EX-12 8 x12.htm

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Exhibit 12.1

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

11/5/2008

GEORGIA POWER COMPANY

Computation of ratio of earnings to fixed charges for

the five years ended December 31, 2007

and the year to date September 30, 2008

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Nine

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Months

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ended

 

Year ended December 31,

 

 

September 30,

 

 

2003

 

 

2004

 

 

2005

 

 

2006

 

 

2007

 

 

2008

 

--------------------------------------------------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

 

$

1,294,553

Interest expense, net of amounts capitalized

 

193,728

 

 

240,572

 

 

297,313

 

 

319,894

 

 

345,538

 

 

257,794

Distributions on mandatorily redeemable preferred securities

62,415

 

 

15,948

 

 

0

 

 

0

 

 

0

 

 

0

AFUDC - Debt funds

 

5,634

 

 

10,295

 

 

11,812

 

 

12,354

 

 

28,469

 

 

29,959

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings as defined

$

1,299,078

 

$

1,347,843

 

$

1,506,956

 

$

1,569,093

 

$

1,636,239

 

$

1,582,306

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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

 

$

242,456

Interest on affiliated loans

 

3,299

 

 

46,512

 

 

68,735

 

 

87,672

 

 

65,769

 

 

17,174

Interest on interim obligations

 

0

 

 

24

 

 

0

 

 

0

 

 

8,463

 

 

2,476

Amort of debt disc, premium and expense, net

 

16,579

 

 

16,812

 

 

17,109

 

 

17,054

 

 

18,431

 

 

14,853

Other interest charges

 

12,359

 

 

8,301

 

 

8,017

 

 

9,571

 

 

10,915

 

 

10,793

Distributions on mandatorily redeemable preferred securities

62,415

 

 

15,948

 

 

0

 

 

0

 

 

0

 

 

0

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed charges as defined

$

261,777

 

$

266,816

 

$

309,125

 

$

332,251

 

$

374,007

 

$

287,752

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

RATIO OF EARNINGS TO FIXED CHARGES

 

4.96

 

 

5.05

 

 

4.87

 

 

4.72

 

 

4.37

 

 

5.50