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


   
 
 
 
 
 
Three months ended
    
Fiscal
    
Fiscal
    
Fiscal
    
Fiscal
    
Fiscal
  
Dollars in millions
  
March 31, 2014
    
2013
    
2012
    
2011
    
2010
    
2009
  
Earnings before income taxes
   $ 541     $ 522     $ 450     $ 311     $ 390     $ 384  
Add:
                                                
    Fixed charges (see “B” below)
     52       200       203       145       123       115  
    Amortization of capitalized interest (1)
     -       -       -       1       -       -  
    Distributed income of equity investees
     3       3       14       -       -       -  
Less:
                                                
    Interest capitalized (1)
     -       -       (1 )     (1 )     (5 )     (3 )
    Noncontrolling interest in pre-tax income of subsidiaries that have not incurred fixed charges
     (12 )     (18 )     (15 )     (14 )     (16 )     (27 )
    Adjusted earnings (A)
   $ 584     $ 707     $ 651     $ 442     $ 492     $ 469  
                                                 
Fixed charges
                                                
Interest on long-term debt
   $ 47     $ 182     $ 177     $ 101     $ 109     $ 98  
Other interest, including amortized premiums, discounts and capitalized expenses related to indebtedness liability
       2         6       13       37       7       10  
Estimated interest components of rentals
     3       12       13       7       7       7  
   Total fixed charges (B)
   $ 52     $ 200     $ 203     $ 145     $ 123     $ 115  
                                                 
   Ratio of earnings to fixed charges (A)/(B)
     11.23       3.54       3.21       3.05       4.00       4.08  
(1)  
 
Includes interest capitalized and related amortization for our nonregulated segments.