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EXHIBIT 12
APPALACHIAN POWER COMPANY
Computation of Consolidated 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 9/30/00
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Fixed Charges:
Interest on First Mortgage Bonds. . . . . . . . $ 80,777 $ 82,082 $ 81,009 $ 72,057 $ 65,697 $ 58,033
Interest on Other Long-term Debt. . . . . . . . 16,404 18,025 28,163 40,642 50,712 58,468
Interest on Short-term Debt . . . . . . . . . . 5,119 3,639 4,569 4,245 5,959 8,176
Miscellaneous Interest Charges. . . . . . . . . 5,323 7,327 6,857 11,470 8,212 5,142
Estimated Interest Element in Lease Rentals . . 7,000 6,600 6,000 5,900 6,100 6,100
Total Fixed Charges. . . . . . . . . . . . $114,623 $117,673 $126,598 $134,314 $136,680 $135,919
Earnings:
Net Income. . . . . . . . . . . . . . . . . . . $115,900 $133,689 $120,514 $ 93,330 $120,492 $157,488
Plus Federal Income Taxes . . . . . . . . . . . 53,355 65,801 54,835 43,941 70,950 83,675
Plus State Income Taxes . . . . . . . . . . . . 7,273 10,180 8,109 6,845 5,085 4,296
Plus Fixed Charges (as above) . . . . . . . . . 114,623 117,673 126,598 134,314 136,680 135,919
Total Earnings . . . . . . . . . . . . . . $291,151 $327,343 $310,056 $278,430 $333,207 $381,378
Ratio of Earnings to Fixed Charges. . . . . . . . 2.54 2.78 2.44 2.07 2.43 2.80
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