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 Ratio of Earnings to Fixed Charges and Combined

Fixed Charges and Preferred Stock Dividend Requirements

(Thousands of Dollars, Except Ratios)

 

     Nine Months Ended
September 30,
2009		    Year Ended
December 31,
2008

Net income from continuing operations

    $ 25,735    $ 14,739

Add- Taxes based on income

      13,908      5,199
             

Net income before income taxes

      39,643      19,938

Add- fixed charges:

      

Interest on short-term and long-term debt (1)

      20,966      29,422

Estimated interest cost within rental expense

      890      760

Amortization of net debt premium, discount, and expenses

      693      1,024
             

Total fixed charges

      22,549      31,206
             

Earnings available for fixed charges

      62,192      51,144
             

Ratio of earnings to fixed charges

      2.75      1.63
             

Earnings required for combined fixed charges and preferred stock dividends:

      

Preferred stock dividends

      1,884      2,512

Adjustment to pretax basis

      1,018      886
             
     2,902      3,398
             

Combined fixed charges and preferred stock dividend requirements

    $ 25,451    $ 34,604
             

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

      2.44      1.47
             

 

(1)

Includes FIN 48 interest expense