Exhibit 12
DPL INC.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(in $ thousands, except ratios)
YEAR | YEAR | YEAR | YEAR | YEAR | ||||||||||||
ENDED | ENDED | ENDED | ENDED | ENDED | ||||||||||||
12/31/2005 | 12/31/2004 | 12/31/2003 | 12/31/2002 | 12/31/2001 | ||||||||||||
Fixed Charges: | ||||||||||||||||
Interest on First Mortgage Bonds | 31,226 | 30,351 | 42,093 | 42,539 | 42,557 | |||||||||||
Total Interest and Preferred Dividend less Interest on FMB | 167,645 | 129,889 | 139,586 | 112,313 | 94,424 | |||||||||||
Less Debt Reduction Expenses | (57,056 | ) | 0 | 0 | 0 | 0 | ||||||||||
Trust Preferred Distributions | 0 | 0 | 0 | 24,632 | 39,507 | |||||||||||
Interest Component of Rentals | 53 | 74 | 117 | 117 | 129 | |||||||||||
Total Fixed Charges | 141,868 | 160,314 | 181,796 | 179,601 | 176,617 | |||||||||||
Earnings: | ||||||||||||||||
Net Income before Extraordinary Items (w/o Discontinued Opens) | 124,700 | 121,500 | 114,900 | 177,600 | 227,000 | |||||||||||
Preferred Dividends | 834 | 947 | 874 | 874 | 873 | |||||||||||
Plus: Income Taxes on Continuing Operations | 79,900 | 66,500 | 74,800 | 100,800 | 110,600 | |||||||||||
Fixed Charges (defined above) | 141,868 | 160,314 | 181,796 | 179,601 | 176,617 | |||||||||||
Total | 347,302 | 349,261 | 372,370 | 458,875 | 515,090 | |||||||||||
Ratio = Earnings/ | 347,302 | 349,261 | 372,370 | 458,875 | 515,090 | |||||||||||
Fixed Charges | 141,868 | 160,314 | 181,796 | 179,601 | 176,617 | |||||||||||
Ratio of Earnings to Fixed Charges - (SEC Method) | 2.448 | 2.179 | 2.048 | 2.555 | 2.916 | |||||||||||
2.45 | 2.18 | 2.05 | 2.55 | 2.92 |