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EXHIBIT 12
COLUMBUS SOUTHERN POWER COMPANY
Computation of Consolidated Ratios of Earnings to Fixed Charges
(in thousands except ratio data)
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Twelve
Months
Year Ended December 31, Ended
1995 1996 1997 1998 1999 9/30/00
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Fixed Charges:
Interest on First Mortgage Bonds. . . . . . . . $66,811 $59,711 $55,156 $47,323 $43,207 $41,064
Interest on Other Long-term Debt. . . . . . . . 8,829 12,125 15,525 23,594 25,878 25,878
Interest on Short-term Debt . . . . . . . . . . 1,328 2,400 5,104 3,493 2,460 1,938
Miscellaneous Interest Charges. . . . . . . . . 4,657 4,374 4,729 4,459 4,659 4,874
Estimated Interest Element in Lease Rentals . . 4,100 4,600 4,100 5,300 4,600 4,600
Total Fixed Charges. . . . . . . . . . . . $85,725 $83,210 $84,614 $84,169 $80,804 $78,354
Earnings:
Net Income (Loss) . . . . . . . . . . . . . . .$110,616 $107,108 $119,379 $133,044 $150,270 $127,686
Plus Federal Income Taxes . . . . . . . . . . . 58,648 60,302 69,760 71,202 82,686 86,079
Plus State Income Taxes . . . . . . . . . . . . 7 11 6 3 89 84
Plus Fixed Charges (as above) . . . . . . . . . 85,725 83,210 84,614 84,169 80,804 78,354
Total Earnings . . . . . . . . . . . . . .$254,996 $250,631 $273,759 $288,418 $313,849 $292,203
Ratio of Earnings to Fixed Charges. . . . . . . . 2.97 3.01 3.23 3.42 3.88 3.72
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