EX-12.2 10 dex122.htm COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES - UE Computation of Ratios of Earnings to Fixed Charges - UE

Exhibit 12.2

Union Electric Company

Computation of Ratio of Earnings to Fixed Charges and Combined

Fixed Charges and Preferred Stock Dividend Requirements

(Thousands of Dollars, Except Ratios)

 

     Six Months Ended
June 30,
2009		    Year Ended
December 31,
2008

Net income from continuing operations

    $ 106,136    $ 250,998

Less- Income from equity investee

      -      10,948

Add- Taxes based on income

      55,792      133,514
             

Net income before income taxes and income from equity investee

      161,928      373,564

Add- fixed charges:

      

Interest on long term debt (1)

      115,830      205,314

Estimated interest cost within rental expense

      1,678      3,533

Amortization of net debt premium, discount, and expenses

      3,323      6,226
             

Total fixed charges

      120,831      215,073
             

Earnings available for fixed charges

      282,759      588,637
             

Ratio of earnings to fixed charges

      2.34      2.73
             

Earnings required for combined fixed charges and preferred stock dividends:

      

Preferred stock dividends

      2,971      5,941

Adjustment to pretax basis

      1,562      3,160
             
     4,533      9,101
             

Combined fixed charges and preferred stock dividend requirements

    $ 125,364    $ 224,174
             

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

      2.25      2.62
             

 

(1)

Includes FIN 48 interest expense