EX-12.5 6 dex125.htm CILCORP'S STATEMENT OF COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES CILCORP's Statement of Computation of Ratio of Earnings to Fixed Charges

Exhibit 12.5

CILCORP INC.

Computation of Ratio of Earnings to Fixed Charges

(Thousands of Dollars, Except Ratios)

 

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

Net income (loss) from continuing operations

    $ (379,652)      $ 43,542

Add- Taxes based on income

     42,484         19,411
             

Net income (loss) before income taxes

      (337,168)        62,953

Add- fixed charges:

      

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

      54,188         53,592

Estimated interest cost within rental expense

      687         430

Amortization of net debt premium, discount, and expenses

      1,322         1,428

Subsidiary preferred stock dividends

      654         1,354

Adjust preferred stock dividends to pretax basis

      (73)        604
             

Total fixed charges

      56,778         57,408
             

Less: Adjustment of preferred stock dividends to pretax basis

      (73)        604
             

Earnings (loss) available for fixed charges

    $ (280,317)      $ 119,757
             

Ratio of earnings to fixed charges

      -(2)      2.08
             

 

(1)

Includes FIN 48 interest expense

(2)

Earnings are inadequate to cover fixed charges by $337.1 million for the nine months ended September 30, 2009. In the first quarter of 2009, CILCORP recorded a goodwill impairment charge of $462 million. See note 14 - Goodwill Impairment of this Form 10Q for additional information.