EX-12.3 4 dex123.htm RATIO OF EARNINGS TO FIXED CHARGES Ratio of Earnings to Fixed Charges

Exhibit 12.3

Central Illinois Public Service Company

Computation of Ratio of Earnings to Fixed Charges and Combined

Fixed Charges and Preferred Stock Dividend Requirements

(Thousands of Dollars, Except Ratios)

 

     Six Months Ended
June  30,
2010		    Year Ended
December 31,
2009

Net income from continuing operations

    $ 23,121       $         28,897   

Add- Taxes based on income

      16,067         16,265   
             

Net income before income taxes

      39,188         45,162   

Add- fixed charges:

      

Interest on short-term and long-term debt (1)

      13,479         28,315   

Estimated interest cost within rental expense

      592         1,216   

Amortization of net debt premium, discount, and expenses

      378         881   
             

Total fixed charges

      14,449         30,412   
             

Earnings available for fixed charges

      53,637         75,574   
             

Ratio of earnings to fixed charges

      3.71         2.48   
             

Earnings required for combined fixed charges and preferred stock dividends:

      

Preferred stock dividends

      1,256         2,512   

Adjustment to pretax basis

      873         1,414   
             
     2,129         3,926   
             

Combined fixed charges and preferred stock dividend requirements

    $ 16,578       $ 34,338   
             

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

      3.23         2.20   
             

 

(1)

Includes interest expense related to uncertain tax positions