EX-12.1 5 x12-1al8k.htm

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Exhibit 12.1

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2/23/2009

 

ALABAMA POWER COMPANY

Computation of ratio of earnings to fixed charges for

the five years ended December 31, 2008

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Year ended December 31,

 

 

 

 

 

 

 

2004

 

 

2005

 

 

2006

 

 

2007

 

 

2008

 

 

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

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

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings before income taxes

 

 

$

819,955

 

$

819,515

 

$

875,256

 

$

969,493

 

$

1,026,386

 

Interest expense, net of amounts capitalized

 

 

 

211,373

 

 

215,431

 

 

254,229

 

 

275,814

 

 

280,921

 

Distributions on mandatorily redeemable preferred securities

 

 

 

0

 

 

0

 

 

0

 

 

0

 

 

0

 

AFUDC - Debt funds

 

 

 

6,856

 

 

8,173

 

 

7,939

 

 

17,990

 

 

20,251

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings as defined

 

 

$

1,038,184

 

$

1,043,119

 

$

1,137,424

 

$

1,263,297

 

$

1,327,558

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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

 

 

 

 

 

 

 

 

 

 

 

 

Interest on long-term debt

 

 

$

173,226

 

$

186,542

 

$

231,060

 

$

250,512

 

$

264,621

 

Interest on affiliated loans

 

 

 

16,479

 

 

16,563

 

 

16,764

 

 

15,369

 

 

11,619

 

Interest on interim obligations

 

 

 

465

 

 

1,063

 

 

1,873

 

 

1,915

 

 

1,070

 

Amort of debt disc, premium and expense, net

 

 

 

14,793

 

 

14,559

 

 

12,987

 

 

14,542

 

 

11,776

 

Other interest charges

 

 

 

13,266

 

 

4,877

 

 

(514)

 

 

11,467

 

 

12,086

 

Distributions on mandatorily redeemable preferred securities

 

 

 

0

 

 

0

 

 

0

 

 

0

 

 

0

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed charges as defined

 

 

$

218,229

 

$

223,604

 

$

262,170

 

$

293,805

 

$

301,172

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

RATIO OF EARNINGS TO FIXED CHARGES

 

 

 

4.76

 

 

4.67

 

 

4.34

 

 

4.30

 

 

4.41