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EXHIBIT 12.01
Oklahoma Gas and Electric Company
S E C Method
Ratio of Earnings to Fixed Charges
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Year Ended Year Ended Year Ended Year Ended Year Ended Year Ended
June 30, 2000 Dec 31, 1999 Dec 31, 1998 Dec 31, 1997 Dec 31, 1996 Dec 31, 1995
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Earnings:
Net Income $121,457,000 $139,041,000 $160,338,000 $120,994,000 $116,869,000 $112,544,000
Plus Income Taxes:
Federal Income Taxes 74,733,000 86,749,000 73,963,000 51,214,000 65,954,000 61,996,000
State Income Taxes 13,844,000 15,016,000 12,564,000 9,330,000 7,217,000 10,804,000
Federal Deferred Taxes (7,064,000) (10,270,000) 21,604,000 14,022,000 (2,076,000) (2,225,000)
State Deferred Taxes (947,000) (1,525,000) 2,593,000 1,905,000 4,232,000 (110,000)
Invest Tax Credit (5,150,000) (5,150,000) (5,150,000) (5,150,000) (5,150,000) (5,150,000)
Taxes (below the line) (461,000) 146,000 1,009,000 1,403,000 (515,000) 1,436,000
Plus Fixed Charges 47,594,000 46,842,000 50,282,000 57,043,000 60,972,000 72,434,000
Total Earnings $244,006,000 $270,849,000 $317,203,000 $250,761,000 $247,503,000 $251,729,000
Fixed Charges:
Long-term debt interest 45,438,000 44,813,000 44,515,000 53,281,000 54,141,000 63,970,000
Amort. Disc & Exp
Amort. of Prem
Other interest expense 1,972,000 1,845,000 5,426,000 3,265,000 6,134,000 7,999,000
Calculated int on
leased property 184,000 184,000 341,000 497,000 697,000 465,000
Total Fixed Charges $47,594,000 $46,842,000 $50,282,000 $57,043,000 $60,972,000 $72,434,000
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Ratio of Earnings to Fixed Charges 5.13 5.78 6.31 4.40 4.06 3.48
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