EX-12.3 9 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)

 
 
 
 
 
 
 
 
 
 
 
2012
 
2013
 
2014
 
2015
 
2016
Earnings available for fixed charges, as defined:
 
 
 
 
 
 
 
 
 
Net income from continuing operations
$
143,626

 
$
163,011

 
$
203,752

 
$
216,917

 
$
255,181

Tax expense based on income
94,166

 
110,115

 
142,701

 
127,403

 
158,322

Fixed charges (a)
134,191

 
135,424

 
128,315

 
140,047

 
147,884

Earnings available for fixed charges, as defined
$
371,983

 
$
408,550

 
$
474,768

 
$
484,367

 
$
561,387

Fixed charges, as defined:
 
 
 
 
 
 
 
 
 
Interest expense on short-term and long-term debt  (a)
$
119,248

 
$
117,327

 
$
111,205

 
$
121,591

 
$
128,885

Estimated interest cost within rental expense
3,577

 
3,731

 
4,237

 
4,224

 
4,833

Amortization of net debt premium, discount, and expenses
11,366

 
14,366

 
12,873

 
14,232

 
14,166

Total fixed charges, as defined
$
134,191

 
$
135,424

 
$
128,315

 
$
140,047

 
$
147,884

Ratio of earnings to fixed charges
2.77

 
3.02

 
3.70

 
3.46

 
3.80

Earnings required for combined fixed charges and preferred stock dividends:
 
 
 
 
 
 
 
 
 
Preferred stock dividends
$
3,023

 
$
3,023

 
$
3,023

 
$
3,023

 
$
3,023

Adjustment to pretax basis
1,982

 
2,042

 
2,117

 
1,776

 
1,876

 
$
5,005

 
$
5,065

 
$
5,140

 
$
4,799

 
$
4,899

 
 
 
 
 
 
 
 
 
 
Combined fixed charges and preferred stock dividend requirements
$
139,196

 
$
140,489

 
$
133,455

 
$
144,846

 
$
152,783

Ratio of earnings to combined fixed charges and preferred stock dividend requirements
2.67

 
2.91

 
3.56

 
3.34

 
3.67



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