EX-12.6 9 c23635exv12w6.htm EXEHIBIT 12.6 exv12w6
 

Exhibit 12.6
Central Illinois Light Company
Computation of Ratios of Earnings to Fixed Charges and Combined
Fixed Charges and Preferred Stock Dividend Requirements
(Thousands of Dollars, Except Ratios)
                                         
    Year Ended December 31,  
    2003     2004     2005     2006     2007  
Net income from continuing operations
  $ 44,883     $ 32,384     $ 25,296     $ 47,012     $ 75,984  
Less - Change in accounting principle
    24,080       -       (2,497 )     -       -  
Add - Taxes based on income
    11,905       5,450       16,357       9,966       39,195  
 
                             
 
Net income before income taxes and change in accounting principle
    32,708       37,834       44,150       56,978       115,179  
 
Add - fixed charges:
                                       
Interest on long-term debt
    16,358       15,179       13,918       18,044       26,071 (1)
Estimated interest cost within rental expense
    1,468       395       390       289       343  
Amortization of net debt premium, discount, and expenses
    708       611       473       705       1,065  
 
                             
Total fixed charges
    18,534       16,185       14,781       19,038       27,479  
 
                             
 
Earnings available for fixed charges
    51,242       54,019       58,931       76,016       142,658  
 
                             
 
Ratio of earnings to fixed charges
    2.76       3.33       3.98       3.99       5.19  
 
                             
 
Earnings required for combined fixed charges and preferred stock dividends:
                                       
Preferred stock dividends
    2,127       2,062       1,998       1,933       1,869  
Adjustment to pretax basis
    1,217       346       1,293       410       977  
 
                             
 
    3,344       2,408       3,291       2,343       2,846  
 
                             
Combined fixed charges and preferred stock dividend requirements
  $ 21,878     $ 18,593     $ 18,072     $ 21,381     $ 30,325  
 
                             
 
Ratio of earnings to combined fixed charges and preferred stock dividend requirements
    2.34       2.90       3.26       3.55       4.70  
 
                             
 
(1)   Includes FIN 48 interest expense