Exhibit 12.2
03/20/02
MISSISSIPPI POWER COMPANY
Computation of ratio of earnings to fixed charges plus preferred
dividend requirements for the five years ended December 31, 2001
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1997 1998 1999 2000 2001
----------------------------Thousands of Dollars---------------------------
EARNINGS AS DEFINED IN ITEM 503 OF REGULATION S-K:
Earnings Before Interest and Income Taxes $ 113,149 $ 118,232 $ 121,620 $ 122,270 $ 32,671
AFUDC - Debt funds 0 0 0 0 0
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Earnings as defined $ 113,149 $ 118,232 $ 121,620 $ 122,270 $ 32,671
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FIXED CHARGES AS DEFINED IN ITEM 503 OF REGULATION S-K:
Interest on long-term debt $ 19,856 $ 20,567 $ 20,455 $ 24,595 $ 18,187
Interest on interim obligations 96 943 2,750 2,450 2,520
Amort of debt disc, premium and expense, net 1,577 1,446 1,432 1,313 954
Other interest charges 2,943 3,502 6,044 2,455 4,619
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Fixed charges as defined 24,472 26,458 30,681 30,813 26,280
Tax deductible preferred dividends 261 261 239 239 239
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24,733 26,719 30,920 31,052 26,519
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Non-tax deductible preferred dividends 3,026 1,744 1,774 1,890 1,802
Ratio of net income before taxes to net income x 1.548 x 1.607 x 1.600 x 1.602 x 1.615
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Pref dividend requirements before income taxes 4,684 2,803 2,838 3,028 2,910
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Fixed charges plus pref dividend requirements $ 29,417 $ 29,522 $ 33,758 $ 34,080 $ 29,429
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RATIO OF EARNINGS TO FIXED CHARGES PLUS
PREFERRED DIVIDEND REQUIREMENTS 3.85 4.00 3.60 3.59 4.51