EX-12.2 7 ex12-2.txt
Exhibit 12.2 GEORGIA POWER COMPANY Computation of ratio of earnings to fixed charges plus preferred dividend requirements for the five years ended December 31, 2001 and the year to date September 30, 2002 Nine Months Ended Year ended December 31, September 30, ---------------------------------------------------------------------------- 1997 1998 1999 2000 2001 2002 ---- ---- ---- ---- ---- ---- -----------------------------------------Thousands of Dollars----------------- EARNINGS AS DEFINED IN ITEM 503 OF REGULATION S-K: Earnings Before Interest and Income Taxes $ 1,277,565 $ 1,249,768 $ 1,158,999 $ 1,192,370 $1,220,654 $ 1,077,452 AFUDC - Debt funds 9,030 7,117 12,429 23,396 13,574 6,505 ------------- ------------ ------------ ----------- ---------- ----------- Earnings as defined $ 1,286,595 $ 1,256,885 $ 1,171,428 $ 1,215,766 $1,234,228 $ 1,083,957 ============= =========== ============ =========== ========== ============ FIXED CHARGES AS DEFINED IN ITEM 503 OF REGULATION S-K: Interest on long-term debt $ 196,707 $ 182,879 $ 164,375 $ 171,994 $ 162,546 $ 101,540 Interest on affiliated loans 0 0 0 0 12,389 8,602 Interest on interim obligations 7,795 12,213 19,787 28,262 12,693 3,074 Amort of debt disc, premium and expense, net 14,191 13,378 15,127 14,257 15,106 12,021 Other interest charges 57,623 71,536 75,868 79,396 55,175 53,427 ------------- ----------- ------------ ------------ ----------- ------------ Fixed charges as defined 276,316 280,006 275,157 293,909 257,909 178,664 Tax deductible preferred dividends 912 297 283 270 268 201 -------------- ----------- ------------ ------------ ----------- ------------ 277,228 280,303 275,440 294,179 258,177 178,865 ------------- ----------- ------------ ------------ ----------- ------------ Non-tax deductible preferred dividends 18,015 5,642 1,446 404 402 302 Ratio of net income before taxes to net income x 1.648 x 1.695 x 1.650 x 1.646 x 1.599 x 1.589 -------------- ---------- ------------ ------------ ----------- ------------ Pref dividend requirements before income taxes 29,689 9,563 2,386 665 643 480 -------------- ----------- ------------ ----------- ---------- ------------ Fixed charges plus pref dividend requirements $ 306,917 $ 289,866 $ 277,826 $ 294,844 $ 258,820 $ 179,345 ============= =========== ============ =========== ========== =========== RATIO OF EARNINGS TO FIXED CHARGES PLUS PREFERRED DIVIDEND REQUIREMENTS 4.19 4.34 4.22 4.12 4.77 6.04 ===== ===== ===== ===== ===== ==== Note: The above figures have been adjusted to give effect to Georgia Power Company's 50% ownership of Southern Electric Generating Company.