EX-12.3 4 exhibit12_3.htm EXHIBIT 12.3 CIPS COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES exhibit12_3.htm
Exhibit 12.3
Central Illinois Public Service Company
Computation of Ratios of Earnings to Fixed Charges and Combined
Fixed Charges and Preferred Stock Dividend Requirements
(Thousands of Dollars, Except Ratios)
  
           
           
 
6 Months Ended
    
Year Ended
  
 
June 30,
    
December 31,
  
 
2007
    
2006
  
Net income from continuing operations
 $
16,640
     $
37,372
  
Add- Taxes based on income
  
8,605
      
15,539
  
Net income before income taxes
  
25,245
      
52,911
  
               
Add- fixed charges:
              
Interest on long term debt
  
17,817
      
29,932
  
Estimated interest cost within rental expense
  
423
      
726
  
Amortization of net debt premium, discount,
     and expenses
  
593
      
1,025
  
Total fixed charges
  
18,833
      
31,683
  
               
Earnings available for fixed charges
  
44,078
      
84,594
  
               
Ratio of earnings to fixed charges
  
2.34
      
2.67
  
               
Earnings required for combined fixed
charges and preferred stock dividends:
          
Preferred stock dividends
  
1,256
      
2,512
  
Adjustment to pre-tax basis
  
650
      
1,045
  
   
1,906
      
3,557
  
               
Combined fixed charges and preferred stock
dividend requirements
 $
20,739
     $
35,240
  
               
Ratio of earnings to combined fixed charges
and preferred stock dividend requirements
  
2.12
      
2.40