| Exhibit 12.1 | |||||||||||||||||
| THE SOUTHERN COMPANY | |||||||||||||||||
| Computation of ratio of earnings to fixed charges for | |||||||||||||||||
| the five years ended December 31, 2012 | |||||||||||||||||
| and the year to date June 30, 2013 | |||||||||||||||||
| Year ended December 31, | Six Months Ended June 30, | ||||||||||||||||||||||
| 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | ||||||||||||||||||
| --------------------------------------------Millions of Dollars-------------------------------------------- | |||||||||||||||||||||||
| EARNINGS AS DEFINED IN ITEM 503 OF REGULATION S-K: | |||||||||||||||||||||||
| Earnings Before Income Taxes | $ | 2,711 | $ | 2,604 | $ | 3,066 | $ | 3,487 | $ | 3,748 | $ | 599 | |||||||||||
| Interest expense, net of amounts capitalized | 869 | 907 | 898 | 858 | 861 | 426 | |||||||||||||||||
| Interest component of rental expense | 88 | 94 | 112 | 117 | 98 | 47 | |||||||||||||||||
| Amortization of capitalized interest | 2 | 3 | 3 | 3 | 5 | 2 | |||||||||||||||||
| AFUDC - Debt funds | 64 | 82 | 74 | 58 | 62 | 36 | |||||||||||||||||
| Less: Dividends on preferred and preference stock of subsidiaries | (65 | ) | (65 | ) | (65 | ) | (65 | ) | (65 | ) | (33 | ) | |||||||||||
| Earnings as defined | $ | 3,669 | $ | 3,625 | $ | 4,088 | $ | 4,458 | $ | 4,709 | $ | 1,077 | |||||||||||
| FIXED CHARGES AS DEFINED IN ITEM 503 OF REGULATION S-K: | |||||||||||||||||||||||
| Interest on long-term debt | $ | 813 | $ | 876 | $ | 885 | $ | 872 | $ | 857 | $ | 411 | |||||||||||
| Interest on affiliated loans | 23 | 22 | 19 | 16 | 8 | 4 | |||||||||||||||||
| Interest on interim obligations | 30 | 4 | 2 | 3 | 4 | 2 | |||||||||||||||||
| Amortization of debt discount, premium and expense, net | 40 | 40 | 42 | 40 | 40 | 24 | |||||||||||||||||
| Other interest charges | 27 | 46 | 24 | (15 | ) | 14 | 21 | ||||||||||||||||
| Capitalized interest | 7 | 2 | 12 | 20 | 20 | 1 | |||||||||||||||||
| Interest component of rental expense | 87 | 94 | 112 | 117 | 98 | 47 | |||||||||||||||||
| Fixed charges as defined | 1,027 | 1,084 | 1,096 | 1,053 | 1,041 | 510 | |||||||||||||||||
| Tax deductible preferred dividends | 1 | 1 | 1 | 1 | 1 | 1 | |||||||||||||||||
| 1,028 | 1,085 | 1,097 | 1,054 | 1,042 | 511 | ||||||||||||||||||
| Non-tax deductible preferred and preference dividends | 64 | 64 | 64 | 64 | 64 | 32 | |||||||||||||||||
| Ratio of net income before taxes to net income | x | 1.507 | x | 1.525 | x | 1.503 | x | 1.538 | x | 1.552 | x | 1.459 | |||||||||||
| Preferred and preference dividend requirements before income taxes | 96 | 98 | 96 | 98 | 99 | 46 | |||||||||||||||||
| Fixed charges plus preferred and preference dividend requirements | $ | 1,124 | $ | 1,183 | $ | 1,193 | $ | 1,152 | $ | 1,141 | $ | 557 | |||||||||||
| RATIO OF EARNINGS TO FIXED CHARGES | 3.26 | 3.06 | 3.43 | 3.87 | 4.13 | 1.93 | |||||||||||||||||
