EX-12.3 4 dex123.htm CIPS' STATEMENT OF COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES CIPS' Statement of Computation of Ratio of Earnings to Fixed Charges

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)

 

     Three Months Ended
March 31,
2009		    Year Ended
      December 31,      
2008

Net income from continuing operations

    $ 6,838    $ 14,739

Add- Taxes based on income

      3,518      5,199
             

Net income before income taxes

      10,356      19,938

Add- fixed charges:

      

Interest on long term debt (1)

      6,949      29,422

Estimated interest cost within rental expense

      264      760

Amortization of net debt premium, discount, and expenses

      252      1,024
             

Total fixed charges

      7,465      31,206
             

Earnings available for fixed charges

      17,821      51,144
             

Ratio of earnings to fixed charges

      2.38      1.63
             

Earnings required for combined fixed charges and preferred stock dividends:

      

Preferred stock dividends

      628      2,512

Adjustment to pretax basis

      323      886
             
     951      3,398
             

Combined fixed charges and preferred stock dividend requirements

    $ 8,416    $ 34,604
             

Ratio of earnings to combined fixed charges and preferred stock dividend requirements

      2.11      1.47
             

 

(1)

Includes FIN 48 interest expense