EXHIBIT 12
COLUMBUS SOUTHERN POWER COMPANY
Computation of Consolidated Ratios of Earnings to Fixed Charges
(in thousands except ratio data)
Twelve
Months
Year Ended December 31, Ended
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1996 1997 1998 1999 2000 6/30/01
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Fixed Charges:
Interest on First Mortgage Bonds. . . . . . . . $59,711 $55,156 $47,323 $43,207 $40,602 $39,810
Interest on Other Long-term Debt. . . . . . . . 12,125 15,525 23,594 25,878 25,878 25,913
Interest on Short-term Debt . . . . . . . . . . 2,400 5,104 3,493 2,460 2,412 3,961
Miscellaneous Interest Charges. . . . . . . . . 4,374 4,729 4,459 4,659 14,205 14,100
Estimated Interest Element in Lease Rentals . . 4,600 4,100 5,300 4,600 5,300 5,300
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Total Fixed Charges. . . . . . . . . . . . $83,210 $84,614 $84,169 $80,804 $88,397 $89,084
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Earnings:
Income Before Extraordinary Item . . . . . . $107,108 $119,379 $133,044 $150,270 $120,202 $142,485
Plus Federal Income Taxes . . . . . . . . . . . 60,302 69,760 71,202 82,686 116,590 119,044
Plus State Income Taxes . . . . . . . . . . . . 11 6 3 89 136 2,199
Plus Fixed Charges (as above) . . . . . . . . . 83,210 84,614 84,169 80,804 88,397 89,084
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Total Earnings . . . . . . . . . . . . . . $250,631 $273,759 $288,418 $313,849 $325,325 $352,812
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Ratio of Earnings to Fixed Charges. . . . . . . . 3.01 3.23 3.42 3.88 3.68 3.96
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