EX-12.1 6 x12.htm

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Exhibit 12.1

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

11/19/2007

GEORGIA POWER COMPANY

Computation of ratio of earnings to fixed charges for

the five years ended December 31, 2006

and the year to date September 30, 2007

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Nine

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Months

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ended

 

Year ended December 31,

 

 

September 30,

 

 

2002

 

 

2003

 

 

2004

 

 

2005

 

 

2006

 

 

2007

 

--------------------------------------------------Thousands of Dollars--------------------------------------------------

EARNINGS AS DEFINED IN ITEM 503 OF REGULATION S-K:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings before income taxes

$

1,010,350

 

$

1,037,301

 

$

1,081,028

 

$

1,197,831

 

$

1,236,845

 

$

1,124,215

Interest expense, net of amounts capitalized

 

181,024

 

 

193,728

 

 

240,572

 

 

297,313

 

 

319,894

 

 

262,687

Distributions on mandatorily redeemable preferred securities

65,293

 

 

62,415

 

 

15,948

 

 

0

 

 

0

 

 

0

AFUDC - Debt funds

 

8,570

 

 

5,634

 

 

10,295

 

 

11,812

 

 

12,354

 

 

19,024

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings as defined

$

1,265,237

 

$

1,299,078

 

$

1,347,843

 

$

1,506,956

 

$

1,569,093

 

$

1,405,926

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

FIXED CHARGES AS DEFINED IN ITEM 503 OF REGULATION S-K:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest on long-term debt

$

148,534

 

$

167,125

 

$

179,219

 

$

215,264

 

$

217,954

 

$

194,401

Interest on affiliated loans

 

10,195

 

 

3,299

 

 

46,512

 

 

68,735

 

 

87,672

 

 

56,554

Interest on interim obligations

 

3,078

 

 

0

 

 

24

 

 

0

 

 

0

 

 

0

 

 

 

 

 

 

Amort of debt disc, premium and expense, net

 

17,012

 

 

16,579

 

 

16,812

 

 

17,109

 

 

17,054

 

 

13,550

Other interest charges

 

10,774

 

 

12,359

 

 

8,301

 

 

8,017

 

 

9,571

 

 

17,205

Distributions on mandatorily redeemable preferred securities

65,293

 

 

62,415

 

 

15,948

 

 

0

 

 

0

 

 

0

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed charges as defined

$

254,886

 

$

261,777

 

$

266,816

 

$

309,125

 

$

332,251

 

$

281,710

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

RATIO OF EARNINGS TO FIXED CHARGES

 

4.96

 

 

4.96

 

 

5.05

 

 

4.87

 

 

4.72

 

 

4.99