EX-12.2 3 exhibit12_2.htm EXHIBIT 12.2 UE COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES exhibit12_2.htm
 Exhibit 12.2
 
Union Electric Company
Computation of Ratios of Earnings to Fixed Charges and Combined
Fixed Charges and Preferred Stock Dividend Requirements
(Thousands of Dollars, Except Ratios)
  
           
           
 
9 Months Ended
    
Year Ended
  
 
September 30,
    
December 31,
  
 
2007
    
2006
  
Net income from continuing operations
 $
308,200
     $
348,806
  
Less- Income from equity investee
  
39,769
      
54,285
  
Add- Taxes based on income
  
131,993
      
183,867
  
               
Net income before income taxes and income from equity
investee
  
400,424
      
478,388
  
               
Add- fixed charges:
              
Interest on long term debt
  
153,092
 (1)    
176,088
  
Estimated interest cost within rental expense
  
1,761
      
2,754
  
Amortization of net debt premium, discount,
     and expenses
  
4,182
      
5,468
  
Total fixed charges
  
159,035
      
184,310
  
               
Earnings available for fixed charges
  
559,459
      
662,698
  
               
Ratio of earnings to fixed charges
  
3.51
      
3.59
  
               
Earnings required for combined fixed
charges and preferred stock dividends:
          
Preferred stock dividends
  
4,456
      
5,941
  
Adjustment to pre-tax basis
  
1,908
      
3,244
  
   
6,364
      
9,185
  
               
Combined fixed charges and preferred stock
dividend requirements
 $
165,399
     $
193,495
  
               
Ratio of earnings to combined fixed charges
     and preferred stock dividend requirements
  
3.38
      
3.42
  
 
(1)  Includes FIN 48 interest expense