Exhibit 12.1 | |||||||||||||||||
MISSISSIPPI POWER COMPANY | |||||||||||||||||
Computation of ratio of earnings to fixed charges for | |||||||||||||||||
the five years ended December 31, 2017 | |||||||||||||||||
2013 | 2014 | 2015 | 2016 | 2017 | |||||||||||||||
---------------------------------------------Millions of Dollars--------------------------------------------- | |||||||||||||||||||
EARNINGS AS DEFINED IN ITEM 503 OF REGULATION S-K: | |||||||||||||||||||
Earnings Before Income Taxes | $ | (843 | ) | $ | (612 | ) | $ | (78 | ) | $ | (152 | ) | $ | (3,120 | ) | ||||
Interest expense, net of amounts capitalized | 37 | 45 | 7 | 74 | 42 | ||||||||||||||
Interest component of rental expense | 3 | 4 | 2 | 1 | 1 | ||||||||||||||
AFUDC - Debt funds | 49 | 44 | 44 | 44 | 24 | ||||||||||||||
Earnings as defined | $ | (754 | ) | $ | (519 | ) | $ | (25 | ) | $ | (33 | ) | $ | (3,053 | ) | ||||
FIXED CHARGES AS DEFINED IN ITEM 503 OF REGULATION S-K: | |||||||||||||||||||
Interest on long-term debt | $ | 67 | $ | 68 | $ | 67 | $ | 77 | $ | 78 | |||||||||
Interest on affiliated loans | — | 1 | 3 | 13 | 7 | ||||||||||||||
Interest on interim obligations | — | — | — | 1 | — | ||||||||||||||
Amortization of debt discount, premium and expense, net | 1 | 1 | 1 | 1 | 2 | ||||||||||||||
Other interest charges | 23 | 44 | 2 | 31 | (16 | ) | |||||||||||||
Interest component of rental expense | 3 | 4 | 2 | 1 | 1 | ||||||||||||||
Fixed charges as defined | $ | 94 | $ | 118 | $ | 75 | $ | 124 | $ | 72 | |||||||||
RATIO OF EARNINGS TO FIXED CHARGES(*) | N/A | N/A | N/A | N/A | N/A | ||||||||||||||
Deficiency of Earnings to Cover Fixed Charges | $ | 848 | $ | 637 | $ | 100 | $ | 157 | $ | 3,125 |
(*) | As a result of losses incurred on the Kemper County Integrated Coal Gasification Combined Cycle Project, earnings before income taxes were negative for the years 2013 through 2017. |