EXHIBIT 12
APPALACHIAN POWER COMPANY AND SUBSIDIARIES
Computation of Consolidated Ratios of Earnings to Fixed Charges
(in thousands except ratio data)
Twelve | Nine | |||||||||||||||||||||
Months | Months | |||||||||||||||||||||
Year Ended December 31, | Ended | Ended | ||||||||||||||||||||
2004 | 2005 | 2006 | 2007 | 2008 | 9/30/2009 | 9/30/2009 | ||||||||||||||||
EARNINGS | ||||||||||||||||||||||
Income Before Income Taxes | $ | 238,226 | $ | 202,021 | $ | 282,865 | $ | 195,613 | $ | 166,801 | $ | 191,855 | $ | 193,172 | ||||||||
Fixed Charges (as below) | 110,735 | 118,365 | 151,874 | 178,067 | 225,573 | 238,738 | 163,312 | |||||||||||||||
Total Earnings | $ | 348,961 | $ | 320,386 | $ | 434,739 | $ | 373,680 | $ | 392,374 | $ | 430,593 | $ | 356,484 | ||||||||
FIXED CHARGES | ||||||||||||||||||||||
Interest Expense | $ | 99,135 | $ | 106,301 | $ | 129,106 | $ | 165,405 | $ | 209,733 | $ | 224,233 | $ | 153,144 | ||||||||
Credit for Allowance for Borrowed Funds Used During Construction | 8,100 | 8,764 | 17,668 | 6,962 | 9,040 | 7,705 | 5,068 | |||||||||||||||
Estimated Interest Element in Lease Rentals | 3,500 | 3,300 | 5,100 | 5,700 | 6,800 | 6,800 | 5,100 | |||||||||||||||
Total Fixed Charges | $ | 110,735 | $ | 118,365 | $ | 151,874 | $ | 178,067 | $ | 225,573 | $ | 238,738 | $ | 163,312 | ||||||||
Ratio of Earnings to Fixed Charges | 3.15 | 2.70 | 2.86 | 2.09 | 1.73 | 1.80 | 2.18 |