Exhibit 12(d)
Mississippi Power and Light Company
Computation of Ratios of Earnings to Fixed Charges and
Ratios of Earnings to Combined Fixed Charges and Preferred Dividends
1991 1992 1993 1994 1995
Fixed charges, as defined:
Interest on long-term debt $63,628 $60,709 $52,099 $46,081 $46,241
Interest on notes payable 953 36 7 1,348 474
Other interest charges 1,444 1,636 1,795 3,581 4,164
Amortization of expense and premium on debt-net(cr) 1,617 1,685 1,458 1,754 756
Interest applicable to rentals 574 521 1,264 1,716 2,173
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Total fixed charges, as defined 68,216 64,587 56,623 54,480 53,808
Preferred dividends, as defined (a) 14,962 12,823 12,990 9,447 9,004
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Combined fixed charges and preferred dividends, as defined $83,178 $77,410 $69,613 $63,927 $62,812
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Earnings as defined:
Net Income $63,088 $65,036 $101,743 $48,779 $68,667
Add:
Provision for income taxes:
Federal and State (1,001) 4,463 54,418 46,884 71,651
Deferred Federal and State - net 32,491 20,430 539 (26,763) (35,224)
Investment tax credit adjustment - net (1,634) (1,746) 1,036 (7,645) (1,550)
Fixed charges as above 68,216 64,587 56,623 54,480 53,808
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Total earnings, as defined $161,160 $152,770 $214,359 $115,735 $157,352
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Ratio of earnings to fixed charges, as defined 2.36 2.37 3.79 2.12 2.92
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Ratio of earnings to combined fixed charges and
preferred dividends, as defined 1.94 1.97 3.08 1.81 2.51
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(a) "Preferred dividends," as defined by SEC regulation S-K, are computed by
dividing the preferred dividend requirement by one hundred percent
(100%) minus the income tax rate.