Attached files
| file | filename |
|---|---|
| EX-4.3 - EXHIBIT 4.3 - SOUTHERN Co GAS | sogas8k2017asrnotesex4-3.htm |
| EX-8.1 - EXHIBIT 8.1 - SOUTHERN Co GAS | sogas8k2017asrnotesex8-1.htm |
| EX-5.2 - EXHIBIT 5.2 - SOUTHERN Co GAS | sogas8k2017asrnotesex5-2.htm |
| EX-5.1 - EXHIBIT 5.1 - SOUTHERN Co GAS | sogas8k2017asrnotesex5-1.htm |
| EX-4.1 - EXHIBIT 4.1 - SOUTHERN Co GAS | sogas8k2017asrnotesex4-1.htm |
| EX-1.1 - EXHIBIT 1.1 - SOUTHERN Co GAS | sogas8k2017asrnotesex1-1.htm |
| 8-K - 8-K - SOUTHERN Co GAS | sogas8k2017asrnotes.htm |
Exhibit 12.1
Southern Company Gas
Computation of Ratio of Earnings to Fixed Charges
Predecessor | Successor | ||||||||||||||||||||
Year Ended December 31, | January 1, 2016 through June 30, | July 1, 2016 through December 31, | Three Months Ended March 31, | ||||||||||||||||||
Dollars in millions | 2012 | 2013 | 2014 | 2015 | 2016 | 2016 | 2017 | ||||||||||||||
Earnings from continuing operations before income taxes (1) | $ | 418 | $ | 482 | $ | 922 | $ | 580 | $ | 231 | $ | 129 | $ | 349 | |||||||
Add: | |||||||||||||||||||||
Fixed charges (see "B" below) | 202 | 189 | 188 | 184 | 101 | 89 | 50 | ||||||||||||||
Amortization of capitalized interest (2) | — | — | — | — | — | — | — | ||||||||||||||
Distributed income of equity investees | 13 | 3 | 8 | 6 | 2 | 60 | 39 | ||||||||||||||
Less: | |||||||||||||||||||||
Interest capitalized (2) | 1 | — | — | 2 | 2 | — | — | ||||||||||||||
Noncontrolling interest in pre-tax income of subsidiaries that have not incurred fixed charges | 15 | 18 | 18 | 20 | 14 | — | — | ||||||||||||||
Adjusted earnings (A) | $ | 617 | $ | 656 | $ | 1,100 | $ | 748 | $ | 318 | $ | 278 | $ | 438 | |||||||
Fixed charges: | |||||||||||||||||||||
Interest on long-term debt | $ | 177 | $ | 182 | $ | 185 | $ | 176 | $ | 94 | $ | 81 | $ | 43 | |||||||
Other interest, including amortized premiums, discounts and capitalized expenses related to indebtedness liability | 12 | (5 | ) | (4 | ) | 2 | 4 | 4 | 6 | ||||||||||||
Estimated interest components of rentals | 13 | 12 | 7 | 6 | 3 | 4 | 1 | ||||||||||||||
Total fixed charges (B) | $ | 202 | $ | 189 | $ | 188 | $ | 184 | $ | 101 | $ | 89 | $ | 50 | |||||||
Ratio of earnings to fixed charges (A)/(B) | 3.05 | 3.47 | 5.85 | 4.07 | 3.15 | 3.13 | 8.71 | ||||||||||||||
(1) | Excludes distributed income of equity investees. |
(2) | Includes interest capitalized and related amortization for non-regulated segments. |