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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1997 1998 1999 2000 2001 3/31/02
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Fixed Charges:
Interest on First Mortgage Bonds $55,156 $47,323 $43,207 $40,602 $34,575 $29,153
Interest on Other Long-term Debt 15,525 23,594 25,878 25,878 27,365 28,405
Interest on Short-term Debt 5,104 3,493 2,460 2,412 4,914 5,152
Miscellaneous Interest Charges 4,729 4,459 4,659 14,205 3,755 3,359
Estimated Interest Element in Lease Rentals 4,100 5,300 4,600 5,300 4,800 4,800
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Total Fixes Charges $84,614 $84,169 $80,804 $88,397 $75,409 $70,869
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Earnings:
Income Before Extraordinary Item $119,379 $133,044 $150,270 $120,202 $191,900 $188,087
Plus Federal Income Taxes 69,760 71,202 82,686 116,590 94,148 92,896
Plus State Income Taxes 6 3 89 136 8,811 7,932
Plus Fixed Charges (as above) 84,614 84,169 80,804 88,397 75,409 70,869
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Total Earnings $273,759 $288,418 $313,849 $325,325 $370,268 $359,784
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Ratio of Earnings to Fixed Charges 3.23 3.42 3.88 3.68 4.91 5.07
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