RURAL ELECTRIC COOPERATIVE GRANTOR TRUST KEPCO SERIES 1997 - FORM 10-K - EX-12 - COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES - March 7, 2011

Attached files

file filename
EX-99 - OTHER SELECT FINANCIAL INFORMATION JPMC - RURAL ELECTRIC COOPERATIVE GRANTOR TRUST KEPCO SERIES 1997exhibit99.htm
EX-31.1 - CERTIFICATION PURSUANT TO SECTION 302 - PETERSEN - RURAL ELECTRIC COOPERATIVE GRANTOR TRUST KEPCO SERIES 1997exhibit31_1.htm
EX-32.1 - CERTIFICATION PURSUANT TO SECTION 906 - PETERSEN - RURAL ELECTRIC COOPERATIVE GRANTOR TRUST KEPCO SERIES 1997exhibit32_1.htm
EX-32.2 - CERTIFICATION PURSUANT TO SECTION 906 - LILLY - RURAL ELECTRIC COOPERATIVE GRANTOR TRUST KEPCO SERIES 1997exhibit32_2.htm
10-K - DECEMBER 2010, KEPCO 10-K - RURAL ELECTRIC COOPERATIVE GRANTOR TRUST KEPCO SERIES 1997dec2010_kepco10k.htm
EX-31.2 - CERTIFICATION PURSUANT TO SECTION 302 - LILLY - RURAL ELECTRIC COOPERATIVE GRANTOR TRUST KEPCO SERIES 1997exhibit31_2.htm
EXHIBIT 12

RURAL ELECTRIC COOPERATIVE GRANTOR TRUST (KEPCO) SERIES 1997
Computation of Ratio of Earnings to Fixed Charges
 
 
   
Year Ended December 31,
  
   
2010
    
2009
    
2008
    
2007
    
2006
  
Net income (loss)
$
508,387
  
$
3,354,453
  
$
(3,174,818
)
$
(582,686
)
$
1,778,458
  
     Add: Fixed charges
  
325,119
    
692,179
    
1,580,794
    
2,299,941
    
2,310,806
  
                               
Income (loss) available for fixed
                              
     charges
$
833,506
  
$
4,046,632
  
$
(1,594,024
)
$
1,717,255
  
$
4,089,264
  
                               
Fixed charges:
                              
     Interest on all debt
$
325,119
  
$
692,179
  
$
1,580,794
  
$
2,299,941
  
$
2,310,806
  
                               
Total fixed charges
$
325,119
  
$
692,179
  
$
1,580,794
  
$
2,299,941
  
$
2,310,806
  
                               
Ratio of income (loss) to
                              
     fixed charges
  
2.56
    
5.85
    
-
    
-
    
1.77
  
                               
                               
Deficiency
$
-
  
$
-
  
$
(3,174,818
)
$
(582,686
)
$
-
  

For the years ended December 31, 2008 and 2007, earnings were insufficient to cover fixed charges by  $3.2 million and $0.6 million, respectively.