EX-12.3 4 exhibit12_3.htm EXHIBIT 12.3 CIPS COMPUTATION OF RATIO 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)
  
           
           
 
9 Months Ended
    
Year Ended
  
 
September 30,
    
December 31,
  
 
2007
    
2006
  
Net income from continuing operations
 $
18,955
     $
37,372
  
Add- Taxes based on income
  
10,806
      
15,539
  
               
Net income before income taxes
  
29,761
      
52,911
  
               
Add- fixed charges:
              
Interest on long term debt
  
27,446
 (1)    
29,932
  
Estimated interest cost within rental expense
  
656
      
726
  
Amortization of net debt premium, discount,
and expenses
  
849
      
1,025
  
Total fixed charges
  
28,951
      
31,683
  
               
Earnings available for fixed charges
  
58,712
      
84,594
  
               
Ratio of earnings to fixed charges
  
2.02
      
2.67
  
               
Earnings required for combined fixed
charges and preferred stock dividends:
          
Preferred stock dividends
  
1,884
      
2,512
  
Adjustment to pre-tax basis
  
1,074
      
1,045
  
   
2,958
      
3,557
  
               
Combined fixed charges and preferred stock
dividend requirements
 $
31,909
     $
35,240
  
               
Ratio of earnings to combined fixed charges
and preferred stock dividend requirements
  
1.83
      
2.40
  
 
(1)  Includes FIN 48 interest expense