EXHIBIT 12
OHIO POWER COMPANY
Computation of Consolidated Ratio 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 . . . . . . . . $ 52,147 $ 45,540 $ 33,663 $ 25,506 $ 22,901 $ 22,776
Interest on Other Long-term Debt . . . . . . . . 27,045 29,620 38,520 49,125 58,605 58,548
Interest on Short-term Debt. . . . . . . . . . . 4,006 4,519 5,821 8,327 8,614 11,005
Miscellaneous Interest Charges . . . . . . . . . 3,705 4,464 4,617 5,016 34,417 34,777
Estimated Interest Element in Lease Rentals. . . 53,200 52,900 59,300 53,400 51,600 51,600
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Total Fixed Charges. . . . . . . . . . . . $140,103 $137,043 $141,921 $141,374 $176,137 $178,706
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Earnings:
Income Before Extraordinary Item . . . . . . $217,655 $208,689 $209,925 $212,157 $102,613 $ 83,655
Plus Federal Income Taxes. . . . . . . . . . . . 117,243 121,559 112,087 130,814 208,737 192,667
Plus State Income Taxes. . . . . . . . . . . . . 2,252 2,655 2,742 1,677 (3,058) 464
Plus Fixed Charges (as above). . . . . . . . . . 140,103 137,043 141,921 141,374 176,137 178,706
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Total Earnings. . . . . . . . . . . . . . . $477,253 $469,946 $466,675 $486,022 $484,429 $455,492
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Ratio of Earnings to Fixed Charges . . . . . . . . 3.40 3.42 3.28 3.43 2.75 2.54
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