EXHIBIT 12
AMERICAN ELECTRIC POWER COMPANY, INC.
Computation of Consolidated Ratio of Earnings to Fixed Charges
(in millions 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 Long-term Debt . . . . . . . . . . . $ 679 $ 698 $ 682 $ 773 $ 768 $ 743
Interest on Short-term Debt. . . . . . . . . . . 99 107 134 149 259 239
Miscellaneous Interest Charges . . . . . . . . . 35 50 77 77 161 200
Estimated Interest Element in Lease Rentals. . . 222 221 222 212 217 217
Preferred Stock Dividends. . . . . . . . . . . . 94 45 29 28 32 28
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Total Fixed Charges. . . . . . . . . . . . $1,129 $1,121 $1,144 $1,239 $1,437 $1,427
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Earnings:
Income Before Income Taxes . . . . . . . . . . . $1,394 $1,414 $1,477 $1,468 $ 899 $1,537
Plus Fixed Charges (as above). . . . . . . . . . 1,129 1,121 1,144 1,239 1,437 1,427
Less Undistributed Earnings in
Equity Investments. . . . . . . . . . . . . . . 11 36 42 46 46 44
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Total Earnings. . . . . . . . . . . . . . . $2,512 $2,499 $2,579 $2,661 $2,290 $3,008
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Ratio of Earnings to Fixed Charges . . . . . . . . 2.22 2.22 2.25 2.14 1.59 2.10
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