EX-12.7 13 exhibit12_7.htm EXHIBIT 12.7- IP COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES exhibit12_7.htm
Exhibit 12.7

Illinois Power 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
 $ (7,120 )   $ 25,780  
Add- Taxes based on income
   (5,072 )     15,341  
Net income before income taxes
   (12,192 )     41,121  
               
Add- fixed charges:
              
Interest on long term debt (1)
   45,178       69,085  
Estimated interest cost within rental expense
   449       234  
Amortization of net debt premium, discount,
expenses and losses
   4,502       8,454  
Total fixed charges
   50,129       77,773  
               
Earnings available for fixed charges
   37,937       118,894  
               
Ratio of earnings to fixed charges
   0.75       1.52  
               
Earnings required for combined fixed
charges and preferred stock dividends:
        
Preferred stock dividends
   1,147       2,294  
Adjustment to pre-tax basis
   817       1,365  
    1,964       3,659  
               
Combined fixed charges and preferred stock
dividend requirements   
$ 52,093     $ 81,432  
               
Ratio of earnings to combined fixed charges
and preferred stock dividend requirements
   -
(2) 
     1.46  
               
(1)  Includes FIN 48 interest expense
              
(2) Earnings were inadequate to cover fixed charges by $14,156,000 for the six months ended June 30, 2008.