EX-12.2 4 ex12-2apcsx312312013.htm EXHIBIT Ex 12-2 APC S-3 12.31.2013


Exhibit 12.2
ALABAMA POWER COMPANY
Computation of ratio of earnings to fixed charges plus preferred and preference
dividend requirements 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 securities
 

 
 
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

  Amort 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

Tax deductible preferred dividends
 
1,089

 
 
1,089

 
 
1,089

 
 
1,089

 
 
1,089

 
 
372,138

 
 
341,340

 
 
327,347

 
 
313,577

 
 
288,493

Non-tax deductible preferred and preference dividends
 
38,375

 
 
38,375

 
 
38,375

 
 
38,375

 
 
38,375

Ratio of net income before taxes to net income
x
1.542

 
x
1.620

 
x
1.640

 
x
1.642

 
x
1.635

Preferred and preference dividend requirements before income taxes
 
59,158

 
 
62,159

 
 
62,923

 
 
62,994

 
 
62,761

Fixed charges plus preferred and preference dividend requirements
$
431,296

 
$
403,499

 
$
390,270

 
$
376,571

 
$
351,254

RATIO OF EARNINGS TO FIXED CHARGES PLUS PREFERRED AND PREFERENCE DIVIDEND REQUIREMENTS
 
3.38

 
 
3.83

 
 
3.98

 
 
4.07

 
 
4.31