EX-12 2 exhibit_12.htm EXHIBIT 12 exhibit_12.htm

Exhibit 12
 
 
 
AGL Resources Inc.
Statement Setting Forth Ratio of Earnings to Fixed Charges


   
Nine months ended
    
Fiscal
    
Fiscal
    
Fiscal
    
Fiscal
    
Fiscal
  
Dollars in millions
  
September 30, 2012
    
2011
    
2010
    
2009
    
2008
    
2007
  
Earnings before income taxes
   $ 289     $ 311     $ 390     $ 384     $ 369     $ 368  
Add:
                                                
   Fixed charges (see “B” below)
     152       145       123       115       127       134  
  Amortization of capitalized interest
     -       1       -       -       -       -  
  Distributed income of equity investees
     10       -       -       -       -       -  
Less:
                                                
Interest capitalized
     (1 )     (1 )     (5 )     (3 )     (2 )     -  
Noncontrolling interest in pre-tax income of subsidiaries that have not incurred fixed charges
     (10 )     (14 )     (16 )     (27 )     (20 )     (30 )
Adjusted Earnings (A)
   $ 440     $ 442     $ 492     $ 469     $ 474     $ 472  
                                                 
Fixed charges
                                                
Interest on long-term debt
   $ 132     $ 101     $ 109     $ 98     $ 96     $ 97  
Other interest, including amortized premiums, discounts and capitalized expenses related to indebtedness liability
     10       37       7       10       24       30  
Estimated interest components of rentals
     10       7       7       7       7       7  
     Total fixed charges (B)
   $ 152     $ 145     $ 123     $ 115     $ 127     $ 134  
                                                 
Ratio of earnings to fixed charges (A)/(B)
     2.89       3.05       4.00       4.08       3.73       3.52