EX-12.3 10 aee-exhibit123.htm RATIO OF EARNINGS TO FIXED CHARGES Exhibit


Exhibit 12.3
Ameren Illinois Company
Computation of Ratio of Earnings to Fixed Charges and Combined
Fixed Charges and Preferred Stock Dividend Requirements
(Thousands of Dollars, Except Ratios)

 
 
 
 
 
 
 
 
 
 
 
2011
 
2012
 
2013
 
2014
 
2015
Earnings available for fixed charges, as defined:
 
 
 
 
 
 
 
 
 
Net income from continuing operations
$
195,731

 
$
143,626

 
$
163,011

 
$
203,752

 
$
216,917

Tax expense based on income
126,821

 
94,166

 
110,115

 
142,701

 
127,403

Fixed charges (a)
141,308

 
134,191

 
135,424

 
128,315

 
140,047

Earnings available for fixed charges, as defined
$
463,860

 
$
371,983

 
$
408,550

 
$
474,768

 
$
484,367

Fixed charges, as defined:
 
 
 
 
 
 
 
 
 
Interest expense on short-term and long-term debt  (a)
$
129,300

 
$
119,248

 
$
117,327

 
$
111,205

 
$
121,591

Estimated interest cost within rental expense
3,581

 
3,577

 
3,731

 
4,237

 
4,224

Amortization of net debt premium, discount, and expenses
8,427

 
11,366

 
14,366

 
12,873

 
14,232

Total fixed charges, as defined
$
141,308

 
$
134,191

 
$
135,424

 
$
128,315

 
$
140,047

Ratio of earnings to fixed charges
3.28

 
2.77

 
3.02

 
3.70

 
3.46

Earnings required for combined fixed charges and preferred stock dividends:
 
 
 
 
 
 
 
 
 
Preferred stock dividends
$
3,045

 
$
3,023

 
$
3,023

 
$
3,023

 
$
3,023

Adjustment to pretax basis
1,973

 
1,982

 
2,042

 
2,117

 
1,776

 
$
5,018

 
$
5,005

 
$
5,065

 
$
5,140

 
$
4,799

 
 
 
 
 
 
 
 
 
 
Combined fixed charges and preferred stock dividend requirements
$
146,326

 
$
139,196

 
$
140,489

 
$
133,455

 
$
144,846

Ratio of earnings to combined fixed charges and preferred stock dividend requirements
3.17

 
2.67

 
2.91

 
3.56

 
3.34



(a)
Includes net interest related to uncertain tax positions.