EX-12 5 exhibit_12.htm EXHIBIT 12 exhibit_12.htm
 
 
 

AGL Resources Inc.
Statement Setting Forth Ratio of Earnings to Fixed Charges


Dollars in millions
  
Fiscal 2011
    
Fiscal 2010
    
Fiscal 2009
    
Fiscal 2008
    
Fiscal 2007
  
Earnings before income taxes
   $ 311     $ 390     $ 384     $ 369     $ 368  
Add:
                                        
  Fixed charges (see “B” below)
     145       123       115       127       134  
  Amortization of capitalized interest
     1       -       -       -       -  
Less:
                                        
Interest capitalized
     (1 )     (5 )     (3 )     (2 )     -  
Noncontrolling interest in pre-tax income of subsidiaries that have not incurred fixed charges
     (14 )     (16 )     (27 )     (20 )     (30 )
Adjusted Earnings (A)
   $ 442     $ 492     $ 469     $ 474     $ 472  
                                         
Fixed charges
                                        
Interest on long-term debt
   $ 101     $ 109     $ 98     $ 96     $ 97  
Other interest, including amortized premiums, discounts and capitalized expenses related to indebtedness liability
     37       7       10       24       30  
Estimated interest components of rentals
     7       7       7       7       7  
     Total fixed charges (B)
   $ 145     $ 123     $ 115     $ 127     $ 134  
                                         
Ratio of earnings to fixed charges (A)/(B)
     3.05       4.00       4.08       3.73       3.52