EX-12.7 8 dex127.htm IP'S STATEMENT OF COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES IP's Statement of Computation of Ratio of Earnings to Fixed Charges

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)

 

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

Net income from continuing operations

    $ 13,834    $ 4,970

Add- Taxes based on income

      9,222      4,746
             

Net income before income taxes

      23,056      9,716

Add- fixed charges:

      

Interest on long term debt (1)

      25,070      91,143

Estimated interest cost within rental expense

      386      701

Amortization of net debt premium, discount, expenses and losses

      1,169      8,922
             

Total fixed charges

      26,625      100,766
             

Earnings available for fixed charges

      49,681      110,482
             

Ratio of earnings to fixed charges

      1.86      1.09
             

Earnings required for combined fixed charges and preferred stock dividends:

      

Preferred stock dividends

      574      2,294

Adjustment to pretax basis

      382      2,191
             
     956      4,485
             

Combined fixed charges and preferred stock dividend requirements

    $ 27,581    $ 105,251
             

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

      1.80      1.04
             

 

(1)

Includes FIN 48 interest expense