EXHIBIT 12
OHIO 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 $ 45,540 $ 33,663 $ 25,506 $ 22,901 $ 19,898 $16,634
Interest on Other Long-term Debt 29,620 38,520 49,125 58,605 61,960 64,925
Interest on Short-term Debt 4,519 5,821 8,327 8,614 14,628 14,583
Miscellaneous Interest Charges 4,464 4,617 5,016 34,417 4,806 3,545
Estimated Interest Element in Lease Rentals 52,900 59,300 53,400 51,600 48,200 48,200
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Total Fixed Charges $137,043 $141,921 $141,374 $176,137 $149,492 $147,887
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Earnings:
Income Before Extraordinary Item $208,689 $209,925 $212,157 $102,613 $165,793 $176,447
Plus Federal Income Taxes 121,559 112,087 130,814 208,737 83,990 85,377
Plus State Income Taxes 2,655 2,742 1,677 (3,058) 15,003 18,671
Plus Fixed Charges (as above) 137,043 141,921 141,374 176,137 149,492 147,887
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Total Earnings $469,946 $466,675 $486,022 $484,429 $414,278 $428,382
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Ratio of Earnings to Fixed Charges 3.42 3.28 3.43 2.75 2.77 2.89
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