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EXHIBIT 12
OHIO 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 6/30/00
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Fixed Charges:
Interest on First Mortgage Bonds. . . . . . . . $ 61,836 $ 52,147 $ 45,540 $ 33,663 $ 25,506 $ 23,153
Interest on Other Long-term Debt. . . . . . . . 23,193 27,045 29,620 38,520 49,125 54,749
Interest on Short-term Debt . . . . . . . . . . 2,658 4,006 4,519 5,821 8,327 9,354
Miscellaneous Interest Charges. . . . . . . . . 7,126 3,705 4,464 4,617 5,016 4,904
Estimated Interest Element in Lease Rentals . . 50,700 53,200 52,900 59,300 53,400 53,400
Total Fixed Charges. . . . . . . . . . . . $145,513 $140,103 $137,043 $141,921 $141,374 $145,560
Earnings:
Net Income. . . . . . . . . . . . . . . . . . . $189,447 $217,655 $208,689 $209,925 $212,157 $203,920
Plus Federal Income Taxes . . . . . . . . . . . 93,699 117,243 121,559 112,087 130,814 132,002
Plus State Income Taxes . . . . . . . . . . . . 1,618 2,252 2,655 2,742 1,677 (1,178)
Plus Fixed Charges (as above) . . . . . . . . . 145,513 140,103 137,043 141,921 141,374 145,560
Total Earnings . . . . . . . . . . . . . . $430,277 $477,253 $469,946 $466,675 $486,022 $480,304
Ratio of Earnings to Fixed Charges. . . . . . . . 2.95 3.40 3.42 3.28 3.43 3.29
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