Attached files
| file | filename |
|---|---|
| 8-K - 8-K - GULF POWER CO | gulf8-k2014a9x14.htm |
| EX-1.3 - EXHIBIT - GULF POWER CO | gulf8-k2014aex1x3.htm |
| EX-4.2 - EXHIBIT - GULF POWER CO | gulf8-k2014aex4x2.htm |
| EX-5.2 - EXHIBIT - GULF POWER CO | gulf8-k2014aex5x2.htm |
Exhibit 12.1 | |||||||||||||||||
GULF POWER 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 | ||||||||||||||||||
--------------------------------------------Thousands of Dollars-------------------------------------------- | |||||||||||||||||||||||
EARNINGS AS DEFINED IN ITEM 503 OF REGULATION S-K: | |||||||||||||||||||||||
Earnings Before Income Taxes | $ | 170,461 | $ | 199,227 | $ | 172,475 | $ | 211,346 | 211,801 | $ | 120,059 | ||||||||||||
Interest expense, net of amounts capitalized | 38,358 | 51,897 | 58,150 | 60,250 | 56,025 | 26,558 | |||||||||||||||||
Interest component of rental expense | 6,778 | 15,984 | 15,655 | 14,892 | 12,888 | 6,215 | |||||||||||||||||
AFUDC - Debt funds | 9,489 | 2,875 | 3,951 | 2,500 | 3,421 | 2,271 | |||||||||||||||||
Earnings as defined | $ | 225,086 | $ | 269,983 | $ | 250,231 | $ | 288,988 | $ | 284,135 | $ | 155,103 | |||||||||||
FIXED CHARGES AS DEFINED IN ITEM 503 OF REGULATION S-K: | |||||||||||||||||||||||
Interest on long-term debt | $ | 42,166 | $ | 49,298 | $ | 56,677 | $ | 57,942 | 55,386 | $ | 26,990 | ||||||||||||
Interest on affiliated loans | 80 | 108 | 130 | 172 | 222 | 97 | |||||||||||||||||
Interest on interim obligations | 701 | 37 | 197 | 100 | 185 | — | |||||||||||||||||
Amortization of debt discount, premium and expense, net | 2,890 | 2,918 | 2,686 | 2,602 | 2,582 | 1,286 | |||||||||||||||||
Other interest charges | 2,010 | 2,410 | 2,411 | 1,933 | 1,070 | 456 | |||||||||||||||||
Interest component of rental expense | 6,778 | 15,984 | 15,655 | 14,892 | 12,888 | 6,215 | |||||||||||||||||
Fixed charges as defined | $ | 54,625 | $ | 70,755 | $ | 77,756 | $ | 77,641 | $ | 72,333 | $ | 35,044 | |||||||||||
RATIO OF EARNINGS TO FIXED CHARGES | 4.12 | 3.82 | 3.22 | 3.72 | 3.93 | 4.43 | |||||||||||||||||