EXHIBIT 12
OHIO POWER COMPANY
Computation of Consolidated Ratio of Earnings to Fixed Charges
(in thousands except ratio data)
Year Ended December 31,
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1995 1996 1997 1998 1999
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Fixed Charges:
Interest on First Mortgage Bonds . . . . . . . . . $ 61,836 $ 52,147 $ 45,540 $ 33,663 $ 25,506
Interest on Other Long-term Debt . . . . . . . . . 23,193 27,045 29,620 38,520 49,125
Interest on Short-term Debt. . . . . . . . . . . . 2,658 4,006 4,519 5,821 8,327
Miscellaneous Interest Charges . . . . . . . . . . 7,126 3,705 4,464 4,617 5,016
Estimated Interest Element in Lease Rentals. . . . 50,700 53,200 52,900 59,300 53,400
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Total Fixed Charges . . . . . . . . . . . . . $145,513 $140,103 $137,043 $141,921 $141,374
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Earnings:
Net Income . . . . . . . . . . . . . . . . . . . . $189,447 $217,655 $208,689 $209,925 $212,157
Plus Federal Income Taxes. . . . . . . . . . . . . 93,699 117,243 121,559 112,087 130,814
Plus State Income Taxes. . . . . . . . . . . . . . 1,618 2,252 2,655 2,742 1,677
Plus Fixed Charges (as above). . . . . . . . . . . 145,513 140,103 137,043 141,921 141,374
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Total Earnings. . . . . . . . . . . . . . . . $430,277 $477,253 $469,946 $466,675 $486,022
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Ratio of Earnings to Fixed Charges . . . . . . . . . 2.95 3.40 3.42 3.28 3.43
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