Exhibit 12.1 |
GEORGIA POWER COMPANY |
Computation of ratio of earnings to fixed charges for |
the five years ended December 31, 2011 |
and the year to date September 30, 2012 |
Nine | ||||||||||||||||||
Months | ||||||||||||||||||
Ended | ||||||||||||||||||
Year ended December 31, | September 30, | |||||||||||||||||
2007 | 2008 | 2009 | 2010 | 2011 | 2012 | |||||||||||||
------------------------------Thousands of Dollars------------------------------ | ||||||||||||||||||
EARNINGS AS DEFINED IN ITEM 503 OF REGULATION S-K: | ||||||||||||||||||
Earnings Before Income Taxes | $ | 1,253,532 | $ | 1,401,995 | $ | 1,236,111 | $ | 1,414,245 | $ | 1,781,406 | $ | 1,554,230 | ||||||
Distributed income of equity investees | 2,622 | 4,278 | 363 | 2,849 | 13,830 | 5,866 | ||||||||||||
Interest expense, net of amounts capitalized | 343,461 | 345,415 | 385,889 | 375,336 | 342,935 | 276,411 | ||||||||||||
Interest component of rental expense | 10,416 | 17,309 | 21,523 | 42,467 | 59,943 | 46,392 | ||||||||||||
Amortization of capitalized interest | 41 | 40 | 41 | 40 | 40 | 30 | ||||||||||||
Distributions on mandatorily redeemable preferred securities | 0 | 0 | 0 | 0 | 0 | 0 | ||||||||||||
AFUDC - Debt funds | 28,440 | 39,573 | 39,719 | 54,253 | 36,952 | 16,708 | ||||||||||||
Earnings as defined | $ | 1,638,512 | $ | 1,808,610 | $ | 1,683,646 | $ | 1,889,190 | $ | 2,235,106 | $ | 1,899,637 | ||||||
FIXED CHARGES AS DEFINED IN ITEM 503 OF REGULATION S-K: | ||||||||||||||||||
Interest on long-term debt | $ | 268,772 | $ | 324,117 | $ | 371,341 | $ | 377,011 | $ | 362,030 | $ | 276,461 | ||||||
Interest on affiliated loans | 65,413 | 22,295 | 13,045 | 12,526 | 9,340 | 174 | ||||||||||||
Interest on interim obligations | 8,463 | 3,114 | 538 | 0 | 0 | 1,359 | ||||||||||||
Amort of debt disc, premium and expense, net | 18,344 | 19,906 | 20,241 | 21,492 | 22,497 | 17,321 | ||||||||||||
Other interest charges | 11,137 | 15,790 | 20,573 | 18,657 | (13,834) | (2,124) | ||||||||||||
Interest component of rental expense | 10,416 | 17,309 | 21,523 | 42,467 | 59,943 | 46,392 | ||||||||||||
Distributions on mandatorily redeemable preferred securities | 0 | 0 | 0 | 0 | 0 | 0 | ||||||||||||
Fixed charges as defined | $ | 382,545 | $ | 402,531 | $ | 447,261 | $ | 472,153 | $ | 439,976 | $ | 339,583 | ||||||
RATIO OF EARNINGS TO FIXED CHARGES | 4.28 | 4.49 | 3.76 | 4.00 | 5.08 | 5.59 | ||||||||||||