EX-12.7 8 c11768exv12w7.htm EXHIBIT 12.7 exv12w7
 

Exhibit 12.7
Illinois Power Company
Computation of Ratios of Earnings to Fixed Charges and Combined
Fixed Charges and Preferred Stock Dividend Requirements
(Thousands of Dollars, Except Ratios)
                                         
    Year Ended December 31,  
    2002     2003     2004 (1)     2005     2006  
Net income from continuing operations
  $ 162,989     $ 117,113     $ 137,538     $ 97,039     $ 56,659  
Less- Change in accounting principle
          (2,294 )                  
Less- Income from equity investee
                             
Add- Taxes based on income
    104,209       76,023       87,591       65,171       37,246  
 
                             
 
                                       
Net income before income taxes and change in accounting principle
    267,198       195,430       225,129       162,210       93,905  
 
                                       
Add- fixed charges:
                                       
Interest on long term debt
    94,738       146,045       112,616       41,028       46,167  
Estimated interest cost within rental expense
    2,442       1,895       1,696       1,290       205  
Amortization of net debt premium, discount, expenses and losses
    18,135       17,751       18,772       2,315       3,537  
 
                             
Total fixed charges
    115,315       165,691       133,084       44,633       49,909  
 
                             
 
                                       
Earnings available for fixed charges
    382,513       361,121       358,213       206,843       143,814  
 
                             
 
                                       
Ratio of earnings to fixed charges
    3.31       2.17       2.69       4.63       2.88  
 
                             
 
                                       
Earnings required for combined fixed charges and preferred stock dividends:
                                       
Preferred stock dividends
    2,294       2,294       2,294       2,294       2,294  
Adjustment to pre-tax basis
    1,466       1,434       1,461       1,542       1,508  
 
                             
 
    3,760       3,728       3,755       3,836       3,802  
 
                             
 
                                       
Combined fixed charges and preferred stock dividend requirements
  $ 119,075     $ 169,419     $ 136,839     $ 48,469     $ 53,711  
 
                             
 
                                       
Ratio of earnings to combined fixed charges and preferred stock dividend requirements
    3.21       2.13       2.61       4.26       2.67  
 
                             
 
(1)   Ameren Corporation purchased Illinois Power Company on September 30, 2004, amounts include combined predecessor and successor financial information.