pso.htm COMPUTATION OF RATIOS Computation of Ratios
EXHIBIT 12
 
 
PUBLIC SERVICE COMPANY OF OKLAHOMA
Computation of Ratios of Earnings to Fixed Charges
(in thousands except ratio data) 
 
   
Year Ended December 31,
  
   
2001
  
2002
  
2003
  
2004
  
2005
  
EARNINGS
                           
Income Before Income Taxes
  
$
92,624
  
$
63,443
  
$
91,728
  
$
45,351
  
$
88,378
  
Fixed Charges (as below)     46,156     42,377     46,787     39,475     36,762  
Total Earnings
  
$
138,780
  
$
105,820
  
$
138,515
  
$
84,826
  
$
125,140
  
                                 
FIXED CHARGES
                                
Interest Expense
  
$
39,249
  
$
40,422
  
$
44,784
  
$
37,957
  
$
34,094
  
Credit for Allowance for Borrowed Funds Used
   During Construction
    
5,570
     673     451     280     668  
Trust Dividends     -     (186 )    (93 )   (62 )    -  
Estimated Interest Element in Lease Rentals     1,337     1,468     1,645     1,300     2,000  
Total Fixed Charges
  
$
46,156
  
$
42,377
  
$
46,787
  
$
39,475
  
$
36,762
  
                                 
Ratio of Earnings to Fixed Charges
    
3.00
    
2.49
    
2.96
    
2.14
    
3.40