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EXHIBIT 12
KENTUCKY POWER COMPANY
Computation of Ratio 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 6/30/00
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Fixed Charges:
Interest on First Mortgage Bonds . . . . . . $19,090 $14,914 $14,867 $13,936 $12,712 $10,624
Interest on Other Long-term Debt . . . . . . 2,422 6,446 8,597 12,188 13,525 15,450
Interest on Short-term Debt. . . . . . . . . 2,242 2,849 3,034 2,455 2,552 3,303
Miscellaneous Interest Charges . . . . . . . 510 555 559 634 869 1,062
Estimated Interest Element in Lease Rentals. 700 800 1,700 1,500 1,200 1,200
Total Fixed Charges . . . . . . . . . . $24,964 $25,564 $28,757 $30,713 $30,858 $31,639
Earnings:
Net Income . . . . . . . . . . . . . . . . . $25,128 $16,973 $20,746 $21,676 $25,430 $24,727
Plus Federal Income Taxes. . . . . . . . . . 3,914 5,119 9,415 9,785 12,993 12,572
Plus State Income Taxes. . . . . . . . . . . 1,420 598 2,190 2,096 2,784 3,344
Plus Fixed Charges (as above). . . . . . . . 24,964 25,564 28,757 30,713 30,858 31,639
Total Earnings. . . . . . . . . . . . . $55,426 $48,254 $61,108 $64,270 $72,065 $72,282
Ratio of Earnings to Fixed Charges . . . . . . 2.22 1.88 2.12 2.09 2.33 2.28
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