EX-12.1 5 x12.htm

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Exhibit 12.1

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

1/27/2006

 

ALABAMA POWER COMPANY

Computation of ratio of earnings to fixed charges for

the five years ended December 31, 2005

and the year to date December 31, 2005

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Twelve

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Months

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ended

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31,

 

 

 

 

 

2001

 

 

2002

 

 

2003

 

 

2004

 

 

2005

 

 

----------------------------------------------------------------------------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

 

 

Interest expense, net of amounts capitalized

 

 

247,789

 

 

226,732

 

 

215,858

 

 

211,373

 

 

215,431

 

 

Distributions on mandatorily redeemable preferred securities

 

24,775

 

 

24,599

 

 

15,255

 

 

0

 

 

0

 

 

AFUDC - Debt funds

 

 

9,569

 

 

6,854

 

 

6,421

 

 

6,856

 

 

8,173

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings as defined

 

 

$934,600

 

 

$1,028,379

 

 

$1,019,754

 

 

$1,038,184

 

 

$1,043,119

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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

 

 

Interest on affiliated loans

 

 

1,082

 

 

845

 

 

274

 

 

16,479

 

 

16,563

 

 

Interest on interim obligations

 

 

13,556

 

 

1,160

 

 

388

 

 

465

 

 

1,063

 

 

Amort of debt disc, premium and expense, net

 

 

11,740

 

 

12,857

 

 

15,671

 

 

14,793

 

 

14,559

 

 

Other interest charges

 

 

10,352

 

 

10,577

 

 

21,993

 

 

13,266

 

 

4,877

 

 

Distributions on mandatorily redeemable preferred securities

 

24,775

 

 

24,599

 

 

15,255

 

 

0

 

 

0

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed charges as defined

 

 

$282,132

 

 

$258,186

 

 

$237,534

 

 

$218,229

 

 

$223,604

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

RATIO OF EARNINGS TO FIXED CHARGES

 

 

3.31

 

 

3.98

 

 

4.29

 

 

4.76

 

 

4.67