EX-12.3 5 exhibit12_3.htm EXHIBIT 12.3 CIPS COMPUTATION OF RATIOS OF EARNINGS 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)
  
           
           
 
3 Months Ended
  
Year Ended
  
 
March 31,
    
December 31,
  
 
2008
    
2007
  
Net income from continuing operations
 $ 2,899     $ 16,535  
Add- Taxes based on income
   1,135       9,322  
               
Net income before income taxes
   4,034       25,857  
               
Add- fixed charges:
              
Interest on long term debt  (1)
   6,741       36,670  
Estimated interest cost within rental expense
   90       899  
Amortization of net debt premium, discount,
     and expenses
   256       1,105  
Total fixed charges
   7,087       38,674  
               
Earnings available for fixed charges
   11,121       64,531  
               
Ratio of earnings to fixed charges
   1.56       1.66  
               
Earnings required for combined fixed
charges and preferred stock dividends:
        
Preferred stock dividends
   628       2,512  
Adjustment to pre-tax basis
   246       1,416  
    874       3,928  
               
Combined fixed charges and preferred stock
     dividend requirements
 $ 7,961     $ 42,602  
               
Ratio of earnings to combined fixed charges
     and preferred stock dividend requirements
   1.39       1.51  
               
               
(1)  Includes FIN 48 interest expense