EX-12.2 4 exhibit12_2.htm UE COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES UE Computation of Ratios of Earnings to Fixed Charges
Exhibit 12.2

Union Electric Company
Computation of Ratios of Earnings to Fixed Charges and Combined
Fixed Charges and Preferred Stock Dividend Requirements
(Thousands of Dollars, Except Ratios)
         
 
Six Months
  
Year
  
 
Ended
  
Ended
  
 
June 30,
  
December 31,
  
   
2006
    
2005
  
Net income from continuing operations
$
139,729
  
$
351,770
  
Less- Income from equity investee
  
24,180
   
6,463
 
Add- Taxes based on income
  
69,024
   
193,156
 
Net income before income taxes and income from equity
investee
  
184,573
   
538,463
 
             
Add- fixed charges:
           
Interest on long term debt
  
73,664
   
120,899
 
Estimated interest cost within rental expense
  
1,252
   
2,528
 
Amortization of net debt premium, discount,
and expenses
  
2,732
   
5,278
 
Total fixed charges
  
77,648
   
128,705
 
             
Earnings available for fixed charges
  
262,221
   
667,168
 
             
Ratio of earnings to fixed charges
  
3.37
   
5.18
 
             
Earnings required for combined fixed
charges and preferred stock dividends:
           
Preferred stock dividends
  
2,971
   
5,941
 
Adjustment to pre-tax basis
  
1,437
   
2,896
 
   
4,408
   
8,837
 
             
Combined fixed charges and preferred stock
dividend requirements
$
82,056
  
$
137,542
  
             
Ratio of earnings to combined fixed charges
and preferred stock dividend requirements
  
3.19
   
4.85