EX-12.1 3 ex12-1apcsx312312013.htm EXHIBIT Ex 12-1 APC S-3 12.31.2013


Exhibit 12.1
ALABAMA POWER COMPANY
Computation of ratio of earnings to fixed charges for
the five years ended December 31, 2013


 
Year ended December 31,
 
 
2009
 
 
2010
 
 
2011
 
 
2012
 
 
2013
 
 
EARNINGS AS DEFINED IN ITEM 503 OF REGULATION S-K:
 
 
 
 
 
 
 
 
 
 
Earnings Before Income Taxes
$
1,088,238

 
$
1,203,742

 
$
1,219,603

 
$
1,214,477

 
$
1,224,565

Distributed income of equity investees
 
—

 
 
2,486

 
 
7,371

 
 
7,126

 
 
3,649

Interest expense, net of amounts capitalized
 
298,495

 
 
303,165

 
 
298,934

 
 
286,748

 
 
258,587

Interest component of rental expense
 
39,442

 
 
23,094

 
 
18,573

 
 
18,930

 
 
17,234

AFUDC - Debt funds
 
33,112

 
 
13,992

 
 
8,751

 
 
6,810

 
 
11,236

Earnings as defined
$
1,459,287

 
$
1,546,479

 
$
1,553,232

 
$
1,534,091

 
$
1,515,271

FIXED CHARGES AS DEFINED IN ITEM 503 OF REGULATION S-K:
Interest on long-term debt
$
287,066

 
$
287,075

 
$
279,880

 
$
266,610

 
$
239,681

Interest on affiliated loans
 
10,291

 
 
7,196

 
 
7,119

 
 
7,476

 
 
7,081

Interest on interim obligations
 
69

 
 
15

 
 
44

 
 
9

 
 
17

Amortization of debt discount, premium and expense, net
 
11,050

 
 
10,368

 
 
9,437

 
 
10,062

 
 
13,374

Other interest charges
 
23,131

 
 
12,503

 
 
11,205

 
 
9,401

 
 
10,017

Interest component of rental expense
 
39,442

 
 
23,094

 
 
18,573

 
 
18,930

 
 
17,234

Fixed charges as defined
$
371,049

 
$
340,251

 
$
326,258

 
$
312,488

 
$
287,404

RATIO OF EARNINGS TO FIXED CHARGES
 
3.93

 
 
4.55

 
 
4.76

 
 
4.91

 
 
5.27