EXHIBIT 12.01
OGE Energy Corp.
S E C Method of
Ratio of Earnings to Fixed Charges
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Year Ended Year Ended Year Ended Year Ended Year Ended Year Ended
Dec 31, 1994 Dec 31, 1995 Dec 31, 1996 Dec 31, 1997 Dec 31, 1998 Jun 30, 1999
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Earnings:
Net Income $123,785,002 $125,256,125 $133,331,785 $132,549,628 $165,871,829 $167,223,193
Provision For Income Taxes 72,273,713 70,252,859 77,712,155 76,485,740 108,553,778 104,936,360
Plus Fixed Charges 76,346,348 79,380,098 69,390,216 67,591,372 72,241,733 78,499,882
Total Earnings $272,405,063 $274,889,082 $280,434,156 $276,626,740 $346,667,340 $350,659,435
Fixed Charges:
Long-term debt interest 67,679,872 67,549,226 62,412,619 62,572,384 60,856,017 63,748,409
Other interest expense 7,907,183 11,365,754 6,281,023 4,521,764 10,913,855 13,610,826
Calculated int on
leased property 759,293 465,118 696,574 497,224 471,861 1,140,647
Total Fixed Charges $76,346,348 $79,380,098 $69,390,216 $67,591,372 $72,241,733 $78,499,882
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Ratio of Earnings to Fixed Charges 3.57 3.46 4.04 4.09 4.80 4.47
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OGE Energy Corp.
S E C Method of
Pro Forma Ratio of Earnings to Fixed Charges
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Year Ended Six Months Ended
Dec 31, 1998 June 30, 1999
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Earnings:
Net Income $132,728,000 $ 44,608,000
Plus Income Taxes: 86,913,000 20,522,000
Plus Fixed Charges 115,854,000 60,418,375
Total Earnings $335,495,000 125,548,375
Fixed Charges:
Long-term debt interest 104,468,000 52,059,000
Other interest expense 10,914,000 7,803,000
Calculated int on
leased property 472,000 556,375
Total Fixed Charges $115,854,000 $60,418,375
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Pro Forma Ratio of Earnings to Fixed Charges 2.90 2.08
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