EX-12.2 3 cips12-2.txt CIPS COMPUTATION OF RATIO OF EARNINGS Exhibit 12.2 CENTRAL ILLINOIS PUBLIC SERVICE COMPANY COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES AND PREFERRED STOCK DIVIDEND REQUIREMENTS (Millions of Dollars, Except Ratios)
Year Ended December 31, ---------------------------------------------------------------- 1998 1999 2000 2001 2002 ---- ---- ---- ---- ---- Thousands of Dollars Except Ratios Net Income $80 $54 $79 $46 $26 Add- Extraordinary items net of tax - - - - - ------------ ---------- ---------- ---------- --------- Net income from continuing operations 80 54 79 46 26 Taxes based on income 45 31 44 27 17 ------------ ---------- ---------- ---------- --------- Net income before income taxes 125 85 123 73 43 ------------ ---------- ---------- ---------- --------- Add- fixed charges: Interest on long term debt 37 38 29 34 39 Other interest 2 4 8 4 1 Amortization of net debt premium, discount, expenses and losses 1 1 3 1 1 ------------ ---------- ---------- ---------- --------- Total fixed charges 40 43 40 39 41 ------------ ---------- ---------- ---------- --------- Earnings available for fixed charges 165 128 163 112 84 ============ ========== ========== ========== ========= Ratio of earnings to fixed charges 4.13 2.98 4.05 2.87 2.06 ============ ========== ========== ========== ========= Earnings required for preferred dividends: Preferred stock dividends 4 4 4 4 3 Adjustment to pre-tax basis 2 2 2 2 2 ------------ ---------- ---------- ---------- --------- 6 6 6 6 5 Fixed charges plus preferred stock dividend requirements 46 49 46 45 46 ============ ========== ========== ========== ========= Ratio of earnings to fixed charges plus preferred stock dividend requirements 3.60 2.61 3.52 2.49 1.83 ============ ========== ========== ========== =========