EX-12.1 6 ex12-1apc9302017.htm EXHIBIT 12.1 Exhibit


Exhibit 12.1
ALABAMA POWER COMPANY
Computation of ratio of earnings to fixed charges for
the five years ended December 31, 2016
and the year to date September 30, 2017
 
Year Ended December 31,
 
 
Nine Months Ended
September 30,
 
 
2012
 
 
2013
 
 
2014
 
 
2015
 
 
2016
 
 
2017
 
---------------------------------------------Millions of Dollars-----------------------------------------------
EARNINGS AS DEFINED IN ITEM 503 OF REGULATION S-K:
 
 
 
 
 
 
 
 
 
 
Earnings Before Income Taxes
$
1,214

 
$
1,224

 
$
1,305

 
$
1,311

 
$
1,363

 
$
1,231

Distributed income of equity investees
 
7

 
 
4

 
 
2

 
 
—

 
 
12

 
 
10

Interest expense, net of amounts capitalized
 
287

 
 
259

 
 
255

 
 
274

 
 
302

 
 
229

Interest component of rental expense
 
19

 
 
17

 
 
18

 
 
19

 
 
20

 
 
17

AFUDC - Debt funds
 
7

 
 
11

 
 
18

 
 
22

 
 
11

 
 
10

Earnings as defined
$
1,534

 
$
1,515

 
$
1,598

 
$
1,626

 
$
1,708

 
$
1,497

FIXED CHARGES AS DEFINED IN ITEM 503 OF REGULATION S-K:
Interest on long-term debt
$
267

 
$
240

 
$
241

 
$
264

 
$
278

 
$
212

Interest on affiliated loans
 
7

 
 
7

 
 
7

 
 
7

 
 
8

 
 
7

Interest on interim obligations
 
—

 
 
—

 
 
—

 
 
—

 
 
—

 
 
—

Amortization of debt discount, premium and expense, net
 
10

 
 
13

 
 
14

 
 
14

 
 
16

 
 
12

Other interest charges
 
9

 
 
10

 
 
11

 
 
11

 
 
10

 
 
8

Interest component of rental expense
 
19

 
 
17

 
 
18

 
 
19

 
 
20

 
 
17

Fixed charges as defined
$
312

 
$
287

 
$
291

 
$
315

 
$
332

 
$
256

RATIO OF EARNINGS TO FIXED CHARGES
 
4.91

 
 
5.27

 
 
5.49

 
 
5.16

 
 
5.14

 
 
5.84