EX-12.2 3 dex122.htm RATIO OF EARNINGS TO FIXED CHARGES Ratio of Earnings to Fixed Charges

Exhibit 12.2

Union Electric Company

Computation of Ratio of Earnings to Fixed Charges and Combined

Fixed Charges and Preferred Stock Dividend Requirements

(Thousands of Dollars, Except Ratios)

 

     Three Months Ended
March  31,

2010
   Year Ended
       December 31,        

2009

Net income from continuing operations

   $ 28,956       $ 265,020   

Add- Taxes based on income

     21,649         127,982   
             

Net income before income taxes and income from equity investee

     50,605         393,002   

Add- fixed charges:

     

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

     63,240         245,272   

Estimated interest cost within rental expense

     784         3,542   

Amortization of net debt premium, discount, and expenses

     1,682         6,686   
             

Total fixed charges

     65,706         255,500   
             

Earnings available for fixed charges

     116,311         648,502   
             

Ratio of earnings to fixed charges

     1.77         2.53   
             

Earnings required for combined fixed charges and preferred stock dividends:

     

Preferred stock dividends

     1,485         5,941   

Adjustment to pretax basis

     1,111         2,869   
             
     2,596         8,810   
             

Combined fixed charges and preferred stock dividend requirements

   $ 68,302       $ 264,310   
             

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

     1.70         2.45   
             

 

(a)

Includes interest expense related to uncertain tax positions.