EX-12.4 14 dex124.htm COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES Computation of Ratio of Earnings to Fixed Charges

Exhibit 12.4

Ameren Energy Generating Company

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 (loss) from continuing operations attributable to Ameren Energy Generating Company

   $ 150,354      $ 230,238      $ 286,467      $ 159,869      $ (38,573

Less- Net income attributable to noncontrolling interest

     (27,143     (27,272     (28,424     (2,007     (3,366

Add- Taxes based on income

     108,642        154,910        182,116        101,148        19,422   
                                        

Net income (loss) before income taxes and noncontrolling interest

     286,139        412,420        497,007        263,024        (15,785

Add- fixed charges:

          

Interest on short-term and long-term debt

     59,861        55,930 (b)      54,320 (b)      60,045 (b)      76,321 (b) 

Estimated interest cost within rental expense

     110        169        232        307        295   

Amortization of net debt premium, discount, and expenses

     586        586        760        866        1,026   
                                        

Total fixed charges

     60,557        56,685        55,312        61,218        77,642   
                                        

Earnings available for fixed charges

   $ 346,696      $ 469,105      $ 552,319      $ 324,242      $ 61,857   
                                        

Ratio of earnings to fixed charges

     5.72        8.27        9.98        5.29        - (c) 
                                        

 

(a)

Effective January 1, 2010, Ameren Energy Generating Company (Genco) acquired an 80% ownership interest in Electric Energy Inc. (EEI) from an Ameren subsidiary as a result of an internal re-organization. In accordance with authoritative guidance, periods presented reflect the combined Genco and EEI results.

(b)

Includes interest expense related to uncertain tax positions

(c)

Earnings are inadequate to cover fixed charges by $15.8 million for the twelve months ended December 31, 2010. In the third quarter of 2010, Ameren Energy Generating Company recorded a goodwill and other impairment charge of $170 million. See Note 17- Goodwill and Other Asset Impairments of this Form 10-K for additional information