EX-12.2 4 a2197952zex-12_2.htm EXHIBIT 12.2

EXHIBIT 12.2

 

 

Combined Ameren Illinois Company

Pro Forma Ratio of Earnings to Combined Fixed Charges and Preferred Dividends

For the Three Months Ended March 31, 2010 and For the Year Ended December 31, 2009
(Thousands of Dollars, Except Ratios)

 

 

 

Pro Forma

 

 

 

Three Months Ended
March 31, 2010

 

Year Ended
December 31, 2009

 

 

 

Combined
Ameren
Illinois
Company(1)

 

Combined
Ameren
Illinois
Company,
Net(2)

 

Combined
Ameren
Illinois
Company(1)

 

Combined
Ameren
Illinois
Company,
Net(2)

 

Net income from continuing operations

 

$

48,305

 

$

36,427

 

$

243,101

 

$

134,799

 

Add- Taxes based on income

 

30,651

 

24,334

 

141,137

 

80,577

 

 

 

 

 

 

 

 

 

 

 

Net income before income taxes

 

78,956

 

60,761

 

384,238

 

215,376

 

Add- fixed charges:

 

 

 

 

 

 

 

 

 

Interest on short-term and long-term debt(3)

 

41,064

 

35,932

 

160,787

 

144,621

 

Estimated interest cost within rental expense

 

937

 

892

 

3,797

 

3,671

 

Amortization of net debt premium, discount, and expenses

 

1,307

 

1,307

 

6,317

 

5,958

 

 

 

 

 

 

 

 

 

 

 

Total fixed charges

 

43,308

 

38,131

 

170,901

 

154,250

 

 

 

 

 

 

 

 

 

 

 

Earnings available for fixed charges

 

122,264

 

98,892

 

555,139

 

369,626

 

Ratio of earnings to fixed charges

 

2.82

 

2.59

 

3.24

 

2.39

 

Earnings required for combined fixed charges and preferred stock dividends:

 

 

 

 

 

 

 

 

 

Preferred stock dividends

 

766

 

766

 

3,061

 

3,061

 

Adjustment to pretax basis

 

600

 

600

 

1,832

 

1,832

 

 

 

1,366

 

1,366

 

4,893

 

4,893

 

Combined fixed charges and preferred stock dividend requirements

 

$

44,674

 

$

39,497

 

$

175,794

 

$

159,143

 

 

 

 

 

 

 

 

 

 

 

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

 

2.73

 

2.50

 

3.15

 

2.32

 

 

(1)            This column is not intended to represent Ameren Illinois if the AERG distribution does not occur.

 

(2)            This column reflects the removal of AERG’s net assets as a result of the AERG distribution that will occur subsequent to the merger, subject to the receipt of a favorable ruling from the IRS. If we have not received the ruling prior to the consummation of the merger, the AERG distribution may still occur immediately following the merger or it may occur at a later time.

 

(3)            Includes interest expense related to uncertain tax positions.