EX-12 7 x12c2.htm EXHIBIT 12(C)2 x12c2.htm
 Exhibit 12(c)2
 
 
GEORGIA 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
 
 
-----------------------------------Millions of Dollars-----------------------------------
EARNINGS AS DEFINED IN ITEM 503 OF REGULATION S-K:
                                 
Earnings before income taxes
$
1,228
   $
1,254
   $
1,402
   $
1,236
  $
1,414
 
1,626
 
Distributed income of equity investees
 
6
   
2
   
4
   
0
   
3
   
6
 
Interest expense, net of amounts capitalized
 
318
   
344
   
346
   
386
   
375
   
257
 
Interest component of rental expense
 
11
   
10
   
17
   
22
   
43
   
45
 
AFUDC - Debt funds
 
12
   
29
   
40
   
40
   
54
   
26
 
Earnings as defined
$
1,575
 
$
1,639
 
$
1,809
 
$
1,684
 
$
1,889
 
$
1,960
 
                                     
                                     
FIXED CHARGES AS DEFINED IN ITEM 503 OF REGULATION S-K:
                               
Interest on long-term debt
$
216
 
$
269
 
$
324
 
$
371
 
$
377
 
$
274
 
Interest on affiliated loans
 
87
   
66
   
22
   
13
   
13
   
9
 
Interest on interim obligations
 
0
   
9
   
3
   
1
   
0
   
0
 
Amort of debt disc, premium and expense, net
 
17
   
18
   
20
   
20
   
21
   
17
 
Other interest charges
 
10
   
11
   
16
   
20
   
19
   
(17)
 
Interest component of rental expense
 
11
   
10
   
18
   
22
   
42
   
45
 
Fixed charges as defined
 
341
   
383
   
403
   
447
   
472
   
328
 
Tax deductible preferred dividends
 
0
   
0
   
0
   
0
   
0
   
0
 
   
341
   
383
   
403
   
447
   
472
   
328
 
Non-tax deductible preferred and preference dividends
 
5
   
6
   
17
   
17
   
17
   
13
 
Ratio of net income before taxes to net income
x
1.563
 
x
1.481
 
x
1.530
 
x
1.493
 
x
1.468
 
x
1.557
 
Preferred and preference dividend requirements
    before income taxes
 
8
   
 
9
   
 
26
   
 
26
   
 
26
   
 
20
 
Fixed charges plus preferred and preference
    dividend requirements
 
$
 
349
 
 
$
 
392
 
 
$
 
429
 
 
$
 
473
 
 
$
 
498
 
 
$
 
348
 
                                     
RATIO OF EARNINGS TO FIXED CHARGES PLUS PREFERRED
                               
AND PREFERENCE DIVIDEND REQUIREMENTS
 
4.51
   
4.19
   
4.21
   
3.56
   
3.80
   
5.63