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| Exhibit 12.1 |
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| 11/5/2008 |
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MISSISSIPPI POWER COMPANY | ||||||||||||||||||
Computation of ratio of earnings to fixed charges for | ||||||||||||||||||
the five years ended December 31, 2007 | ||||||||||||||||||
and the year to date September 30, 2008 | ||||||||||||||||||
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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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| 2003 |
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| 2004 |
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| 2005 |
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| 2006 |
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| 2007 |
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| 2008 |
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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 | $ | 120,827 |
| $ | 131,299 |
| $ | 121,915 |
| $ | 131,840 |
| $ | 137,594 |
| $ | 120,525 |
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Interest expense, net of amounts capitalized |
| 14,369 |
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| 13,724 |
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| 13,828 |
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| 18,639 |
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| 18,158 |
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| 13,336 |
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Distributions on mandatorily redeemable preferred securities | 2,520 |
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| 630 |
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| 0 |
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| 0 |
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| 0 |
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| 0 |
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AFUDC - Debt funds |
| 0 |
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| 0 |
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| 0 |
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| 0 |
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| 12 |
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| 113 |
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Earnings as defined | $ | 137,716 |
| $ | 145,653 |
| $ | 135,743 |
| $ | 150,479 |
| $ | 155,764 |
| $ | 133,974 |
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FIXED CHARGES AS DEFINED IN ITEM 503 OF REGULATION S-K: |
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Interest on long-term debt | $ | 10,116 |
| $ | 9,067 |
| $ | 10,490 |
| $ | 11,808 |
| $ | 12,441 |
| $ | 11,384 |
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Interest on affiliated loans |
| 55 |
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| 2,218 |
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| 3,284 |
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| 3,882 |
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| 4,095 |
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| 579 |
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Interest on interim obligations |
| 0 |
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| 0 |
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| 437 |
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| 1,425 |
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| 0 |
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| 0 |
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Amort of debt disc, premium and expense, net |
| 1,178 |
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| 1,080 |
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| 1,111 |
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| 1,060 |
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| 1,055 |
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| 893 |
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Other interest charges |
| 3,020 |
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| 1,359 |
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| (1,494) |
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| 464 |
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| 579 |
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| 593 |
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Distributions on mandatorily redeemable preferred securities | 2,520 |
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| 630 |
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| 0 |
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| 0 |
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| 0 |
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| 0 |
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Fixed charges as defined | $ | 16,889 |
| $ | 14,354 |
| $ | 13,828 |
| $ | 18,639 |
| $ | 18,170 |
| $ | 13,449 |
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RATIO OF EARNINGS TO FIXED CHARGES |
| 8.15 |
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| 10.15 |
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| 9.82 |
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| 8.07 |
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| 8.57 |
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| 9.96 |
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