Attached files
| file | filename |
|---|---|
| 8-K - 8-K - SOUTHERN CO | so2014a2014b8k.htm |
| EX-4.2B - EXHIBIT - SOUTHERN CO | so2014a2014b8-kex4x2b.htm |
| EX-4.2A - EXHIBIT - SOUTHERN CO | so2014a2014b8-kex4x2a.htm |
| EX-1.2A - EXHIBIT - SOUTHERN CO | so2014a2014b8kex1-2a.htm |
| EX-5.1A - EXHIBIT - SOUTHERN CO | so2014a2014b8kex51a.htm |
| EX-1.2B - EXHIBIT - SOUTHERN CO | so2014a2014b8-kex1x2b.htm |
| EX-5.1B - EXHIBIT - SOUTHERN CO | so2014a2014b8kex51b.htm |
Exhibit 12.1 | |||||||||||||||||
THE SOUTHERN COMPANY | |||||||||||||||||
Computation of ratio of earnings to fixed charges for | |||||||||||||||||
the five years ended December 31, 2013 | |||||||||||||||||
and the year to date June 30, 2014 | |||||||||||||||||
Year ended December 31, | Six Months Ended June 30, | ||||||||||||||||||||||
2009 | 2010 | 2011 | 2012 | 2013 | 2014 | ||||||||||||||||||
---------------------------------------------Millions of Dollars----------------------------------------------- | |||||||||||||||||||||||
EARNINGS AS DEFINED IN ITEM 503 OF REGULATION S-K: | |||||||||||||||||||||||
Earnings Before Income Taxes | $ | 2,604 | $ | 3,066 | $ | 3,487 | $ | 3,748 | $ | 2,560 | $ | 1,493 | |||||||||||
Interest expense, net of amounts capitalized | 907 | 898 | 858 | 861 | 826 | 417 | |||||||||||||||||
Interest component of rental expense | 94 | 112 | 117 | 98 | 97 | 49 | |||||||||||||||||
Amortization of capitalized interest | 3 | 3 | 3 | 5 | 2 | 2 | |||||||||||||||||
AFUDC - Debt funds | 82 | 74 | 58 | 62 | 77 | 42 | |||||||||||||||||
Less: Dividends on preferred and preference stock of subsidiaries | (65 | ) | (65 | ) | (65 | ) | (65 | ) | (66 | ) | (34 | ) | |||||||||||
Earnings as defined | $ | 3,625 | $ | 4,088 | $ | 4,458 | $ | 4,709 | $ | 3,496 | $ | 1,969 | |||||||||||
FIXED CHARGES AS DEFINED IN ITEM 503 OF REGULATION S-K: | |||||||||||||||||||||||
Interest on long-term debt | $ | 876 | $ | 885 | $ | 872 | $ | 857 | $ | 817 | $ | 405 | |||||||||||
Interest on affiliated loans | 22 | 19 | 16 | 8 | 7 | 3 | |||||||||||||||||
Interest on interim obligations | 4 | 2 | 3 | 4 | 5 | 2 | |||||||||||||||||
Amortization of debt discount, premium and expense, net | 40 | 42 | 40 | 40 | 46 | 23 | |||||||||||||||||
Other interest charges | 46 | 24 | (15 | ) | 14 | 29 | 25 | ||||||||||||||||
Capitalized interest | 2 | 12 | 20 | 20 | 14 | 5 | |||||||||||||||||
Interest component of rental expense | 94 | 112 | 117 | 98 | 98 | 49 | |||||||||||||||||
Fixed charges as defined | 1,084 | 1,096 | 1,053 | 1,041 | 1,016 | 512 | |||||||||||||||||
Tax deductible preferred dividends | 1 | 1 | 1 | 1 | 1 | 1 | |||||||||||||||||
1,085 | 1,097 | 1,054 | 1,042 | 1,017 | 513 | ||||||||||||||||||
Non-tax deductible preferred and preference dividends | 64 | 64 | 64 | 64 | 65 | 33 | |||||||||||||||||
Ratio of net income before taxes to net income | x | 1.525 | x | 1.503 | x | 1.538 | x | 1.552 | x | 1.497 | x | 1.499 | |||||||||||
Preferred and preference dividend requirements before income taxes | 98 | 96 | 98 | 99 | 97 | 50 | |||||||||||||||||
Fixed charges plus preferred and preference dividend requirements | $ | 1,183 | $ | 1,193 | $ | 1,152 | $ | 1,141 | $ | 1,114 | $ | 563 | |||||||||||
RATIO OF EARNINGS TO FIXED CHARGES | 3.06 | 3.43 | 3.87 | 4.13 | 3.14 | 3.50 | |||||||||||||||||