EX-12.2 4 ex12-2gasx32013.htm EXHIBIT Ex 12-2 GA S-3 2013


Exhibit 12.2
GEORGIA POWER COMPANY
Computation of ratio of earnings to fixed charges plus preferred and preference
dividend requirements for the five years ended December 31, 2012

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Year ended December 31,
 
 
 
2008
 
 
2009
 
 
2010
 
 
2011
 
 
2012
 
 
----------------------------------------Thousands of Dollars--------------------------------------------------
EARNINGS AS DEFINED IN ITEM 503 OF REGULATION S-K:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  Earnings Before Income Taxes
$
1,401,995

 
$
1,236,111

 
$
1,414,245

 
$
1,781,406

 
$
1,867,911

 
  Distributed income of equity investees
 
4,278

 
 
363

 
 
2,849

 
 
13,830

 
 
7,126

 
  Interest expense, net of amounts capitalized
 
345,415

 
 
385,889

 
 
375,336

 
 
342,935

 
 
365,842

 
  Interest component of rental expense
 
17,309

 
 
21,523

 
 
42,467

 
 
59,943

 
 
60,121

 
  Amortization of capitalized interest
 
40

 
 
41

 
 
40

 
 
40

 
 
41

 
  AFUDC - Debt funds
 
39,573

 
 
39,719

 
 
54,253

 
 
36,952

 
 
21,185

 
     Earnings as defined
$
1,808,610

 
$
1,683,646

 
$
1,889,190

 
$
2,235,106

 
$
2,322,226

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
FIXED CHARGES AS DEFINED IN ITEM 503 OF REGULATION S-K:
 
 
 
 
 
 
 
 
 
 
 
 
 
  Interest on long-term debt
$
324,117

 
$
371,341

 
$
377,011

 
$
362,030

 
$
364,508

 
  Interest on affiliated loans
 
22,295

 
 
13,045

 
 
12,526

 
 
9,340

 
 
174

 
  Interest on interim obligations
 
3,114

 
 
538

 
 

 
 

 
 
1,359

 
  Amort of debt disc, premium and expense, net
 
19,906

 
 
20,241

 
 
21,492

 
 
22,497

 
 
23,033

 
  Other interest charges
 
15,790

 
 
20,573

 
 
18,657

 
 
(13,834
)
 
 
(1,953
)
 
  Interest component of rental expense
 
17,309

 
 
21,523

 
 
42,467

 
 
59,943

 
 
60,121

 
     Fixed charges as defined
 
402,531

 
 
447,261

 
 
472,153

 
 
439,976

 
 
447,242

 
Non-tax deductible preferred and preference dividends
 
17,381

 
 
17,381

 
 
17,381

 
 
17,381

 
 
17,381

 
Ratio of net income before taxes to net income
x
1.53

 
x
1.493

 
x
1.468

 
x
1.538

 
x
1.58

 
Preferred and preference dividend requirements before income taxes
 
26,588

 
 
25,952

 
 
25,514

 
 
26,735

 
 
27,471

 
Fixed charges plus preferred and preference dividend requirements
$
429,119

 
$
473,213

 
$
497,667

 
$
466,711

 
$
474,713

 
RATIO OF EARNINGS TO FIXED CHARGES PLUS PREFERRED AND PREFERENCE DIVIDEND REQUIREMENTS
4.21

 
 
3.56

 
 
3.80

 
 
4.79

 
 
4.89