Exhibit 12.1 | ||||||||||||||||||
ALABAMA POWER COMPANY | ||||||||||||||||||
Computation of ratio of earnings to fixed charges for | ||||||||||||||||||
the five years ended December 31, 2011 | ||||||||||||||||||
and the year to date June 30, 2012 | ||||||||||||||||||
Six | ||||||||||||||||||
Months | ||||||||||||||||||
Ended | ||||||||||||||||||
Year Ended December 31, | June 30, | |||||||||||||||||
2007 | 2008 | 2009 | 2010 | 2011 | 2012 | |||||||||||||
Thousands of Dollars | ||||||||||||||||||
EARNINGS AS DEFINED IN ITEM 503 OF REGULATION S-K: | ||||||||||||||||||
Earnings Before Income Taxes | $ | 961,653 | $ | 1,017,634 | $ | 1,088,238 | $ | 1,203,742 | $ | 1,219,603 | $ | 537,575 | ||||||
Distributed income of equity investees | 1,321 | 3,915 | — | 2,486 | 7,371 | 3,673 | ||||||||||||
Interest expense, net of amounts capitalized | 273,737 | 278,917 | 298,495 | 303,165 | 298,934 | 145,532 | ||||||||||||
Interest component of rental expense | 45,982 | 43,572 | 39,442 | 23,094 | 18,573 | 7,936 | ||||||||||||
AFUDC - Debt funds | 17,961 | 20,215 | 33,112 | 13,992 | 8,751 | 3,126 | ||||||||||||
Earnings as defined | $ | 1,300,654 | $ | 1,364,253 | $ | 1,459,287 | $ | 1,546,479 | $ | 1,553,232 | $ | 697,842 | ||||||
FIXED CHARGES AS DEFINED IN ITEM 503 OF REGULATION S-K: | ||||||||||||||||||
Interest on long-term debt | $ | 248,854 | $ | 262,963 | $ | 287,066 | $ | 287,075 | $ | 279,880 | $ | 136,289 | ||||||
Interest on affiliated loans | 15,013 | 11,340 | 10,291 | 7,196 | 7,119 | 3,776 | ||||||||||||
Interest on interim obligations | 1,915 | 1,070 | 69 | 15 | 44 | 9 | ||||||||||||
Amort of debt disc, premium and expense, net | 14,454 | 11,688 | 11,050 | 10,368 | 9,437 | 4,837 | ||||||||||||
Other interest charges | 11,462 | 12,071 | 23,131 | 12,503 | 11,205 | 3,747 | ||||||||||||
Interest component of rental expense | 45,982 | 43,572 | 39,442 | 23,094 | 18,573 | 7,936 | ||||||||||||
Fixed charges as defined | $ | 337,680 | $ | 342,704 | $ | 371,049 | $ | 340,251 | $ | 326,258 | $ | 156,594 | ||||||
RATIO OF EARNINGS TO FIXED CHARGES | 3.85 | 3.98 | 3.93 | 4.55 | 4.76 | 4.46 |
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Filed: 16 Oct 12, 12:00am