EX-12.2 8 exhibit12_2.htm EXHIBIT 12.2 - UE COMPUTATION OF RATIOS 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)
  
           
           
 
6 Months Ended 
    
Year Ended 
  
 
June 30,
    
December, 31
  
 
2008
    
2007
  
Net income from continuing operations
 $ 188,423     $ 341,966  
Less- Income from equity investee
   10,948       54,545  
Add- Taxes based on income
   99,092       139,782  
Net income before income taxes and income from equity
investee
   276,567       427,203  
               
Add- fixed charges:
              
Interest on long term debt (1)
   96,307       203,456  
Estimated interest cost within rental expense
   1,643       2,540  
Amortization of net debt premium, discount,
     and expenses
   2,955       5,634  
Total fixed charges
   100,905       211,630  
               
Earnings available for fixed charges
   377,472       638,833  
               
Ratio of earnings to fixed charges
   3.74       3.01  
               
Earnings required for combined fixed
charges and preferred stock dividends:
        
Preferred stock dividends
   2,971       5,941  
Adjustment to pre-tax basis
   1,562       2,429  
    4,533       8,370  
               
Combined fixed charges and preferred stock
dividend requirements
 $ 105,438     $ 220,000  
               
Ratio of earnings to combined fixed charges
and preferred stock dividend requirements
   3.58       2.90  
               
(1)  Includes FIN 48 interest expense