Exhibit 12
AGL Resources Inc.
Statement Setting Forth Ratio of Earnings to Fixed Charges
Nine months ended | Fiscal | Fiscal | Fiscal | Fiscal | Fiscal | |||||||||||||||||||
Dollars in millions | September 30, 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | ||||||||||||||||||
Earnings before income taxes | $ | 289 | $ | 311 | $ | 390 | $ | 384 | $ | 369 | $ | 368 | ||||||||||||
Add: | ||||||||||||||||||||||||
Fixed charges (see “B” below) | 152 | 145 | 123 | 115 | 127 | 134 | ||||||||||||||||||
Amortization of capitalized interest | - | 1 | - | - | - | - | ||||||||||||||||||
Distributed income of equity investees | 10 | - | - | - | - | - | ||||||||||||||||||
Less: | ||||||||||||||||||||||||
Interest capitalized | (1 | ) | (1 | ) | (5 | ) | (3 | ) | (2 | ) | - | |||||||||||||
Noncontrolling interest in pre-tax income of subsidiaries that have not incurred fixed charges | (10 | ) | (14 | ) | (16 | ) | (27 | ) | (20 | ) | (30 | ) | ||||||||||||
Adjusted Earnings (A) | $ | 440 | $ | 442 | $ | 492 | $ | 469 | $ | 474 | $ | 472 | ||||||||||||
Fixed charges | ||||||||||||||||||||||||
Interest on long-term debt | $ | 132 | $ | 101 | $ | 109 | $ | 98 | $ | 96 | $ | 97 | ||||||||||||
Other interest, including amortized premiums, discounts and capitalized expenses related to indebtedness liability | 10 | 37 | 7 | 10 | 24 | 30 | ||||||||||||||||||
Estimated interest components of rentals | 10 | 7 | 7 | 7 | 7 | 7 | ||||||||||||||||||
Total fixed charges (B) | $ | 152 | $ | 145 | $ | 123 | $ | 115 | $ | 127 | $ | 134 | ||||||||||||
Ratio of earnings to fixed charges (A)/(B) | 2.89 | 3.05 | 4.00 | 4.08 | 3.73 | 3.52 |