EX-12 3 exhibit-12.htm EXHIBIT 12 exhibit-12.htm
 
Exhibit 12
 
AGL Resources Inc.
Statement Setting Forth Ratio of Earnings to Fixed Charges


Dollars in millions
  
Six months ended June 30, 2011
    
Fiscal 2010
    
Fiscal 2009
    
Fiscal 2008
    
Fiscal 2007
    
Fiscal 2006
  
Earnings before income taxes
   $ 240     $ 390     $ 384     $ 369     $ 368     $ 364  
Add:
                                                
  Fixed charges (see “B” below)
     66       123       115       127       134       133  
Less:
                                                
Interest capitalized
     (1 )     (5 )     (3 )     (2 )     -       (1 )
Noncontrolling interest in pre-tax income of subsidiaries that have not incurred fixed charges
     (11 )     (16 )     (27 )     (20 )     (30 )     (23 )
Adjusted Earnings (A)
   $ 294     $ 492     $ 469     $ 474     $ 472     $ 473  
                                                 
Fixed charges
                                                
Interest on long-term debt
   $ 49     $ 109     $ 98     $ 96     $ 97     $ 99  
Other interest, including amortized premiums, discounts and capitalized expenses related to indebtedness liability
     14       7       10       24       30       27  
Estimated interest components of rentals
     3       7       7       7       7       7  
     Total fixed charges (B)
   $ 66     $ 123     $ 115     $ 127     $ 134     $ 133  
                                                 
Ratio of earnings to fixed charges (A)/(B)
     4.45       4.00       4.08       3.73       3.52       3.56