EX-12.1 5 x12.htm

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Exhibit 12.1

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

11/27/2006

 

ALABAMA POWER COMPANY

Computation of ratio of earnings to fixed charges for

the five years ended December 31, 2005

and the year to date September 30, 2006

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Nine

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Months

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ended

 

 

Year ended December 31,

 

 

September 30,

 

 

 

2001

 

 

2002

 

 

2003

 

 

2004

 

 

2005

 

 

2006

 

 

--------------------------------------------------Thousands of Dollars--------------------------------------------------

EARNINGS AS DEFINED IN ITEM 503 OF REGULATION S-K:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings before income taxes

 

$652,467

 

 

$770,194

 

 

$782,220

 

 

$819,955

 

 

$819,515

 

 

$738,625

 

Interest expense, net of amounts capitalized

 

247,789

 

 

226,732

 

 

215,858

 

 

211,373

 

 

215,431

 

 

187,712

 

Distributions on mandatorily redeemable preferred securities

24,775

 

 

24,599

 

 

15,255

 

 

0

 

 

0

 

 

0

 

AFUDC - Debt funds

 

9,569

 

 

6,854

 

 

6,421

 

 

6,856

 

 

8,173

 

 

5,656

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings as defined

 

$934,600

 

 

$1,028,379

 

 

$1,019,754

 

 

$1,038,184

 

 

$1,043,119

 

 

$931,993

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

FIXED CHARGES AS DEFINED IN ITEM 503 OF REGULATION S-K:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest on long-term debt

 

$220,627

 

 

$208,148

 

 

$183,953

 

 

$173,226

 

 

$186,542

 

 

$171,098

 

Interest on affiliated loans

 

1,082

 

 

845

 

 

274

 

 

16,479

 

 

16,563

 

 

12,644

 

Interest on interim obligations

 

13,556

 

 

1,160

 

 

388

 

 

465

 

 

1,063

 

 

1,158

 

Amort of debt disc, premium and expense, net

 

11,740

 

 

12,857

 

 

15,671

 

 

14,793

 

 

14,559

 

 

9,809

 

Other interest charges

 

10,352

 

 

10,577

 

 

21,993

 

 

13,266

 

 

4,877

 

 

(1,341)

 

Distributions on mandatorily redeemable preferred securities

24,775

 

 

24,599

 

 

15,255

 

 

0

 

 

0

 

 

0

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed charges as defined

 

$282,132

 

 

$258,186

 

 

$ 237,534

 

 

$ 218,229

 

 

$ 223,604

 

 

$193,368

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

RATIO OF EARNINGS TO FIXED CHARGES

 

3.31

 

 

3.98

 

 

4.29

 

 

4.76

 

 

4.67

 

 

4.82