|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Exhibit 12.2 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 11/27/2006 |
|
ALABAMA POWER COMPANY | ||||||||||||||||||
Computation of ratio of earnings to fixed charges plus preferred | ||||||||||||||||||
dividend requirements for the five years ended December 31, 2005 | ||||||||||||||||||
and the year to date September 30, 2006 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Nine |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Months |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Ended |
|
| Year ended December 31, |
|
| September 30, |
| |||||||||||||
|
| 2001 |
|
| 2002 |
|
| 2003 |
|
| 2004 |
|
| 2005 |
|
| 2006 |
|
| --------------------------------------------------Thousands of Dollars-------------------------------------------------- | |||||||||||||||||
EARNINGS AS DEFINED IN ITEM 503 OF REGULATION S-K: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||
Earnings before income taxes |
| $652,467 |
|
| $770,194 |
|
| $782,220 |
|
| $819,955 |
|
| $819,515 |
|
| $738,625 |
|
Interest expense, net of amounts capitalized |
| 247,789 |
|
| 226,732 |
|
| 215,858 |
|
| 211,373 |
|
| 215,431 |
|
| 187,712 |
|
Distributions on mandatorily redeemable preferred securities | 24,775 |
|
| 24,599 |
|
| 15,255 |
|
| 0 |
|
| 0 |
|
| 0 |
| |
AFUDC - Debt funds |
| 9,569 |
|
| 6,854 |
|
| 6,421 |
|
| 6,856 |
|
| 8,173 |
|
| 5,656 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Earnings as defined |
| $934,600 |
|
| $1,028,379 |
|
| $1,019,754 |
|
| $1,038,184 |
|
| $1,043,119 |
|
| $931,993 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
FIXED CHARGES AS DEFINED IN ITEM 503 OF REGULATION S-K: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||
Interest on long-term debt |
| $220,627 |
|
| $208,148 |
|
| $183,953 |
|
| $173,226 |
|
| $186,542 |
|
| $171,098 |
|
Interest on affiliated loans |
| 1,082 |
|
| 845 |
|
| 274 |
|
| 16,479 |
|
| 16,563 |
|
| 12,644 |
|
Interest on interim obligations |
| 13,556 |
|
| 1,160 |
|
| 388 |
|
| 465 |
|
| 1,063 |
|
| 1,158 |
|
Amort of debt disc, premium and expense, net |
| 11,740 |
|
| 12,857 |
|
| 15,671 |
|
| 14,793 |
|
| 14,559 |
|
| 9,809 |
|
Other interest charges |
| 10,352 |
|
| 10,577 |
|
| 21,993 |
|
| 13,266 |
|
| 4,877 |
|
| (1,341) |
|
Distributions on mandatorily redeemable preferred securities | 24,775 |
|
| 24,599 |
|
| 15,255 |
|
| 0 |
|
| 0 |
|
| 0 |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Fixed charges as defined |
| 282,132 |
|
| 258,186 |
|
| 237,534 |
|
| 218,229 |
|
| 223,604 |
|
| 193,368 |
|
Tax deductible preferred dividends |
| 1,089 |
|
| 1,089 |
|
| 1,089 |
|
| 1,089 |
|
| 1,089 |
|
| 817 |
|
|
| 283,221 |
|
| 259,275 |
|
| 238,623 |
|
| 219,318 |
|
| 224,693 |
|
| 194,185 |
|
Non-tax deductible preferred dividends |
| 14,435 |
|
| 13,350 |
|
| 17,178 |
|
| 22,508 |
|
| 23,200 |
|
| 17,399 |
|
Ratio of net income before taxes to net income |
| x1.623 |
|
| x1.619 |
|
| x1.593 |
|
| x1.624 |
|
| x1.540 |
|
| x1.618 |
|
Pref dividend requirements before income taxes |
| 23,428 |
|
| 21,614 |
|
| 27,365 |
|
| 36,553 |
|
| 35,728 |
|
| 28,152 |
|
Fixed charges plus pref dividend requirements |
| $306,649 |
|
| $280,889 |
|
| $265,988 |
|
| $255,871 |
|
| $260,421 |
|
| $222,337 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
RATIO OF EARNINGS TO FIXED CHARGES PLUS |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
PREFERRED DIVIDEND REQUIREMENTS |
| 3.05 |
|
| 3.66 |
|
| 3.83 |
|
| 4.06 |
|
| 4.01 |
|
| 4.19 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|