EX-12 5 x12b2.htm EXHIBIT 12(B)2 x12b2.htm
  Exhibit 12(b)2
 
 
ALABAMA POWER COMPANY
Computation of ratio of earnings to fixed charges plus preferred and preference
dividend requirements for the five years ended December 31, 2010
and the year to date September 30, 2011
 
                                  Nine
                                  Months
                                  Ended
 
Year ended December 31,
    September 30,
   
2006
   
2007
   
2008
   
2009
   
2010
   
2011
 
 
-----------------------------------Thousands of Dollars----------------------------------------
EARNINGS AS DEFINED IN ITEM 503 OF REGULATION S-K:
                                 
Earnings before income taxes
$
868
 
$
962
 
$
1,018
 
$
1,088
 
$
1,204
 
$
1,037
 
Distributed income of equity investees
 
4
 
 
1
 
 
4
 
 
0
 
 
2
 
 
6
 
Interest expense, net of amounts capitalized
 
252
   
274
   
279
   
298
   
303
   
224
 
Interest component of rental expense
 
45
   
46
   
44
   
40
   
23
   
16
 
AFUDC - Debt funds
 
8
   
18
   
20
   
33
   
14
   
7
 
Earnings as defined
$
1,177
 
$
1,301
 
$
1,365
 
$
1,459
 
$
1,546
 
$
1,290
 
                                     
                                     
FIXED CHARGES AS DEFINED IN ITEM 503 OF REGULATION S-K:
                               
Interest on long-term debt
$
229
 
$
249
 
$
263
 
$
287
 
$
287
 
$
211
 
Interest on affiliated loans
 
16
   
15
   
11
   
10
   
7
   
5
 
Interest on interim obligations
 
2
   
2
   
1
   
0
   
0
   
0
 
Amort of debt disc, premium and expense, net
 
13
   
14
   
12
   
11
   
10
   
8
 
Other interest charges
 
0
   
12
   
12
   
23
   
13
   
7
 
Interest component of rental expense
 
45
   
46
   
44
   
40
   
23
   
16
 
Fixed charges as defined
 
305
   
338
   
343
   
371
   
340
   
247
 
Tax deductible preferred dividends
 
1
   
1
   
1
   
1
   
1
   
1
 
   
306
   
339
   
344
   
372
   
341
   
248
 
Non-tax deductible preferred and preference dividends
 
24
   
35
   
38
   
38
   
38
   
29
 
Ratio of net income before taxes to net income
x
1.609
 
x
1.570
 
x
1.561
 
x
1.542
 
x
1.620
 
x
1.640
 
Preferred and preference dividend requirements
    before income taxes
 
38
   
 
55
   
 
60
   
 
59
   
 
62
   
 
47
 
Fixed charges plus preferred and preference
    dividend requirements
 
$
 
344
 
 
$
 
394
 
 
$
 
404
 
 
$
 
431
 
 
$
 
403
 
 
$
 
295
 
                                     
RATIO OF EARNINGS TO FIXED CHARGES PLUS PREFERRED
                               
AND PREFERENCE DIVIDEND REQUIREMENTS
 
3.42
   
3.30
   
3.38
   
3.38
   
3.83
   
4.38