Exhibit 12.2 | |||||||||||||||||
GEORGIA POWER COMPANY | |||||||||||||||||
Computation of ratio of earnings to fixed charges plus preferred and preference dividend requirements | |||||||||||||||||
the five years ended December 31, 2015 | |||||||||||||||||
Year ended December 31, | ||||||||||||||||||||||
2011 | 2012 | 2013 | 2014 | 2015 | ||||||||||||||||||
---------------------------------------------Thousands of Dollars----------------------------------------------- | ||||||||||||||||||||||
EARNINGS AS DEFINED IN ITEM 503 OF REGULATION S-K: | ||||||||||||||||||||||
Earnings Before Income Taxes | $ | 1,781,406 | $ | 1,867,911 | $ | 1,909,491 | $ | 1,965,691 | $ | 2,040,164 | ||||||||||||
Distributed income of equity investees | 13,830 | 7,126 | 3,649 | 1,632 | 17 | |||||||||||||||||
Interest expense, net of amounts capitalized | 342,935 | 365,842 | 360,546 | 348,482 | 363,120 | |||||||||||||||||
Interest component of rental expense | 59,943 | 60,987 | 64,442 | 64,296 | 97,651 | |||||||||||||||||
Amortization of capitalized interest | 40 | 41 | 40 | 40 | 40 | |||||||||||||||||
AFUDC - Debt funds | 36,952 | 21,185 | 13,500 | 17,903 | 16,061 | |||||||||||||||||
Earnings as defined | $ | 2,235,106 | $ | 2,323,092 | $ | 2,351,668 | $ | 2,398,044 | $ | 2,517,053 | ||||||||||||
FIXED CHARGES AS DEFINED IN ITEM 503 OF REGULATION S-K: | ||||||||||||||||||||||
Interest on long-term debt | $ | 362,030 | $ | 364,508 | $ | 340,983 | $ | 332,634 | $ | 345,282 | ||||||||||||
Interest on affiliated loans | 9,340 | 174 | 281 | 697 | 811 | |||||||||||||||||
Interest on interim obligations | — | 1,359 | 664 | 671 | 495 | |||||||||||||||||
Amortization of debt discount, premium and expense, net | 22,497 | 23,033 | 25,868 | 25,315 | 24,496 | |||||||||||||||||
Other interest charges | (13,834 | ) | (1,953 | ) | 6,366 | 7,400 | 8,277 | |||||||||||||||
Interest component of rental expense | 59,943 | 60,987 | 64,442 | 64,296 | 97,651 | |||||||||||||||||
Fixed charges as defined | $ | 439,976 | $ | 448,108 | $ | 438,604 | $ | 431,013 | $ | 477,012 | ||||||||||||
Tax deductible preferred dividends | — | — | — | — | ||||||||||||||||||
439,976 | 448,108 | 438,604 | 431,013 | 477,012 | ||||||||||||||||||
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 | 1.538 | x | 1.580 | x | 1.606 | x | 1.587 | x | 1.602 | ||||||||||||
Preferred and preference dividend requirements before taxes | 26,735 | 27,471 | 27,920 | 27,584 | 27,840 | |||||||||||||||||
Fixed charges plus preferred and preference dividend requirements | $ | 466,711 | $ | 475,579 | $ | 466,524 | $ | 458,597 | $ | 504,852 | ||||||||||||
RATIO OF EARNINGS TO FIXED CHARGES | 4.79 | 4.88 | 5.04 | 5.23 | 4.99 |