EX-12.1 5 x12-1.htm

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Exhibit 12.1

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

9/7/2007

ALABAMA POWER COMPANY

Computation of ratio of earnings to fixed charges for

the five years ended December 31, 2006

and the year to date June 30, 2007

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Six

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Months

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ended

 

Year ended December 31,

 

 

June 30,

 

 

2002

 

 

2003

 

 

2004

 

 

2005

 

 

2006

 

 

2007

 

--------------------------------------------------Thousands of Dollars--------------------------------------------------

EARNINGS AS DEFINED IN ITEM 503 OF REGULATION S-K:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings before income taxes

$

770,194

 

$

782,220

 

$

819,955

 

$

819,515

 

$

875,256

 

$

446,639

Interest expense, net of amounts capitalized

 

226,732

 

 

215,858

 

 

211,373

 

 

215,431

 

 

254,229

 

 

137,785

Distributions on mandatorily redeemable preferred securities

24,599

 

 

15,255

 

 

0

 

 

0

 

 

0

 

 

0

AFUDC - Debt funds

 

6,854

 

 

6,421

 

 

6,856

 

 

8,173

 

 

7,939

 

 

7,600

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings as defined

$

1,028,379

 

$

1,019,754

 

$

1,038,184

 

$

1,043,119

 

$

1,137,424

 

$

592,024

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

FIXED CHARGES AS DEFINED IN ITEM 503 OF REGULATION S-K:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest on long-term debt

$

208,148

 

$

183,953

 

$

173,226

 

$

186,542

 

$

231,060

 

$

122,664

Interest on affiliated loans

 

845

 

 

274

 

 

16,479

 

 

16,563

 

 

16,764

 

 

8,274

Interest on interim obligations

 

1,160

 

 

388

 

 

465

 

 

1,063

 

 

1,873

 

 

1,791

Amort of debt disc, premium and expense, net

 

12,857

 

 

15,671

 

 

14,793

 

 

14,559

 

 

12,987

 

 

7,226

Other interest charges

 

10,577

 

 

21,993

 

 

13,266

 

 

4,877

 

 

(514)

 

 

5,430

Distributions on mandatorily redeemable preferred securities

24,599

 

 

15,255

 

 

0

 

 

0

 

 

0

 

 

0

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed charges as defined

$

258,186

 

$

237,534

 

$

218,229

 

$

223,604

 

$

262,170

 

$

145,385

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

RATIO OF EARNINGS TO FIXED CHARGES

 

3.98

 

 

4.29

 

 

4.76

 

 

4.67

 

 

4.34

 

 

4.07