Exhibit 12.2
6/20/102
GEORGIA POWER COMPANY
Computation of ratio of earnings to fixed charges plus preferred
dividend requirements for the five years ended December 31, 2000
and the year to date March 31, 2002
Year ended December 31,
----------------------------------------------------------------------
1997 1998 1999
--------------------------------Thousands of Dollars--------------------
EARNINGS AS DEFINED IN ITEM 503 OF REGULATION S-K:
Earnings Before Interest and Income Taxes $ 1,277,565 $ 1,249,768 $ 1,158,999
AFUDC - Debt funds 9,030 7,117 12,429
-------------------- -------------------- -------------------
Earnings as defined $ 1,286,595 $ 1,256,885 $ 1,171,428
==================== ==================== ===================
FIXED CHARGES AS DEFINED IN ITEM 503 OF REGULATION S-K:
Interest on long-term debt $ 196,707 $ 182,879 $ 164,375
Interest on interim obligations 7,795 12,213 19,787
Amort of debt disc, premium and expense, net 14,191 13,378 15,127
Other interest charges 57,623 71,536 75,868
-------------------- -------------------- -------------------
Fixed charges as defined 276,316 280,006 275,157
Tax deductible preferred dividends 912 297 283
-------------------- -------------------- -------------------
277,228 280,303 275,440
-------------------- -------------------- -------------------
Non-tax deductible preferred dividends 18,015 5,642 1,446
Ratio of net income before taxes to net income x 1.648 x 1.695 x 1.650
-------------------- -------------------- -------------------
Pref dividend requirements before income taxes 29,689 9,563 2,386
-------------------- -------------------- -------------------
Fixed charges plus pref dividend requirements $ 306,917 $ 289,866 $ 277,826
==================== ==================== ===================
RATIO OF EARNINGS TO FIXED CHARGES PLUS
PREFERRED DIVIDEND REQUIREMENTS 4.19 4.34 4.22
Note: The above figures have been adjusted to give effect to Georgia Power Company's 50% ownership of Southern
Electric Generating Company.
Exhibit 12.2
6/20/102
GEORGIA POWER COMPANY
Computation of ratio of earnings to fixed charges plus preferred
dividend requirements for the five years ended December 31, 2000
and the year to date March 31, 2002
Three
Months
Ended
Year ended December 31, March 31,
----------------------------------------------------------------------
2000 2001 2002
-----------------Thousands of Dollars--------------------------------
EARNINGS AS DEFINED IN ITEM 503 OF REGULATION S-K:
Earnings Before Interest and Income Taxes $ 1,192,370 $ 1,220,654 $ 263,415
AFUDC - Debt funds 23,396 13,574 2,126
-------------------- -------------------- ------------------
Earnings as defined $ 1,215,766 $ 1,234,228 $ 265,541
==================== ==================== ==================
FIXED CHARGES AS DEFINED IN ITEM 503 OF REGULATION S-K:
Interest on long-term debt $ 171,994 $ 162,546 $ 33,541
Interest on interim obligations 28,262 25,082 3,798
Amort of debt disc, premium and expense, net 14,257 15,106 4,037
Other interest charges 79,396 55,175 16,382
-------------------- -------------------- ------------------
Fixed charges as defined 293,909 257,909 57,758
Tax deductible preferred dividends 270 268 67
-------------------- -------------------- ------------------
294,179 258,177 57,825
-------------------- -------------------- ------------------
Non-tax deductible preferred dividends 404 402 101
Ratio of net income before taxes to net income x 1.646 x 1.599 x 1.637
-------------------- -------------------- ------------------
Pref dividend requirements before income taxes 665 643 165
-------------------- -------------------- ------------------
Fixed charges plus pref dividend requirements $ 294,844 $ 258,820 $ 57,990
==================== ==================== ==================
RATIO OF EARNINGS TO FIXED CHARGES PLUS
PREFERRED DIVIDEND REQUIREMENTS 4.12 4.77 4.58
Note: The above figures have been adjusted to give effect to Georgia Power Company's 50% ownership of Southern
Electric Generating Company.