EX-12 10 x12e1.htm EXHIBIT 12(E)1 x12e1.htm
  Exhibit 12(e)1
 
 
MISSISSIPPI POWER COMPANY
Computation of ratio of earnings to fixed charges 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
$
131,840
 
$
137,594
 
$
136,042
 
$
136,914
 
$
128,225
 
$
117,541
 
Interest expense, net of amounts capitalized
 
18,640
   
18,158
   
17,979
   
22,940
   
22,341
   
15,401
 
Interest component of rental expense (a)
 
30,306
   
30,386
   
31,139
   
30,279
   
30,089
   
22,172
 
AFUDC - Debt funds
 
0
   
12
   
229
   
117
   
2,903
   
4,832
 
Earnings as defined
$
180,786
 
$
186,150
 
$
185,389
 
$
190,250
 
$
183,558
 
$
159,946
 
                                     
                                     
FIXED CHARGES AS DEFINED IN ITEM 503 OF REGULATION S-K:
                               
Interest on long-term debt
$
11,808
 
$
12,440
 
$
15,467
 
$
20,620
 
$
21,795
 
$
17,376
 
Interest capitalized as a regulatory asset
 
10,567
   
0
   
0
   
0
   
0
   
0
 
Interest on affiliated loans
 
3,881
   
4,095
   
730
   
47
   
33
   
14
 
Interest on interim obligations
 
1,425
   
0
   
0
   
0
   
0
   
0
 
Amort of debt disc, premium and expense, net
 
1,061
   
1,055
   
1,204
   
1,399
   
1,624
   
1,403
 
Other interest charges
 
465
   
580
   
807
   
991
   
1,792
   
1,745
 
Interest component of rental expense (a)
 
30,306
   
30,386
   
31,139
   
30,279
   
30,089
   
22,172
 
Fixed charges as defined
$
59,513
 
$
48,556
 
$
49,347
 
$
53,336
 
$
55,333
 
$
42,710
 
                                     
                                     
                                     
RATIO OF EARNINGS TO FIXED CHARGES
 
3.04
   
3.83
   
3.76
   
3.57
   
3.32
   
3.74
 
                                     
        (a)  Includes the interest component of rentals where determinable plus one-third of remaining rental expense.