EX-12.2 16 x12_2.txt Exhibit 12.2 3/19/101 GEORGIA POWER COMPANY Computation of ratio of earnings to fixed charges plus preferred dividend requirements for the six years ended December 31, 2000
Year ended December 31, --------------------------------------------------------------------------------- 1995 1996 1997 1998 1999 2000 ---- ---- ---- ---- ---- ---- ------------------------------------Thousands of Dollars------------------------- EARNINGS AS DEFINED IN ITEM 503 OF REGULATION S-K: Earnings Before Interest and Income Taxes $1,407,861 $1,295,124 $1,277,565 $1,249,768 $1,158,999 $1,192,370 AFUDC - Debt funds 12,123 11,452 9,030 7,117 12,429 23,396 ----------- ----------- ----------- ----------- ----------- ----------- Earnings as defined $1,419,984 $1,306,576 $1,286,595 $1,256,885 $1,171,428 $1,215,766 =========== =========== =========== =========== =========== =========== FIXED CHARGES AS DEFINED IN ITEM 503 OF REGULATION S-K: Interest on long-term debt $ 257,092 $ 210,149 $ 196,707 $ 182,879 $ 164,375 $ 171,994 Interest on interim obligations 21,463 15,478 7,795 12,213 19,787 28,262 Amort of debt disc, premium and expense, net 15,846 14,802 14,191 13,378 15,127 14,257 Other interest charges 20,400 21,296 57,623 71,536 75,868 79,396 ---------- ----------- ----------- ----------- ----------- ----------- Fixed charges as defined 314,801 261,725 276,316 280,006 275,157 293,909 Tax deductible preferred dividends 1,753 1,753 912 297 283 270 ---------- ----------- ----------- ----------- ----------- ----------- 316,554 263,478 277,228 280,303 275,440 294,179 ---------- ----------- ----------- ----------- ----------- ----------- Non-tax deductible preferred dividends 46,399 43,273 18,015 5,642 1,446 404 Ratio of net income before taxes to net income x 1.682 x 1.671 x 1.648 x 1.695 x 1.650 x 1.646 ---------- ----------- ----------- ----------- ----------- ----------- Pref dividend requirements before income taxes 78,043 72,309 29,689 9,563 2,386 665 ------------------------------------------------------------- ----------- ----------- ----------- ----------- ----------- Fixed charges plus pref dividend requirements $ 394,597 $ 335,787 $ 306,917 $ 289,866 $ 277,826 $ 294,844 ========== =========== =========== =========== =========== =========== RATIO OF EARNINGS TO FIXED CHARGES PLUS PREFERRED DIVIDEND REQUIREMENTS 3.60 3.89 4.19 4.34 4.22 4.12 ===== ===== ===== ===== ===== ====
Note: The above figures have been adjusted to give effect to Georgia Power Company's 50% ownership of Southern Electric Generating Company.