EXHIBIT 12
AMERICAN ELECTRIC POWER COMPANY, INC. AND SUBSIDIARIES
Computation of Consolidated Ratios of Earnings to Fixed Charges
(in millions except ratio data)
Year Ended December 31, | Twelve Months Ended | ||||||||||||||||||
2000 | 2001 | 2002 | 2003 | 2004 | 9/30/05 | ||||||||||||||
FIXED CHARGES | |||||||||||||||||||
Interest on Long-term Debt | $ | 608 | $ | 599 | $ | 642 | $ | 735 | $ | 673 | $ | 625 | |||||||
Interest on Short-term Debt | 258 | 143 | 62 | 23 | 17 | 15 | |||||||||||||
Miscellaneous Interest Charges | 161 | 133 | 103 | 80 | 113 | 102 | |||||||||||||
Estimated Interest Element in Lease Rentals | 241 | 242 | 255 | 232 | 215 | 215 | |||||||||||||
Preferred Stock Dividends | 32 | 15 | 18 | 15 | 9 | 10 | |||||||||||||
Total Fixed Charges | $ | 1,300 | $ | 1,132 | $ | 1,080 | $ | 1,085 | $ | 1,027 | $ | 967 | |||||||
EARNINGS | |||||||||||||||||||
Income Before Income Taxes | $ | 779 | $ | 1,513 | $ | 800 | $ | 880 | $ | 1,699 | $ | 1,811 | |||||||
Plus Fixed Charges (as above) | 1,300 | 1,132 | 1,080 | 1,085 | 1,027 | 967 | |||||||||||||
Less Undistributed Earnings in Equity Investments | 46 | 28 | 12 | 10 | 18 | 13 | |||||||||||||
Total Earnings | $ | 2,033 | $ | 2,617 | $ | 1,868 | $ | 1,955 | $ | 2,708 | $ | 2,765 | |||||||
Ratio of Earnings to Fixed Charges | 1.56 | 2.31 | 1.72 | 1.80 | 2.63 | 2.85 |