EX-12.7 10 c23635exv12w7.htm EXHIBIT 12.7 exv12w7
 

Exhibit 12.7
Illinois Power 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(1)     2005     2006     2007  
Net income from continuing operations
   $ 117,113     $ 137,538     $ 97,039     $ 56,659     $ 25,780  
Less - Change in accounting principle
     (2,294 )     -       -       -       -  
Less - Income from equity investee
     -       -       -       -       -  
Add - Taxes based on income
     76,023       87,591       65,171       37,246       15,341  
 
                              
 
Net income before income taxes and change in accounting principle
     195,430       225,129       162,210       93,905       41,121  
 
Add - fixed charges:
                                        
Interest on long-term debt
     146,045       112,616       41,028       46,167       69,085 (2)
Estimated interest cost within rental expense
     1,895       1,696       1,290       205       234  
Amortization of net debt premium, discount, expenses and losses
     17,751       18,772       2,315       3,537       8,454  
 
                              
Total fixed charges
     165,691       133,084       44,633       49,909       77,773  
 
                              
 
Earnings available for fixed charges
     361,121       358,213       206,843       143,814       118,894  
 
                              
 
Ratio of earnings to fixed charges
     2.17       2.69       4.63       2.88       1.52  
 
                              
 
Earnings required for combined fixed charges and preferred stock dividends:
                                        
Preferred stock dividends
     2,294       2,294       2,294       2,294       2,294  
Adjustment to pretax basis
     1,434       1,461       1,542       1,508       1,365  
 
                              
 
     3,728       3,755       3,836       3,802       3,659  
 
                              
Combined fixed charges and preferred stock dividend requirements
   $ 169,419     $ 136,839     $ 48,469     $ 53,711     $ 81,432  
 
                              
Ratio of earnings to combined fixed charges and preferred stock dividend requirements
     2.13       2.61       4.26       2.67       1.46  
 
                              
 
(1)   Ameren Corporation purchased Illinois Power Company on September 30, 2004, amounts include combined predecessor and successor financial information.
 
(2)   Includes FIN 48 interest expense