RURAL ELECTRIC COOPERATIVE GRANTOR TRUST KEPCO SERIES 1997 - FORM 10-K - EX-12 - EXHIBIT 12 - March 10, 2014

Attached files

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10-K - ANNUAL REPORT - RURAL ELECTRIC COOPERATIVE GRANTOR TRUST KEPCO SERIES 1997v370966_10k.htm
EX-99 - EXHIBIT 99 - RURAL ELECTRIC COOPERATIVE GRANTOR TRUST KEPCO SERIES 1997v370966_ex99.htm
EX-32.1 - EXHIBIT 32.1 - RURAL ELECTRIC COOPERATIVE GRANTOR TRUST KEPCO SERIES 1997v370966_ex32-1.htm
EX-32.2 - EXHIBIT 32.2 - RURAL ELECTRIC COOPERATIVE GRANTOR TRUST KEPCO SERIES 1997v370966_ex32-2.htm
EX-31.1 - EXHIBIT 31.1 - RURAL ELECTRIC COOPERATIVE GRANTOR TRUST KEPCO SERIES 1997v370966_ex31-1.htm
EX-31.2 - EXHIBIT 31.2 - RURAL ELECTRIC COOPERATIVE GRANTOR TRUST KEPCO SERIES 1997v370966_ex31-2.htm

 

EXHIBIT 12

 

RURAL ELECTRIC COOPERATIVE GRANTOR TRUST (KEPCO) SERIES 1997

 

Computation of Ratio of Earnings to Fixed Charges

 

   Year Ended December 31, 
   2013   2012   2011   2010   2009 
Earnings:                         
Net income  $1,855,558   $1,624,327   $1,025,713   $508,387   $3,354,453 
Add: Fixed charges   60,883    86,104    155,118    325,119    692,179 
Earnings available for fixed charges  $1,916,441   $1,710,431   $1,180,831   $833,506   $4,046,632 
                          
Fixed charges:                         
Interest expense on debt  $60,883   $86,104   $155,118   $325,119   $692,179 
Total fixed charges  $60,883   $86,104   $155,118   $325,119   $692,179 
                          
Ratio of earnings to fixed charges fixed charges   31.48    19.86    7.61    2.56    5.85