EXHIBIT 12
AMERICAN ELECTRIC POWER COMPANY, INC. AND SUBSIDIAIRIES
Computation of Consolidated Ratios of Earnings to Fixed Charges
(in millions except ratio data)
Twelve | Six | |||||||||||||||||||||
Months | Months | |||||||||||||||||||||
Years Ended December 31, | Ended | Ended | ||||||||||||||||||||
2006 | 2007 | 2008 | 2009 | 2010 | 6/30/2011 | 6/30/2011 | ||||||||||||||||
EARNINGS | ||||||||||||||||||||||
Income Before Income Tax Expense and Equity Earnings | $ | 1,483 | $ | 1,663 | $ | 2,015 | $ | 1,938 | $ | 1,849 | $ | 2,247 | $ | 1,148 | ||||||||
Fixed Charges (as below) | 999 | 1,146 | 1,240 | 1,237 | 1,254 | 1,237 | 612 | |||||||||||||||
Preferred Security Dividend Requirements of Consolidated Subsidiaries | (4 | ) | (4 | ) | (4 | ) | (4 | ) | (4 | ) | (4 | ) | (2 | ) | ||||||||
Total Earnings | $ | 2,478 | $ | 2,805 | $ | 3,251 | $ | 3,171 | $ | 3,099 | $ | 3,480 | $ | 1,758 | ||||||||
FIXED CHARGES | ||||||||||||||||||||||
Interest Expense | $ | 729 | $ | 838 | $ | 957 | $ | 973 | $ | 999 | $ | 981 | $ | 481 | ||||||||
Credit for Allowance for Borrowed Funds Used During Construction | 82 | 79 | 75 | 67 | 53 | 54 | 30 | |||||||||||||||
Estimated Interest Element in Lease Rentals | 184 | 225 | 204 | 193 | 198 | 198 | 99 | |||||||||||||||
Preferred Security Dividend Requirements of Consolidated Subsidiaries | 4 | 4 | 4 | 4 | 4 | 4 | 2 | |||||||||||||||
Total Fixed Charges | $ | 999 | $ | 1,146 | $ | 1,240 | $ | 1,237 | $ | 1,254 | $ | 1,237 | $ | 612 | ||||||||
Ratio of Earnings to Fixed Charges | 2.48 | 2.44 | 2.62 | 2.56 | 2.47 | 2.81 | 2.87 |