EX-12 4 exhibit_12.htm EXHIBIT 12 exhibit_12.htm
 
Exhibit 12
 
 
 

AGL Resources Inc.
Statement Setting forth Ratio of Earnings to Fixed Charges


Dollars in millions
  
Nine months ended
Sept. 30, 2009
    
Fiscal 2008
    
Fiscal 2007
    
Fiscal 2006
    
Fiscal 2005
    
Fiscal 2004
  
Earnings as defined
                                    
  Earnings before income taxes
   $ 260     $ 369     $ 368     $ 364     $ 332     $ 261  
  (Income) from equity investees
     -       -       -       -       -       (2 )
  Pretax income as defined
     260       369       368       364       332       259  
Add:
                                                
  Fixed charges (see “B” below)
     85       127       134       133       119       81  
Less:
                                                
Interest capitalized
     (2 )     (2 )     -       (1 )     -       -  
Noncontrolling interest in pre-tax income of subsidiaries that have not incurred fixed charges
     (17 )     (20 )     (30 )     (23 )     (22 )     (18 )
Adjusted Earnings (A)
   $ 326     $ 474     $ 472     $ 473     $ 429     $ 322  
                                                 
Fixed charges
                                                
Interest on long-term debt
   $ 71     $ 96     $ 97     $ 99     $ 95     $ 66  
Other interest, including amortized premiums, discounts and capitalized expenses related to indebtedness liability
     9       24       30       27       16       8  
Estimated interest components of rentals
     5       7       7       7       8       7  
     Total fixed charges (B)
   $ 85     $ 127     $ 134     $ 133     $ 119     $ 81  
                                                 
Ratio of earnings to fixed charges (A)/(B)
     3.84       3.73       3.52       3.56       3.61       3.98