Attached files
| file | filename |
|---|---|
| 10-Q - FORM 10-Q - SOUTHERN Co GAS | q2-2016x10xq.htm |
| EX-32.2 - EXHIBIT 32.2 - SOUTHERN Co GAS | q22016ex322.htm |
| EX-32.1 - EXHIBIT 32.1 - SOUTHERN Co GAS | q22016ex321.htm |
| EX-31.2 - EXHIBIT 31.2 - SOUTHERN Co GAS | q22016ex312.htm |
| EX-31.1 - EXHIBIT 31.1 - SOUTHERN Co GAS | q22016ex311.htm |
Exhibit 12
Southern Company Gas
Statement Setting Forth Ratio of Earnings to Fixed Charges
Six months ended June 30, | Fiscal | Fiscal | Fiscal | Fiscal | Fiscal | |||||||||||||
Dollars in millions | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | ||||||||||||
Earnings from continuing operations before income taxes (1) | $ | 231 | $ | 580 | $ | 922 | $ | 482 | $ | 418 | $ | 300 | ||||||
Add: | ||||||||||||||||||
Fixed charges (see “B” below) | 101 | 184 | 188 | 189 | 202 | 146 | ||||||||||||
Amortization of capitalized interest (2) | — | — | — | — | — | 1 | ||||||||||||
Distributed income of equity investees | 2 | 6 | 8 | 3 | 13 | — | ||||||||||||
Less: | ||||||||||||||||||
Interest capitalized (2) | 2 | 2 | — | — | 1 | 1 | ||||||||||||
Noncontrolling interest in pre-tax income of subsidiaries that have not incurred fixed charges | 14 | 20 | 18 | 18 | 15 | 14 | ||||||||||||
Adjusted earnings (A) | $ | 318 | $ | 748 | $ | 1,100 | $ | 656 | $ | 617 | $ | 432 | ||||||
Fixed charges | ||||||||||||||||||
Interest on long-term debt | $ | 94 | $ | 176 | $ | 185 | $ | 182 | $ | 177 | $ | 101 | ||||||
Other interest, including amortized premiums, discounts and capitalized expenses related to indebtedness liability | 4 | 2 | (4 | ) | (5 | ) | 12 | 38 | ||||||||||
Estimated interest components of rentals | 3 | 6 | 7 | 12 | 13 | 7 | ||||||||||||
Total fixed charges (B) | $ | 101 | $ | 184 | $ | 188 | $ | 189 | $ | 202 | $ | 146 | ||||||
Ratio of earnings to fixed charges (A)/(B) | 3.15 | 4.07 | 5.85 | 3.47 | 3.05 | 2.96 | ||||||||||||
(1) | Excludes distributed income of equity investees. |
(2) | Includes interest capitalized and related amortization for our nonregulated segments. |