EX-12 5 seriesaex12_2.txt RATIO OF EARNINGS
Exhibit 12.2 1/31/102 THE SOUTHERN COMPANY Computation of ratio of earnings to fixed charges plus preferred dividend requirements for the five years ended December 31, 2001 -------------------------------------------------------------------------------- 1997 1998 1999 2000 2001 ---- ---- ---- ---- ---- --------------------Thousands of Dollars----------------------------------------- EARNINGS AS DEFINED IN ITEM 503 OF REGULATION S-K: Earnings Before Interest and Income Taxes $ 2,350,257 $ 2,380,327 $ 2,264,608 $ 2,429,177 $ 2,412,522 AFUDC - Debt funds/Capital Interest 14,053 11,914 23,924 44,356 56,635 ------------ ------------ ------------- -------------- ------------- Earnings as defined $ 2,364,310 $ 2,392,241 $ 2,288,532 $ 2,473,533 $ 2,469,157 ============ ============ ============= ============== ============= FIXED CHARGES AS DEFINED IN ITEM 503 OF REGULATION S-K: Interest on long-term debt $ 404,596 $ 378,598 $ 394,343 $ 485,488 $ 462,703 Interest on interim obligations 74,606 64,224 93,751 134,035 82,386 Amort of debt disc, premium and expense, net 28,444 60,282 30,666 30,247 30,808 Other interest charges 163,714 208,456 235,694 222,694 198,710 --------- --------- ---------- ----------- ---------- Fixed charges as defined 671,360 711,560 754,454 872,464 774,607 Tax deductible preferred dividends 2,918 1,905 1,631 1,618 1,617 --------- --------- ---------- ----------- ---------- 674,278 713,465 756,085 874,082 776,224 ------------ ------------ ------------- -------------- ------------- Non-tax deductible preferred dividends 39,823 23,384 18,792 17,575 16,834 Ratio of net income before taxes to net income x 1.639 x 1.663 x 1.641 x 1.581 x 1.490 ------------ ------------ ------------- -------------- ------------- Pref dividend requirements before income taxes 65,270 38,888 30,838 27,786 25,083 ------------ ------------ ------------- -------------- ------------- Fixed charges plus pref dividend requirements $ 739,548 $ 752,353 $ 786,923 $ 901,868 $ 801,307 ============ ============ ============= ============== ============= RATIO OF EARNINGS TO FIXED CHARGES PLUS PREFERRED DIVIDEND REQUIREMENTS 3.20 3.18 2.91 2.74 3.08 ===== ===== ===== ===== ====