EX-12.7 10 ex12_7.htm IP STATEMENT OF COMPUTATION IP Statement of Computation
Exhibit 12.7
Illinois Power Company
Computation Of Ratio Of Earnings To Fixed Charges And Preferred Stock Dividend Requirements
(Thousands of Dollars, Except Ratios)
                       
                       
   
Year Ended December 31,
   
2000
  
2001
  
2002
  
2003
  
2004 (1)
  
                       
                                 
                                 
                                 
Net Income
  
$
136,656
  
$
168,473
  
$
162,989
  
$
121,701
  
$
137,538
  
Add- Extraordinary items net of tax
    
-
   
-
   
-
   
-
   
-
 
Net income from continuing operations
    
136,656
   
168,473
   
162,989
   
121,701
   
137,538
 
                                 
Taxes based on income
    
83,296
   
117,221
   
104,209
   
76,023
   
87,591
 
                                 
Net income before income taxes
    
219,952
   
285,694
   
267,198
   
197,724
   
225,129
 
                                 
                                 
                                 
Add- fixed charges:
                                
Interest on long term debt
    
115,329
   
104,861
   
94,738
   
146,045
   
112,616
 
Other interest
    
-
   
-
   
-
   
-
   
-
 
Estimated interest cost within rental expense
    
3,285
   
2,250
   
2,442
   
1,895
   
1,696
 
Amortization of net debt premium, discount,
                               
expenses and losses
    
23,795
   
18,638
   
18,135
   
17,751
   
18,772
 
                                 
Total fixed charges
    
142,409
   
125,749
   
115,315
   
165,691
   
133,084
 
                                 
Earnings available for fixed charges
  
$
362,361
  
$
411,443
  
$
382,513
  
$
363,415
  
$
358,213
  
                                 
Ratio of earnings to fixed charges
    
2.54
   
3.27
   
3.31
   
2.19
   
2.69
 
                                 
                                 
Earnings required for preferred dividends:
                                
Preferred stock dividends
    
1,721
   
2,294
   
2,294
   
2,294
   
2,294
 
Adjustment to pre-tax basis
    
1,050
   
1,597
   
1,466
   
1,434
   
1,461
 
     
2,771
   
3,891
   
3,760
   
3,728
   
3,755
 
                                 
Fixed charges plus preferred stock dividend
                                
requirements
  
$
145,180
  
$
129,640
  
$
119,075
  
$
169,419
  
$
136,839
  
                                 
Ratio of earnings to fixed charges plus
                                
preferred stock dividend requirements
    
2.49
   
3.17
   
3.21
   
2.14
   
2.61
 
                                 
 

(1) Ameren Corporation purchased Illinois Power Company on September 30, 2004, amounts include combined predecessor and successor financial information.