EX-12.1 5 exhibit12.txt RATIO OF EARNINGS TO FIXED CHARGES Exhibit 12.1 4/25/2006 ALABAMA POWER COMPANY Computation of ratio of earnings to fixed charges for the five years ended December 31, 2005 and the year to date March 31, 2006
Three Months Ended Year ended December 31, March 31, ------------------------------------------------------------------------------- 2001 2002 2003 2004 2005 2006 -------------------------------Thousands of Dollars---------------------------- EARNINGS AS DEFINED IN ITEM 503 OF REGULATION S-K: Earnings before income taxes $ 652,467 $ 770,194 $ 782,220 $ 819,955 $ 819,515 $ 142,127 Interest expense, net of amounts capitalized 247,789 226,732 215,858 211,373 215,431 57,756 Distributions on mandatorily redeemable preferred securities 24,775 24,599 15,255 0 0 0 AFUDC - Debt funds 9,569 6,854 6,421 6,856 8,173 2,424 ---------- ----------- ----------- ----------- ----------- ---------- Earnings as defined $ 934,600 $1,028,379 $1,019,754 $1,038,184 $1,043,119 $ 202,307 ========== =========== =========== =========== =========== ========== FIXED CHARGES AS DEFINED IN ITEM 503 OF REGULATION S-K: Interest on long-term debt $ 220,627 $ 208,148 $ 183,953 $ 173,226 $ 186,542 $ 52,458 Interest on affiliated loans 1,082 845 274 16,479 16,563 4,408 Interest on interim obligations 13,556 1,160 388 465 1,063 899 Amort of debt disc, premium and expense, net 11,740 12,857 15,671 14,793 14,559 3,356 Other interest charges 10,352 10,577 21,993 13,266 4,877 (938) Distributions on mandatorily redeemable preferred securities 24,775 24,599 15,255 0 0 0 ---------- ----------- ----------- ----------- ----------- ---------- Fixed charges as defined $ 282,132 $ 258,186 $ 237,534 $ 218,229 $ 223,604 $ 60,183 ========== =========== =========== =========== =========== ========== RATIO OF EARNINGS TO FIXED CHARGES 3.31 3.98 4.29 4.76 4.67 3.36