EX-12.01 4 a2017oge10-kxex1201.htm EXHIBIT 12.01
Exhibit 12.01
OGE Energy Corp.
Ratio of Earnings to Fixed Charges

Year Ended December 31 (In millions) | 2017 | 2016 | 2015 | 2014 | 2013
Earnings: |  |  |  |  |
Pre-tax income (A) | $ | 438.5 |  | $ | 384.5 |  | $ | 353.2 |  | $ | 396.0 |  | $ | 422.2 |
Add: Fixed charges | 164.0 |  | 152.0 |  | 156.3 |  | 153.9 |  | 157.2 |
Distributions received from equity method investment | 141.2 |  | 141.2 |  | 139.3 |  | 143.7 |  | 51.7 |
Subtotal | 743.7 |  | 677.7 |  | 648.8 |  | 693.6 |  | 631.1 |
Subtract: |  |  |  |  |
Allowance for borrowed funds used during construction | 18.0 |  | 7.5 |  | 4.2 |  | 2.4 |  | 3.4 |
Other capitalized interest | — |  | — |  | — |  | — |  | 2.0 |
Total earnings | 725.7 |  | 670.2 |  | 644.6 |  | 691.2 |  | 625.7 |
Fixed Charges: |  |  |  |  |
Interest on long-term debt | 153.6 |  | 143.2 |  | 147.8 |  | 144.6 |  | 147.6 |
Interest on short-term debt and other interest charges | 8.2 |  | 6.4 |  | 5.4 |  | 6.2 |  | 5.3 |
Calculated interest on leased property | 2.2 |  | 2.4 |  | 3.1 |  | 3.1 |  | 4.3 |
Total fixed charges | $ | 164.0 |  | $ | 152.0 |  | $ | 156.3 |  | $ | 153.9 |  | $ | 157.2 |
Ratio of Earnings to Fixed Charges | 4.42 |  | 4.41 |  | 4.12 |  | 4.49 |  | 3.98 |

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