EX-12.1 6 x12-1.htm

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Exhibit 12.1

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2/12/2008

 

GEORGIA POWER COMPANY

Computation of ratio of earnings to fixed charges for

the five years ended December 31, 2007

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Year ended December 31,

 

 

 

 

 

2003

 

 

2004

 

 

2005

 

 

2006

 

 

2007

 

 

 

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

 

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

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings before income taxes

 

$

1,037,301

 

$

1,081,028

 

$

1,197,831

 

$

1,236,845

 

$

1,262,232

 

Interest expense, net of amounts capitalized

 

 

 

193,728

 

 

240,572

 

 

297,313

 

 

319,894

 

 

345,538

 

Distributions on mandatorily redeemable preferred securities

 

 

62,415

 

 

15,948

 

 

0

 

 

0

 

 

0

 

AFUDC - Debt funds

 

 

 

5,634

 

 

10,295

 

 

11,812

 

 

12,354

 

 

28,469

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings as defined

 

$

1,299,078

 

$

1,347,843

 

$

1,506,956

 

$

1,569,093

 

$

1,636,239

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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

 

 

 

 

 

 

 

 

 

 

 

 

Interest on long-term debt

 

$

167,125

 

$

179,219

 

$

215,264

 

$

217,954

 

$

270,429

 

Interest on affiliated loans

 

 

 

3,299

 

 

46,512

 

 

68,735

 

 

87,672

 

 

65,769

 

Interest on interim obligations

 

 

 

0

 

 

24

 

 

0

 

 

0

 

 

8,463

 

Amort of debt disc, premium and expense, net

 

 

 

16,579

 

 

16,812

 

 

17,109

 

 

17,054

 

 

18,431

 

Other interest charges

 

 

 

12,359

 

 

8,301

 

 

8,017

 

 

9,571

 

 

10,915

 

Distributions on mandatorily redeemable preferred securities

 

 

62,415

 

 

15,948

 

 

0

 

 

0

 

 

0

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed charges as defined

 

$

261,777

 

$

266,816

 

$

309,125

 

$

332,251

 

$

374,007

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

RATIO OF EARNINGS TO FIXED CHARGES

 

 

 

4.96

 

 

5.05

 

 

4.87

 

 

4.72

 

 

4.37