Appalachian Power 10-Q2008 Q2 Quarterly report

Filed: 1 Aug 08, 12:00am

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Readability	8th grade Avg

New words: Acid, ambient, ANPR, assistance, AU, automatic, Brian, burden, CAIR, calendar, CAMR, Cape, care, Curry, delisting, denial, descending, discretionary, diversify, Dock, Dolly, Drinking, dropped, Ehler, eleven, eligible, Erlbacher, ESP, Fairly, fifteen, formulating, GCRR, Girardeau, handling, Hurricane, implication, implied, injection, intangible, jury, Kent, land, LOC, manipulation, Missouri, mobile, mode, MRO, Munczinski, newly, ODC, optimization, ozone, POLR, preliminarily, Rain, rapidly, reacquired, reacquisition, reissue, repowering, Resort, Richard, SIP, Spring, stationary, stop, stringent, suffered, surrendered, Tierney, ton, tonnage, tool, transformed, triennial, UIC, underway, unexpected, Universal, urea, variety, verdict, vesting, withdrew, yielding

Removed: Allegheny, arrange, companion, composed, counter, criteria, doctrine, driver, eliminating, evenly, excise, expenditure, expired, extend, formed, Highline, impairment, inappropriate, issuer, MBT, member, PATH, possession, remarketing, restricted, resultant, serving, signature, Single, WV

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EXHIBIT 12

APPALACHIAN POWER COMPANY AND SUBSIDIARIES

Computation of Consolidated Ratios of Earnings to Fixed Charges

(in thousands except ratio data)

											Twelve		Six
											Months		Months
	Year Ended December 31,										Ended		Ended
	2003		2004		2005		2006			2007	6/30/2008		6/30/2008
EARNINGS
Income Before Income Taxes	$	308,003	$	238,226	$	202,021	$	282,865	$	195,613	$	198,457	$	116,587
Fixed Charges (as below)		123,721		110,735		118,365		151,874		178,067		193,492		98,844
Total Earnings	$	431,724	$	348,961	$	320,386	$	434,739	$	373,680	$	391,949	$	215,431

FIXED CHARGES
Interest Expense	$	115,202	$	99,135	$	106,301	$	129,106	$	165,405	$	179,886	$	91,259
Credit for Allowance for Borrowed Funds Used During Construction		5,319		8,100		8,764		17,668		6,962		7,906		4,735
Estimated Interest Element in Lease Rentals		3,200		3,500		3,300		5,100		5,700		5,700		2,850
Total Fixed Charges	$	123,721	$	110,735	$	118,365	$	151,874	$	178,067	$	193,492	$	98,844

Ratio of Earnings to Fixed Charges		3.48		3.15		2.70		2.86		2.09		2.02		2.17