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| Exhibit 12.1 |
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| 11/27/2006 |
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ALABAMA POWER COMPANY | ||||||||||||||||||
Computation of ratio of earnings to fixed charges for | ||||||||||||||||||
the five years ended December 31, 2005 | ||||||||||||||||||
and the year to date September 30, 2006 | ||||||||||||||||||
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| Nine |
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| Months |
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| Ended |
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| Year ended December 31, |
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| September 30, |
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| 2001 |
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| 2002 |
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| 2003 |
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| 2004 |
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| 2005 |
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| 2006 |
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| --------------------------------------------------Thousands of Dollars-------------------------------------------------- | |||||||||||||||||
EARNINGS AS DEFINED IN ITEM 503 OF REGULATION S-K: |
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Earnings before income taxes |
| $652,467 |
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| $770,194 |
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| $782,220 |
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| $819,955 |
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| $819,515 |
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| $738,625 |
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Interest expense, net of amounts capitalized |
| 247,789 |
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| 226,732 |
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| 215,858 |
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| 211,373 |
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| 215,431 |
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| 187,712 |
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Distributions on mandatorily redeemable preferred securities | 24,775 |
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| 24,599 |
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| 15,255 |
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| 0 |
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| 0 |
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| 0 |
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AFUDC - Debt funds |
| 9,569 |
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| 6,854 |
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| 6,421 |
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| 6,856 |
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| 8,173 |
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| 5,656 |
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Earnings as defined |
| $934,600 |
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| $1,028,379 |
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| $1,019,754 |
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| $1,038,184 |
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| $1,043,119 |
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| $931,993 |
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FIXED CHARGES AS DEFINED IN ITEM 503 OF REGULATION S-K: |
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Interest on long-term debt |
| $220,627 |
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| $208,148 |
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| $183,953 |
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| $173,226 |
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| $186,542 |
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| $171,098 |
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Interest on affiliated loans |
| 1,082 |
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| 845 |
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| 274 |
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| 16,479 |
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| 16,563 |
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| 12,644 |
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Interest on interim obligations |
| 13,556 |
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| 1,160 |
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| 388 |
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| 465 |
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| 1,063 |
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| 1,158 |
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Amort of debt disc, premium and expense, net |
| 11,740 |
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| 12,857 |
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| 15,671 |
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| 14,793 |
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| 14,559 |
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| 9,809 |
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Other interest charges |
| 10,352 |
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| 10,577 |
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| 21,993 |
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| 13,266 |
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| 4,877 |
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| (1,341) |
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Distributions on mandatorily redeemable preferred securities | 24,775 |
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| 24,599 |
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| 15,255 |
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| 0 |
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| 0 |
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| 0 |
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Fixed charges as defined |
| $282,132 |
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| $258,186 |
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| $ 237,534 |
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| $ 218,229 |
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| $ 223,604 |
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| $193,368 |
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RATIO OF EARNINGS TO FIXED CHARGES |
| 3.31 |
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| 3.98 |
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| 4.29 |
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| 4.76 |
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| 4.67 |
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| 4.82 |
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