Attached files
| file | filename |
|---|---|
| EX-8.1 - EXHIBIT 8.1 - SOUTHERN CO | so2016ajsn8kex8-1.htm |
| EX-5.1 - EXHIBIT 5.1 - SOUTHERN CO | so2016ajsn8kex5-1.htm |
| EX-4.4 - EXHIBIT 4.4 - SOUTHERN CO | so2016ajsn8kex4-4.htm |
| EX-1.3 - EXHIBIT 1.3 - SOUTHERN CO | so2016ajsn8kex1-3.htm |
| 8-K - 8-K - SOUTHERN CO | so2016ajsn8-k.htm |
Exhibit 12.1 | |||||||||||||||||
THE SOUTHERN COMPANY | |||||||||||||||||
Computation of ratio of earnings to fixed charges for | |||||||||||||||||
the five years ended December 31, 2015 | |||||||||||||||||
and the year to date June 30, 2016 | |||||||||||||||||
Year ended December 31, | Six Months Ended June 30, | ||||||||||||||||||||||
2011 | 2012 | 2013 | 2014 | 2015 | 2016 | ||||||||||||||||||
---------------------------------------------Millions of Dollars----------------------------------------------- | |||||||||||||||||||||||
EARNINGS AS DEFINED IN ITEM 503 OF REGULATION S-K: | |||||||||||||||||||||||
Earnings Before Income Taxes | $ | 3,487 | $ | 3,748 | $ | 2,560 | $ | 3,007 | $ | 3,614 | $ | 1,614 | |||||||||||
Interest expense, net of amounts capitalized | 858 | 861 | 826 | 835 | 842 | 540 | |||||||||||||||||
Interest component of rental expense | 117 | 98 | 97 | 113 | 127 | 64 | |||||||||||||||||
Amortization of capitalized interest | 3 | 5 | 2 | 5 | 5 | 2 | |||||||||||||||||
AFUDC - Debt funds | 58 | 62 | 77 | 86 | 88 | 38 | |||||||||||||||||
Less: Dividends on preferred and preference stock of subsidiaries | (65 | ) | (65 | ) | (66 | ) | (68 | ) | (54 | ) | (23 | ) | |||||||||||
Earnings as defined | $ | 4,458 | $ | 4,709 | $ | 3,496 | $ | 3,978 | $ | 4,622 | $ | 2,235 | |||||||||||
FIXED CHARGES AS DEFINED IN ITEM 503 OF REGULATION S-K: | |||||||||||||||||||||||
Interest on long-term debt | $ | 872 | $ | 857 | $ | 817 | $ | 824 | $ | 881 | $ | 536 | |||||||||||
Interest on affiliated loans | 16 | 8 | 7 | 7 | 7 | 4 | |||||||||||||||||
Interest on interim obligations | 3 | 4 | 5 | 4 | 9 | 17 | |||||||||||||||||
Amortization of debt discount, premium and expense, net | 40 | 40 | 46 | 46 | 48 | 26 | |||||||||||||||||
Other interest charges | (15 | ) | 14 | 29 | 42 | (15 | ) | (5 | ) | ||||||||||||||
Capitalized interest | 20 | 20 | 14 | 25 | 36 | 23 | |||||||||||||||||
Interest component of rental expense | 117 | 98 | 98 | 111 | 127 | 63 | |||||||||||||||||
Fixed charges as defined | 1,053 | 1,041 | 1,016 | 1,059 | 1,093 | 664 | |||||||||||||||||
Tax deductible preferred dividends | 1 | 1 | 1 | 1 | 1 | 1 | |||||||||||||||||
1,054 | 1,042 | 1,017 | 1,060 | 1,094 | 665 | ||||||||||||||||||
Non-tax deductible preferred and preference dividends | 64 | 64 | 65 | 67 | 52 | 22 | |||||||||||||||||
Ratio of net income before taxes to net income | x | 1.538 | x | 1.552 | x | 1.497 | x | 1.481 | x | 1.493 | x | 1.441 | |||||||||||
Preferred and preference dividend requirements before income taxes | 98 | 99 | 97 | 99 | 78 | 32 | |||||||||||||||||
Fixed charges plus preferred and preference dividend requirements | $ | 1,152 | $ | 1,141 | $ | 1,114 | $ | 1,159 | $ | 1,172 | $ | 697 | |||||||||||
RATIO OF EARNINGS TO FIXED CHARGES | 3.87 | 4.13 | 3.14 | 3.43 | 3.94 | 3.21 | |||||||||||||||||