EX-12.1 5 x12-1.txt COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES Exhibit 12.1 11/8/2004 ALABAMA POWER COMPANY Computation of ratio of earnings to fixed charges for the five years ended December 31, 2003 and the year to date September 30, 2004
Nine Months Ended Year ended December 31, September 30, ---------------------------------------------------------- ------------- 1999 2000 2001 2002 2003 2004 ---- ---- ---- ---- ---- ---- ------------------------------Thousands of Dollars---------------------- EARNINGS AS DEFINED IN ITEM 503 OF REGULATION S-K: Earnings before income taxes $659,745 $698,801 $652,467 $ 770,194 $ 782,220 $702,519 Interest expense, net of amounts capitalized 219,150 237,873 247,789 226,732 215,858 158,380 Distributions on mandatorily redeemable preferred securities 24,662 25,549 24,775 24,599 15,255 3,938 AFUDC - Debt funds 11,010 20,197 9,569 6,854 6,421 5,139 --------- --------- --------- ----------- ----------- --------- Earnings as defined $914,567 $982,420 $934,600 $1,028,379 $1,019,754 $869,976 ========= ========= ========= =========== =========== ========= FIXED CHARGES AS DEFINED IN ITEM 503 OF REGULATION S-K: Interest on long-term debt $193,968 $222,530 $220,627 $ 208,148 $ 183,953 $132,554 Interest on affiliated loans 0 0 1,082 845 274 8,485 Interest on interim obligations 9,865 10,759 13,556 1,160 388 273 Amort of debt disc, premium and expense, net 11,171 11,668 11,740 12,857 15,671 11,118 Other interest charges 15,158 13,113 10,352 10,577 21,993 11,090 Distributions on mandatorily redeemable preferred securities 24,662 25,549 24,775 24,599 15,255 3,938 -------- -------- --------- ----------- ----------- -------- --------- --------- --------- ----------- ----------- --------- Fixed charges as defined $254,824 $283,619 $282,132 $ 258,186 $ 237,534 $167,458 ========= ========= ========= =========== =========== ========= RATIO OF EARNINGS TO FIXED CHARGES 3.59 3.46 3.31 3.98 4.29 5.20 ===== ===== ===== ===== ===== ====