EX-12.1 11 dex121.htm COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES Computation of Ratio of Earnings to Fixed Charges

Exhibit 12.1

Ameren Corporation

Computation of Ratio of Earnings to Fixed Charges

(Thousands of Dollars, Except Ratios)

 

     Year Ended December 31,  
     2006     2007     2008     2009     2010(a)  

Net income from continuing operations attributable to Ameren Corporation

   $ 546,738      $ 617,804      $ 605,189      $ 612,313      $ 138,678   

Less- Net income attributable to noncontrolling interest

     (27,135     (27,266     (28,422     (2,007     (3,366

Add- Taxes based on income

     283,825        330,141        326,736        332,128        325,320   
                                        

Net income before income taxes and noncontrolling interests

     857,698        975,211        960,347        946,448        467,364   

Add- fixed charges:

          

Interest on short-term and long-term debt

     345,410        421,406 (b)      440,507 (b)      518,149 (b)      511,468 (b) 

Estimated interest cost within rental expense

     4,081        5,020        6,510        8,341        8,593   

Amortization of net debt premium, discount, and expenses

     15,341        18,638        19,716        16,183        14,337   

Subsidiary preferred stock dividends

     10,936        10,871        10,357        9,874        8,278   

Adjust preferred stock dividends to pretax basis

     5,565        5,709        5,497        5,271        4,753   
                                        

Total fixed charges

     381,333        461,644        482,587        557,818        547,429   
                                        

Less: Adjustment of preferred stock dividends to pretax basis

     5,565        5,709        5,497        5,271        4,753   
                                        

Earnings available for fixed charges

   $ 1,233,466      $ 1,431,146      $ 1,437,437      $ 1,498,995      $ 1,010,040   
                                        

Ratio of earnings to fixed charges

     3.23        3.10        2.97        2.68        1.84   
                                        

 

(a)

In the third quarter of 2010, Ameren Corporation recorded a goodwill and other impairment charge of $589 million. See Note 17 - Goodwill and Other Asset Impairments of this Form 10-K for additional information.

(b)

Includes interest expense related to uncertain tax positions