EX-12.1 2 x12-1.txt Exhibit 12.1 11/30/2005 GEORGIA POWER COMPANY Computation of ratio of earnings to fixed charges for the five years ended December 31, 2004 and the year to date September 30, 2005
Nine Months Ended Year ended December 31, September 30, ---------------------------------------------------------------- -------------- 2000 2001 2002 2003 2004 2005 ---- ---- ---- ---- ---- ---- -------------------------------Thousands of Dollars------------------------------- EARNINGS AS DEFINED IN ITEM 503 OF REGULATION S-K: Earnings before income taxes $ 921,857 $ 976,319 $ 977,583 $ 998,324 $1,040,005 $1,051,643 Interest expense, net of amounts capitalized 211,409 185,231 169,417 184,138 228,526 209,538 Distributions on mandatorily redeemable preferred securities 59,104 59,104 62,553 59,675 15,839 0 AFUDC - Debt funds 23,396 13,574 8,405 5,415 8,824 8,703 ---------- ---------- ---------- ---------- ---------- ---------- Earnings as defined $1,215,766 $1,234,228 $1,217,958 $1,247,552 $1,293,194 $1,269,884 ========== ========== ========== ========== ========== ========== FIXED CHARGES AS DEFINED IN ITEM 503 OF REGULATION S-K: Interest on long-term debt $ 171,994 $ 162,546 $ 138,850 $ 158,587 $ 167,821 $ 150,133 Interest on affiliated loans 0 12,389 9,793 3,194 46,315 50,800 Interest on interim obligations 28,262 12,692 3,074 0 0 0 Amort of debt disc, premium and expense, net 14,257 15,106 16,108 15,598 15,533 11,988 Other interest charges 20,292 (3,928) 9,995 12,174 7,682 5,320 Distributions on mandatorily redeemable preferred securities 59,104 59,104 62,553 59,675 15,839 0 ---------- ---------- ---------- ---------- ---------- ---------- Fixed charges as defined $ 293,909 $ 257,909 $ 240,373 $ 249,228 $ 253,190 $ 218,241 ========== ========== ========== ========== ========== ========== RATIO OF EARNINGS TO FIXED CHARGES 4.14 4.79 5.07 5.01 5.11 5.82 ==== ==== ==== ==== ==== ====
GEORGIA POWER COMPANY Computation of ratio of earnings to fixed charges plus preferred dividend requirements for the five years ended December 31, 2004 and the year to date September 30, 2005
Nine Months Ended Year ended December 31, September 30, ------------------------------------------------------- -------------- 2000 2001 2002 2003 2004 2005 ---- ---- ---- ---- ---- ---- -------------------------Thousands of Dollars-------------------------- EARNINGS AS DEFINED IN ITEM 503 OF REGULATION S-K: Earnings before income taxes $ 921,857 $ 976,319 $ 977,583 $ 998,324 $1,040,005 $1,051,643 Interest expense, net of amounts capitalized 211,409 185,231 169,417 184,138 228,526 209,538 Distributions on mandatorily redeemable preferred securities 59,104 59,104 62,553 59,675 15,839 0 AFUDC - Debt funds 23,396 13,574 8,405 5,415 8,824 8,703 ---------- ---------- ---------- ---------- ---------- ---------- Earnings as defined $1,215,766 $1,234,228 $1,217,958 $1,247,552 $1,293,194 $1,269,884 ========== ========== ========== ========== ========== ========== FIXED CHARGES AS DEFINED IN ITEM 503 OF REGULATION S-K: Interest on long-term debt $ 171,994 $ 162,546 $ 138,850 $ 158,587 $ 167,821 $ 150,133 Interest on affiliated loans 0 12,389 9,793 3,194 46,315 50,800 Interest on interim obligations 28,262 12,692 3,074 0 0 0 Amort of debt disc, premium and expense, net 14,257 15,106 16,108 15,598 15,533 11,988 Other interest charges 20,292 (3,928) 9,995 12,174 7,682 5,320 Distributions on mandatorily redeemable preferred securities 59,104 59,104 62,553 59,675 15,839 0 ---------- ---------- ---------- ---------- ---------- ---------- Fixed charges as defined 293,909 257,909 240,373 249,228 253,190 218,241 Tax deductible preferred dividends 270 268 268 268 268 201 ---------- ---------- ---------- ---------- ---------- ---------- 294,179 258,177 240,641 249,496 253,458 218,442 ---------- ---------- ---------- ---------- ---------- ---------- Non-tax deductible preferred dividends 404 402 402 402 402 325 Ratio of net income before taxes to net income x 1.646 x 1.599 x 1.581 x 1.582 x 1.579 x 1.604 ---------- ---------- ---------- ---------- ---------- ---------- Pref dividend requirements before income taxes 665 643 636 636 635 521 ---------- ---------- ---------- ---------- ---------- ---------- Fixed charges plus pref dividend requirements $ 294,844 $ 258,820 $ 241,277 $ 250,132 $ 254,093 $ 218,963 ========== ========== ========== ========== ========== ========== RATIO OF EARNINGS TO FIXED CHARGES PLUS PREFERRED DIVIDEND REQUIREMENTS 4.12 4.77 5.05 4.99 5.09 5.80 ==== ==== ==== ==== ==== ====