EX-12.01 6 a2014oge10-kxex1201.htm EXHIBIT 12.01
Exhibit 12.01
OGE Energy Corp.
Ratio of Earnings to Fixed Charges

Year ended December 31 (In millions) | 2014 | 2013 | 2012 | 2011 | 2010
Earnings: |  |  |  |  |
Pre-tax income (A) | $ | 396.0 |  | $ | 422.2 |  | $ | 520.1 |  | $ | 524.3 |  | $ | 461.4 |
Add: Fixed charges | 153.9 |  | 157.2 |  | 174.4 |  | 161.8 |  | 150.1 |
Distributions received from equity method investment | 143.7 |  | 51.7 |  | — |  | — |  | — |
Subtotal | 693.6 |  | 631.1 |  | 694.5 |  | 686.1 |  | 611.5 |
Subtract: |  |  |  |  |
Allowance for borrowed funds used during construction | 2.4 |  | 3.4 |  | 3.5 |  | 10.4 |  | 5.5 |
Other capitalized interest | — |  | 2.0 |  | 4.5 |  | 8.7 |  | 2.5 |
Total earnings | 691.2 |  | 625.7 |  | 686.5 |  | 667.0 |  | 603.5 |
Fixed Charges: |  |  |  |  |
Interest on long-term debt | 144.6 |  | 147.6 |  | 163.4 |  | 154.8 |  | 141.8 |
Interest on short-term debt and other interest charges | 6.2 |  | 5.3 |  | 8.7 |  | 5.2 |  | 5.9 |
Calculated interest on leased property | 3.1 |  | 4.3 |  | 2.3 |  | 1.8 |  | 2.4 |
Total fixed charges | $ | 153.9 |  | $ | 157.2 |  | $ | 174.4 |  | $ | 161.8 |  | $ | 150.1 |
Ratio of Earnings to Fixed Charges | 4.49 |  | 3.98 |  | 3.94 |  | 4.12 |  | 4.02 |

(A)Excludes amounts attributable to income or loss from equity method investment.