EX-12.2 3 aee-exhibit122.htm RATIO OF EARNINGS TO FIXED CHARGES Exhibit


Exhibit 12.2
Union Electric Company
Computation of Ratio of Earnings to Fixed Charges and Combined
Fixed Charges and Preferred Stock Dividend Requirements
(Thousands of Dollars, Except Ratios)


 
Nine Months Ended September 30,
 
2015(a)
Earnings available for fixed charges, as defined:
 
Net income
$
343,511

Tax expense based on income
205,647

Fixed charges
176,341

Earnings available for fixed charges, as defined
$
725,499

Fixed charges, as defined:
 
Interest expense on short-term and long-term debt
$
168,156

Estimated interest cost within rental expense
3,386

Amortization of net debt premium, discount, and expenses
4,799

Total fixed charges, as defined
$
176,341

Ratio of earnings to fixed charges
4.11

Earnings required for combined fixed charges and preferred stock dividends:
 
Preferred stock dividends
$
2,565

Adjustment to pretax basis
1,536

 
$
4,101

 
 
Combined fixed charges and preferred stock dividend requirements
$
180,442

Ratio of earnings to combined fixed charges and preferred stock dividend requirements
4.02



(a)
Includes a $69 million provision for Callaway construction and operating license recorded in the second quarter of 2015. See Note 2 - Rate and Regulatory Matters under Part I, Item 1, of this report for additional information.