EX-12.2 4 ex12-2.htm ex12-2.htm
Exhibit 12.2
2/24/2011
 
ALABAMA POWER COMPANY
Computation of ratio of earnings to fixed charges plus preferred and preference
dividend requirements for the five years ended December 31, 2009
and the year to date December 31, 2010
 
                                     
                                  Twelve  
                                  Months  
                                  Ended  
 
Year ended December 31,
    December 31,
   
2005
   
2006
   
2007
   
2008
   
2009
   
2010
 
 
--------------------------------------------------Thousands of Dollars--------------------------------------------------
 
EARNINGS AS DEFINED IN ITEM 503 OF REGULATION S-K:
                                 
Earnings before income taxes
$
819,516
 
$
875,256
 
$
969,492
 
$
1,026,387
 
$
1,095,813
 
$
1,213,008
 
Interest expense, net of amounts capitalized
 
215,431
   
254,229
   
275,814
   
280,920
   
300,365
   
305,083
 
Distributions on mandatorily redeemable preferred securities
 
0
   
0
   
0
   
0
   
0
   
0
 
AFUDC - Debt funds
 
8,173
   
7,939
   
17,991
   
20,252
   
33,183
   
14,034
 
Earnings as defined
$
1,043,120
 
$
1,137,424
 
$
1,263,297
 
$
1,327,559
 
$
1,429,361
 
$
1,532,125
 
                                     
                                     
FIXED CHARGES AS DEFINED IN ITEM 503 OF REGULATION S-K:
                               
Interest on long-term debt
$
186,541
 
$
231,061
 
$
250,511
 
$
264,620
 
$
288,723
 
$
288,732
 
Interest on affiliated loans
 
16,563
   
16,764
   
15,369
   
11,619
   
10,343
   
7,264
 
Interest on interim obligations
 
1,063
   
1,873
   
1,915
   
1,070
   
69
   
15
 
Amort of debt disc, premium and expense, net
 
14,559
   
12,986
   
14,542
   
11,776
   
11,138
   
10,502
 
Other interest charges
 
4,878
   
(516)
   
11,468
   
12,087
   
23,275
   
12,604
 
Distributions on mandatorily redeemable preferred securities
 
0
   
0
   
0
   
0
   
0
   
0
 
Fixed charges as defined
 
223,604
   
262,168
   
293,805
   
301,172
   
333,548
   
319,117
 
Tax deductible preferred dividends
 
1,089
   
1,089
   
1,089
   
1,089
   
1,089
   
1,089
 
   
224,693
   
263,257
   
294,894
   
302,261
   
334,637
   
320,206
 
Non-tax deductible preferred and preference dividends
 
23,200
   
23,645
   
35,055
   
38,375
   
38,375
   
38,375
 
Ratio of net income before taxes to net income
x
1.540
 
x
1.613
 
x
1.575
 
x
1.566
 
x
1.546
 
x
1.624
 
Preferred and preference dividend requirements before income
taxes
 
35,728
   
 
38,139
   
 
55,212
   
 
60,095
   
 
59,328
   
 
62,321
 
Fixed charges plus preferred and preference
dividend requirements
 
$
 
260,421
 
 
$
 
301,396
 
 
$
 
350,106
 
 
$
 
362,356
 
 
$
 
393,965
 
 
$
 
382,527
 
                                     
RATIO OF EARNINGS TO FIXED CHARGES PLUS PREFERRED
                               
AND PREFERENCE DIVIDEND REQUIREMENTS
 
4.01
   
3.77
   
3.61
   
3.66
   
3.63
   
4.01