Public Service Co Of Oklahoma 10-K 2017 FY Annual report

EXHIBIT 12

OHIO POWER COMPANY AND SUBSIDIARIES

Computation of Consolidated Ratios of Earnings to Fixed Charges

(in millions except ratio data)

	Years Ended December 31,
	2013		2014		2015		2016		2017
EARNINGS
Income Before Income Taxes	$	635.7	$	348.6	$	359.2	$	426.0	$	483.2
Fixed Charges (as below)	215.5		136.1		135.7		118.4		108.9
Total Earnings	$	851.2	$	484.7	$	494.9	$	544.4	$	592.1
FIXED CHARGES
Interest Expense	$	182.0	$	128.3	$	127.8	$	112.2	$	101.9
Credit for Allowance for Borrowed Funds    Used During Construction	10.1		4.4		4.8		3.3		3.8
Estimated Interest Element in Lease Rentals	23.4		3.4		3.1		2.9		3.2
Total Fixed Charges	$	215.5	$	136.1	$	135.7	$	118.4	$	108.9
Ratio of Earnings to Fixed Charges	3.94		3.56		3.64		4.59		5.43