MISSISSIPPI POWER CO - FORM 8-K - EX-12.1 - EXHIBIT 12.1 - March 27, 2018

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EX-8.1B - EXHIBIT 8.1B - MISSISSIPPI POWER COx8-1bms8k2018a2018b.htm
EX-8.1A - EXHIBIT 8.1A - MISSISSIPPI POWER COx8-1ams8k2018a2018b.htm
EX-5.1B - EXHIBIT 5.1B - MISSISSIPPI POWER COx5-1bms8k2018a2018b.htm
EX-5.1A - EXHIBIT 5.1A - MISSISSIPPI POWER COx5-1ams8k2018a2018b.htm
EX-4.2B - EXHIBIT 4.2B - MISSISSIPPI POWER COms15thsupind2018b-3x18.htm
EX-4.2A - EXHIBIT 4.2A - MISSISSIPPI POWER COms14thsupind2018a-3x18.htm
EX-1.3B - EXHIBIT 1.3B - MISSISSIPPI POWER COx1-3bms8k2018a2018b.htm
EX-1.3A - EXHIBIT 1.3A - MISSISSIPPI POWER COx1-3ams8k2018a2018b.htm
8-K - 8-K - MISSISSIPPI POWER COms8-k2018a2018bsrnotesx3x18.htm


Exhibit 12.1
MISSISSIPPI POWER COMPANY
Computation of ratio of earnings to fixed charges for
the five years ended December 31, 2017
 
 
 
 
 
2013
 
 
2014
 
 
2015
 
 
2016
 
 
2017
 
---------------------------------------------Millions of Dollars---------------------------------------------
EARNINGS AS DEFINED IN ITEM 503 OF REGULATION S-K:
 
 
 
 
 
 
 
 
 
 
Earnings Before Income Taxes
$
(843
)
 
$
(612
)
 
$
(78
)
 
$
(152
)
 
$
(3,120
)
Interest expense, net of amounts capitalized
 
37

 
 
45

 
 
7

 
 
74

 
 
42

Interest component of rental expense
 
3

 
 
4

 
 
2

 
 
1

 
 
1

AFUDC - Debt funds
 
49

 
 
44

 
 
44

 
 
44

 
 
24

Earnings as defined
$
(754
)
 
$
(519
)
 
$
(25
)
 
$
(33
)
 
$
(3,053
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
FIXED CHARGES AS DEFINED IN ITEM 503 OF REGULATION S-K:
Interest on long-term debt
$
67

 
$
68

 
$
67

 
$
77

 
$
78

Interest on affiliated loans
 
—

 
 
1

 
 
3

 
 
13

 
 
7

Interest on interim obligations
 
—

 
 
—

 
 
—

 
 
1

 
 
—

Amortization of debt discount, premium and expense, net
 
1

 
 
1

 
 
1

 
 
1

 
 
2

Other interest charges
 
23

 
 
44

 
 
2

 
 
31

 
 
(16
)
Interest component of rental expense
 
3

 
 
4

 
 
2

 
 
1

 
 
1

Fixed charges as defined
$
94

 
$
118

 
$
75

 
$
124

 
$
72

RATIO OF EARNINGS TO FIXED CHARGES(*)
 
N/A
 
 
N/A
 
 
N/A
 
 
N/A
 
 
N/A
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Deficiency of Earnings to Cover Fixed Charges
$
848

 
$
637

 
$
100

 
$
157

 
$
3,125

(*)
As a result of losses incurred on the Kemper County Integrated Coal Gasification Combined Cycle Project, earnings before income taxes were negative for the years 2013 through 2017.